17 Dec
- Not filing a return at all.
- Filing with the wrong status: Choose the correct filing status for your situation.
- Not claiming all of your income: Make sure to report all of your income, even if you don’t receive. This includes self-employment income, rental income, and any other income you received during the year.
- Claiming the wrong deductions or credits: If you are eligible for deductions or credits, make sure to claim them. However, be careful not to claim deductions or credits you are not entitled to, as this could result in a larger tax bill or even penalties.
- Not keeping good records: Good record-keeping is important when it comes to preparing your tax return. Keep copies of your tax returns, as well as receipts, records, and other documentation related to your income and deductions. This will make it easier to prepare your return and will also come in handy if you are audited.
- Filing electronically without double-checking: When you file your taxes electronically, it’s important to double-check your return for accuracy before submitting it. Make sure that all of the information is correct and that you have included all required documentation.
- Not requesting an extension if you need one: If you need more time to file your tax return, you can request an extension. Keep in mind that an extension of time to file is not an extension of time to pay, so you should still pay any tax due by the original deadline to avoid interest and penalties.
If you have any questions or concerns regarding your tax returns, please do not hesitate to contact us. We are here to help and are happy to provide answers to any questions you may have.