Let’s get ready to do taxes!
It’s tax season, and we know how difficult and overwhelming it can be. That´s why we have compiled a series of tips and advice that can help and facilitate this process.
First you should know that some expenses may be deductible from your taxes, for example:
- Health cares such as medical and dental expenses are deductible.
- Interest owed on a loan, such as a student loan or a home mortgage, is deductible on your tax return.
- Monetary Donations to charities can help claim a reduction in taxes.
- If food is not considered luxurious and extravagant, you can deduct 50% of the cost of meals.
Second, when you do your taxes these are some details that you should take into consideration:
- Make sure you have all the documents requested by the IRS, such as Forms W-2 and 1099.
- The easiest way to avoid errors in processing is by filing electronically, as it is the most accurate way.
- To avoid delays, the best time to check the status of your refund is at night and on weekends.
- Permanent residents with “Green Card” or US citizens living abroad the country can use the same forms (1040, 1040A or 1040EZ) as people living in the United States to file their taxes.
- The IRS offers a variety of payment options; Taxpayers can pay the lump sum or in installments.
- If you use an Individual Taxpayer Identification Number to declare income you must verify the expiration year of the ITIN, if necessary you must send a renewal application before filing your taxes.
- If your address changed, you need to notify the IRS to ensure you receive all correspondence or refund check.
- Review your tax return before signing, it is important to verify all the information recorded on the return forms.
- If you are not sure how to present your taxes, seek help, a certified preparer is your best option, at InterTax we are willing and prepared to advise you.
Finally, it is important that you know that Intertax offers the best service when preparing your taxes, we not only have specialized agents, but we can offer you an advance of up to $1,500 of your refund on the same day and at a very low cost.
Visit one of our agencies:
201 E Clinton Ave. Goshen, IN 46528
2336 S Main St. Elkhart, IN 46516