Holiday season is upon us before you know it Uncle Sam is ready to collect! Here are some tips and advantages to save big on your tax return.
Start Early:
Gather all your receipts and other important tax documents as soon as possible to give yourself and your tax preparer adequate time to work on your return.
Don’t Miss Out On Any Eligible Credits:
It’s always good to know what deductions you can take, but don’t forget to look into any tax credits you might be eligible to claim. Tax credits are more valuable than deductions since it directly reduces the amount of taxes owed.
An Extension To File Is Not An Extension To Pay:
If you won’t be able to file your taxes by the April deadline, you may be able to file an extension. But remember, that extension is not an extension to pay, you still need to pay your estimated tax bill to avoid penalties and interest.
We can help you prepare your taxes, call us at 51st Business Solutions to help you get ahead of the game!
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