Last Minute Tax Tips

I just finished doing my taxes! A great feeling, especially now that I am expecting to get a refund. Having completed my taxes, here are my top tips to make sure you get the most from your return:

  • Set aside 3-4 hours one afternoon to do your taxes online and sort through the associated paperwork. The tax software will guide you through the steps, but there are a lot of “learn more” parts thanks to new tax legislation over the last few years.
  • Know your what deductions and credits you are entitled to under the new tax reforms. You’ll need if for the return.
  • If you find you are owe taxes, consider increasing your 401K/IRA contribution (see limits). You have till the tax filing deadline in mid-April to make contributions that apply to last year
  • If you earn any foreign income, declare it. The IRS is checking for this now and there are heavy fines in place for not reporting foreign income or accounts

Subscribe For The Latest Updates

Invalid email address
We promise not to spam you. You can unsubscribe at any time.

Last Updated on

Leave a Reply

1 Comment threads
0 Thread replies
Most reacted comment
Hottest comment thread
1 Comment authors
Christoff van Niekerk

I was wondering how big a difference there is between Turbotax Premium and Deluxe. I did investing, does deluxe not allow me to enter info there?

Nice article though, I’m kind of excited to start my taxes.