Tips for Filing your Taxes at the Last Minute

The deadline for filing taxes is quickly approaching (April 17). If you are like many others, you may be waiting till the last minute to file your taxes to avoid the hassle of getting the paperwork together or of having to pay. Unfortunately, taxes can’t be avoided. Here are some tips to make filing a bit easier.

Have all your Documents

You have been receiving documents in the mail since the beginning of the year in regards to your tax return. You will want to gather these and put them all together if you haven’t already. Forms such as your W2, 1099 forms, 1098 form (showing mortgage interest), and receipts from charitable organizations are just a few. If you are paying interest on any type of loan you should have a document showing that also.

File Electronically

For many people, filing taxes is not a complicated process. Filing your taxes electronically is the easiest, fastest and most reliable method available to you. There are many online programs that will let you file your taxes, and take their fee out of your refund. You can also have your funds deposited directly into your bank account. If you aren’t comfortable using an online service, many tax accountants can file online for you, but if you’ve waited too long it may be hard to find someone who can schedule you.

Beware of Careless Errors

Being in a hurry to file your taxes could cause you to make unforeseen errors. Double check your return and have another person check them over too. You want to be sure that all the information you entered is correct. Be especially cognizant of entering numbers like your social security number. Most online tax preparers will find mathematical errors, but won’t detect mistakes like these.

After preparing your taxes in a rushed way this year, hopefully you will be more inclined to take a more proactive stance towards filing taxes next year. Contact Carolina Money Minders for more help with your taxes!