Common Tax Mistakes
It won’t be long before the holiday season–which we are certainly enjoying at Avondale Nissan–draws to a close. Then, before the New Year’s confetti has even been swept up properly, we begin another season altogether, and one that isn’t nearly as highly anticipated: tax season. Many of us look on this season with a sense of dread and foreboding, but it doesn’t have to be this way. We at Avondale Nissan have found four common tax mistakes that many of us make; be certain to avoid them this year!
Typographical Errors
Without thinking, can you recall the Social Security number of your spouse? How about those of your children? In all likelihood you cannot, and this is why so many of us make typographical errors on our tax documents. So, before you file your taxes–or hit “send,” in most cases–double check to make sure that your values are all correct, and that names and birthdates are 100% accurate.
Did You Sign Everything?
Even as we make a large shift toward becoming an electronic society, our signature still carries a lot of weight. It’s still pretty much impossible to even cash a check without a signature. And, no surprise here, taxes function the same way. So make sure that everything is signed that needs to be, and that, if you’re filing jointly, that you have the signature of your spouse as well.
How’s Your Math?
If you swear by using a paper and pen after all these years, know this: the IRS estimates that you are twenty times more likely to mess up the numbers if you do. So, be sure to go over all the numbers twice or even three times–you’d hate to get your taxes back for clarification simply because you forgot to carry the one.
Are You Selecting the Correct Filing Status and Deductions?
Because some of the tax literature is tricky to understand, it’s pretty common to make a mistake in your filing status, in the deductions you’re eligible for, or in the deductions that you aren’t eligible for. Another issue comes up on the heels of divorce, where parents aren’t certain who has legal authority to claim dependents. In regard to any of these questions, it’s best to consult a tax professional, as they may have the best advice for you.
So there you go, Phoenix! We hope that these tips help you, and that you’ll pay us a visit at Avondale Nissan when you’re ready to turn that hefty return into a new vehicle!
