Watching for Common Tax Errors

Do you have taxes on your mind? Problem is, when we file our own taxes instead of getting tax preparation services hackettstown nj, we can make some pretty big mistakes. Here’s a list of common tax errors that you should be keeping an eye out for when you do your taxes this filing season.

·    Filing the wrong status (dependent or independent, 0 instead of 1, etc)

·    Missing forms

·    Forgetting to sign it

·    Not checking out new laws

·    Math errors or mixing up numbers

·    Forgetting to put earned interest on your taxes

·    Not claiming your charitable donations

·    Forgetting to write in your social security number or mixing up numbers in it.

·    Not using the labels that the IRS provides

·    Missing the deadlines

·    Not checking last year’s taxes to see if anything carries over

·    Not taking deductions where they’re due (IRA’s, too much Social Security being taken out)

·    Not including dependents who don’t live with you

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·    Claiming someone as a dependent who claimed themselves as independent

·    Not filing domestic or self-employment taxes.

·    Not claiming credits where they’re due (Child Tax Credit, Earned Income Credit)

·    Sending stuff to the wrong place (this is prevented when you use the aforementioned labels)

If you want to be sure that you don’t miss out on any mistakes, check and double check everything and have others take a look at your taxes as well. Sometimes, multiple people can find errors more easily than if you just do it yourself.

If you can afford it and are willing to put money down in order to get the maximum refund, go to a pro that really knows the system well. They get paid to know what they do, and they can catch stuff that you would have totally overlooked for one reason or another.