“Relieved that you won’t have to think about taxes for another year now that you’ve finally submitted your 2017 return or will soon? It’s best not to put taxes on the back burner yet. Instead, take advantage of being in tax mode to make a few moves that can help with next year’s return and improve your finances overall.”
If your return is fairly simple and you’re up for the challenge, preparing your taxes solo could save you a bit of money. In fact, an estimated 33% of Americans file their own taxes each year, so if you’re ready to join their ranks, here are a few tips for getting through the process.
1. Prepare your return early
2. Figure out whether you’ll be itemizing this year
Missed tax deduction? Overlooked tax credit? Get what’s coming to you by amending your return.
Your home is a great source of tax savings if you know what qualifies and don’t forget to claim deductions and credits. If you missed any of these five, you can go back in time — roughly two to three years — by amending your tax return. Continue reading →
Don’t rouse the IRS or pay more taxes than necessary — know the score on each home tax deduction and credit.
As you calculate your tax returns, be careful not to commit any of these nine home-related tax mistakes, which tax pros say are especially common and can cost you money or draw the IRS to your doorstep. Continue reading →