Income Tax Tips

Here are a few tips when you complete and submit your income taxes.
1. If you aren't going to be finished in time, file for an extension. You will owe interest, then, on any unpaid liability, but you won't owe penalties, as well.
2. Use a CPA or tax preparation software to help you avoid tax errors. If your return is complicated, the CPA may well save you more money than his or her fee, giving you a net profit.
3. If you choose to go it alone, get everything organized well in advance to help you when you actually begin completing the return.
4. If you calculate your own taxes or use software, proofread everything once you have entered it, just to avoid typos. The IRS knows what was reported, and they will check to make sure the numbers match.
5. Use the Internal Revenue Service website www.irs.gov to help you check regulations.
6. SIGN YOUR RETURN! It's a leading cause of audits!!!

Be prosperous!
Peggy