Tax Time is coming...

By
Real Estate Agent with Prudential Real Estate Professionals

It's another year gone by and time to get your taxes together. If you're a business owner you understand the value in a simple receipt and how important itemizing is. But to the average person tax time means two simple things; #1 get your W-2 stub from your boss #2 go get your refund from any ole tax service place or maybe have your mom do them for you. Here's a couple of hints for a larger return. #1 Don't let mom do them even though she's free and pick a reputable accountant. #2 Save all receipts, write down your mileage and itemize, itemize, itemize. You might not think you have enough deductions to do so but let me share with you.

Did you go to the dentist, Doctor last year? Do you commute to work?  How many times did you change your oil or have anything else done to your vehicle? Do you have to buy special clothing for your job, suits, boots, etc.? Do you pay insurance? Health, auto, aflac, etc. Do you have a retirement plan or stock investments? Do you own a home? The interest is a tax deduction.

So...Even if you didn't save your receipts in 07' you still have plenty of time to go see a professional accountant and ask them to help you, it's free until you actually use them and then there's a fee. They will tell you what they need to have you do in 08' to benefit from itemizing and you will get a much larger refund.

 

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