Accounting Services

Tax Filing Mistakes that can Cost You Money and Time

When tax time rolls around, many people wait to the last minute to handle their tax filing in Edison. This can result in a frantic effort to handle everything, which means that mistakes are common. If you want to make sure that you don’t make mistakes that cost you both time and money, then you need to know what the most common ones are, which can be found here.

Missed Exemptions and Deductions

The exemptions and deductions on your tax return will reduce the amount of taxed income that you have. In some cases, these are what determine if you get a refund or if you owe the IRS. This is why it is so important to make sure that you know what applicable exemptions and deductions apply to your situation. If you are unsure, then it may be a good idea to work with a professional to help with your tax filing in Edison.

Not Signing all the Documents

Make sure that you sign all the necessary documents to make sure that you sign them and if you are filing jointly with your spouse that they sign them too. If you are filing your return electronically, you will get a PIN to sign with. If you don’t have this PIN, then you can enter your adjusted gross income from the prior year. Keep in mind, if you forget to sign any of the documents, your taxes cannot be processed.

When you know what the most common mistakes are when filing your taxes, you will be able to avoid them. It may also be a good idea to hire the professionals for help with tax filing in Edison.

More information about filing your taxes can be found by visiting the WorkMyTaxes website.

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