Taxes Not Done Yet? Here’s A Checklist and 3 Mistakes to Avoid!

5 Apr

It’s getting down to the wire to file your taxes by the April 15th deadline!   Don’t Panic!  Just get organized!  Here’s a tax checklist from Turbo Tax to get you started:

TurboTax_TaxPrepChecklist

Then, it’s time to get current!    With changes in law and policy, your deductions can also change.  CNBC has a great article on 8 Last Minute Strategies that you might be able to implement:

1. Moving-expense deduction. 

2. Capital loss deduction. 

3. Medical, dental expense deductions. 

4. Health savings account. 

5. SEP IRA. 

6. Home-office deduction. 

7. Health insurance premium deductions for self-employed. 

8. Business-expense tax deductions. 

To read the full article, click here.

With all your paperwork in order, you either have to see the tax man (or woman) pronto, or file online.    If you’re feeling technological, The Kiplinger Report has a great article that will help you determine what software is best for you.  Click here!

But sometimes when you make a mad dash, you can mistakes.   The most common errors are 1. math errors  2. Incorrect social security numbers and 3. forgetting to sign and date the form.   Even if you sign, but don’t date, it will get sent back!

Many wait until the last minute, because they know they owe, but waiting too long with cost you even more!

If you made a move this year and have any questions on how that will affect your taxes, contact me ASAP (remember the deadline is around the corner!)  If you would like to make a move, I am happy to help with that too, after your taxes are done!