How To Get The Most Out Of Your Tax Return
When you are getting your finances in order every little bit of extra cash helps. This tax season make sure you are getting the most out of your return!
Filing your taxes can be a complicated process but if you do it right you could see your return get bigger! Here are a few tips to maximize your return and reduce the risk of an audit.
Get Professional Help
If you don’t understand how to do your taxes then getting professional help is the wise thing to do. Filing for free online seems like the easiest and cheapest choice but that isn’t always the case. Many people try to file themselves and leave hundreds, maybe even thousands on the table.
You should especially seek professional help if your tax return isn’t straightforward, you have more than one job or your return is significantly itemized. Learning the ins and outs of tax law yourself will take a ton of time when finding someone who does it for a living will be simple and stress-free.
Avoid Filing Online
Filing online is easy and convenient but it isn’t always the best choice. If you do it yourself online you risk making mistakes and triggering an audit. If you have been e-filing for years you could be making small mistakes that could come back to haunt to you. No one wants a surprise audit that may force you to pay some of your returns back. Also if you are audited you may have to defend yourself and your returns.
Online filing also eliminates a paper trail, which is important if the IRS has any questions or concerns about your returns. Filing online isn’t a horrible choice, but it’s definitely the easiest way to make mistakes.
Start Your Return Early!
Don’t wait until the last minute! Filing early is always a wise choice. When you give yourself time you have time to react to clerical errors in your documents, errors in filing and everything else life can throw at you. Get your return done by the end of February so if you end up owing you have a little time to save before submitting. Add an alert to your phone or calendar to remind yourself to get an early start this year.
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