This article was originally published on ETFTrends.com.
By Mike Eklund & Chad Smith via Iris.xyz
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We’ve been helping clients review their taxes for many years and have devised patterns of the most missed items to save money on your return. We’ve compiled these ideas in this show as we cover the top ten tax return filing mistakes. Remember, the IRS will never send you money that you missed on your tax return. Make sure you listen to this episode to avoid these common tax return mistakes.
What can you do to become more organized with your tax returns?
Many times people make tax return mistakes simply because they are disorganized. They misplace paperwork and often do not have all the data at hand to complete their 1040 correctly. A good annual practice to avoid making costly mistakes on your tax return is to keep a file handy where you can put all of your tax documents for the coming year. That way as you receive documents throughout the year you can just place them into the file and have them ready when it is time to prepare your taxes.
Do you have a checklist to keep track of new tax rules and help to avoid tax return mistakes?
Having a checklist can help you in your quest to become more organized and avoid costly tax return mistakes. Without a checklist, you may forget to enter correct data or double check new tax rule opportunities.
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