If you're self-employed, remember to take your deductions. You may have business expenses or a home office, especially in this work-from-home environment. If you have children, you may also be able to receive a child or child-care tax credit. So make sure you keep this in mind when filing.
Most people still don't realize that your biggest expense is not the cable bill, not the phone bill and not the internet bill. But ultimately, it's your tax bill.
So I want to make sure we emphasize this year, not only our tax filing, also our tax planning and strategy for the future.
File Even If You Don't Have To
Another thing I want you to consider is filing even if you don't have to. Even if your income is below the filing threshold, you may still be eligible for a refund of withheld taxes or estimated payments.
And if your adjusted gross income is $73,000 or less, you don't have to pay a service or preparer to file your taxes for you. You can actually go to the IRS's website and file your return for free.
Skip advertIf any of these tips sound like they could apply to you, make sure you go to Kiplinger.com so that you can learn more.
Make Sure You File on Time
Let's make sure that we are filing on time.
Since April 15 falls on Good Friday and Passover, the usual tax filing date has been pushed back to April 18. However, let's make sure we're staying on top of our filing deadlines.
Double-checking your work and avoiding common errors will help you avoid delays. Things like providing an incorrect Social Security number or the wrong bank account or not having the signatures in the right place can ultimately result in delays.
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