No one is looking forward to the loathed tax day. However, it’s that time of year again and we cannot avoid it even if we try (who wants to pay those penalties?). If you, like so many others, have procrastinated long enough and it’s time to file, you might be rushing. Since rushing doesn’t do anything good for anyone. Mistakes are more likely made when you are rushed. Things are done incorrectly, forms are forgotten and we end up kicking ourselves for waiting so long. I mean, we did know this day was coming for at least a year – but much longer since it happens every single year. If you are a procrastinator of epic levels at tax time, here is a last-minute checklist designed to help you stay on track.
- Get a copy of last year’s return to check it off and compare it as you file
- Get all your forms in order and double check that they are all there
- Triple check you have all your forms and so does your spouse
- Don’t forget any windfalls you came into (gambling, inheritance, etc.)
- Make a list of your income, your expenses and your deductions to check off as you go
- Check those SSNs on your return to be sure they are correct
- Save your work as you go if you are filing online
- Make sure your bank account information is accurate if you opt for a direct deposit
- Save money by contributing to an IRA
These tips are designed to help you remember the most important things at tax time. We know there are more for some, less for others and always something else. However, these are some of the most common mistakes taxpayers make when they wait until the last minute. Let us help you save some money by doing your taxes correctly the first time around.
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