Don’t Just Sit There! Start Getting More Tax Refund Now!
You are home for an undetermined amount of time. Use it to gather your tax receipts and deductibles for more return on your tax refund. On average, Americans will spend 7 hours a year assembling, organizing, and planning for their tax return. Many Americans crunch that 7 hours into the day of the federal tax deadline, in addition to the hours it may take to complete the actual tax return. Not planning for your tax prep will cost you money. However, you are now spending more time at home, which may mean you’ll get back more of your hard-earned cash if you don’t wait until the last minute.
While spending less time away from home, we also recommend pulling out the last three years in tax returns. Look through and see if there are any discrepancies in credits or deductibles over the years. If you missed claiming a credit or deductible, and the IRS owes you money, the average tax-payer has three years from the original filing date to amend a tax return and claim the money.
Don’t wait until July to begin thinking about your tax return, plan now while you have the time to ensure you are getting the maximum tax return. And, to make sure you don’t miss some of the most forgotten tax write-offs, here’s a quick list:
- Tax breaks for child care and summer camp.
- Extra credit for saving.
- Tax breaks for college costs.
- Tax credit for continuing education.
- Tax-deductible contributions to a health savings account.
- A break for teachers.
- Tax breaks for freelancers.
For a limited time, Profit Wise Accounting is offering payment plans and delayed payment options. Schedule your free virtual consultation today!
Also, ask us about our past tax return review service – we will look over your return and file a tax return amendment if you missed a tax credit or tax deduction. Call (256) 489-1478.
Make sure to check out our FREE Tax Prep Resources!