With tax season now upon us, many people find themselves stressed and worried about what their tax outcome will be. Taxes, whether personal or business, have to be filed regardless of whether you are getting a refund or having to pay. But more importantly, they need to be filed properly. Some individuals file the simplest of forms, while others are faced with complicated tax filings that involve ownership of businesses, itemized deductions or having performed work in multiple states. Whatever your situation may be the team here at Tax Alternatives wants to ensure that you don’t make the same common tax mistakes that so many people make.
There are a number of common errors that tax filers make and we want to help our valued clients to avoid them.
COMMON MISTAKES TO AVOID
- Missing the filing deadline – One of the biggest and most common tax mistakes that many people make is not filing their taxes on time. Many people tend to procrastinate when it comes time to file their taxes and then find themselves faced with a missed deadline. Certainly, tax filing is not a favored task for most people, but we highly suggest you schedule a calendar reminder in advance to ensure your taxes are filed on time. If you are not comfortable filing your own taxes, then look to the team of specialists here at Tax Alternatives.
- Filing with the wrong filing status – Your filing status determines your deductible. An individual who files as single will have a different deductible than those filing as married, with married filers having to designate whether they are filing separately or jointly. It is very important that you file with the proper filing status in order to be able to take the proper deductible amount. If you are unsure what your filing status is, you can always reach out to the professionals here at Tax Alternatives and schedule a time to have one of our specialists handle your tax filings.
- Filing incomplete or incorrect personal data – Most people file online nowadays, but there are some who still rely on paper tax returns. Whatever your filing preference is, be sure to proofread all your answers before submitting and ensure that all your personal data is correct. Filling in incorrect personal information is a very common tax mistake and one that can be quite costly. So, before you click the file button, or seal that envelope be sure that all your personal information is accurate, spellings are correct and all answers and boxes are filled in.
- Overlooking a credit or tax break – If you choose to file your taxes yourself, there is a high risk that you will overlook a credit or tax break due you. It is difficult for the average person to be aware of all the credits and tax breaks that they quality for. With that said, the best all round solution to ensure that no tax breaks or credits are missed is to have your taxes filed by our professionals. There are online software packages available for you, but surely there is greater confidence to be had in the knowledge and expertise of our experienced and certified tax specialists.
PUT YOUR TRUST IN OUR DEDICATED TEAM OF TAX SPECIALISTS
If you want to avoid making these common tax mistakes and ensure that you get the biggest possible refund then be sure to reach out to the dedicated professionals here at Tax Alternatives. Our team of specialists can take care of your local, state and federal tax filings and are equipped to handle all types of tax scenarios and IRS issues. To get your taxes filed quickly and efficiently and have your refund on the way, contact one of our tax specialists today!