At Gifted Hands Financial, we specialized in the best tax preparation in all 50 States. Schedule your appointment today and let us deal with the stress of filing!!
Claiming Dependents
Don't claim dependents that are not valid. If you can't show proof that the dependent lived with you and/or that you took care of the dependent, then don't claim him/her as a dependent on your tax return.
Get Organized
Don't wait until the April 15 rush to gather receipts and other paperwork. Throughout the year gather, save and file any paperwork you might need. Examples include deductible expenses, childcare expenses and retirement account withdrawals.
Maximize Deductions
An example includes medical expenses which must be over 7.5% of your income to qualify for a deduction.
Save Receipts
Save receipts from non-cash charitable donations to charities such as Goodwill. Your donations to your church can also qualify as a deduction. Ask your church for your tithe and offerings year-end report.
State Income Tax
State income tax refunds are taxable and must be reported as income in the following tax year. Gambling winnings are also taxable income and must be reported to the IRS as well.
Retirement Funds
Contribute the maximum amount to your retirement account to reduce your tax bill.
Hire a Professional
Your tax preparer should be a Registered Tax Return Preparer with year-round availability.
Prepare for your Appt.
Make your preparer's job easier and speed up your refund when you take all the necessary paperwork to your initial appointment. You will need your organized and tallied receipts, proof of income and social security numbers for any dependents.
Ask for an Extension
If you can't complete and file your return on time, an extension prevents penalties and interest.
