Four Mistakes To Avoid When Filing Taxes
Filing your taxes correctly is one of the most important financial tasks. The IRS isn't the most forgiving when it comes to mistakes on your taxes, so you want to make sure you are avoiding any errors when filing. We have come up with four tips to help you avoid mistakes when you are filing your taxes. They may even help you break even or save money on your taxes!
Avoid Leaving Blanks. If you are unsure what to put on your form, take the time to figure out what correctly belongs in the blank. Having a blank area can be costly and time-consuming so avoid leaving blank fields.
Avoid Filling in New Information. The information you fill in must be the same as what the IRS has on file so avoid making any updates that you have not shared with the IRS For example, if you just moved and got a new address but have not informed the IRS, avoid using the new address.
Avoid Using Minus Signs for Negatives. The machines that process your tax forms will not recognize that a number is negative unless it is in brackets. Avoid using the minus sign to make a number negative and use brackets instead.
Avoid Filing Late. This seems like a no-brainer, but filing late can cost you a lot of money when you get hit with the late fee. Make sure you have all tax-related forms done by the correct date.
Filing your taxes can be tricky, but we are here to help! Contact AMJ Bookkeeping at (919) 368-1877 for a free tax review and for help managing your bookkeeping needs.
