January doesn’t just represent the start of the year. It is also a time when mailboxes across South Florida start getting flooded with important tax documents. Whether it is W-2s , 1099s, bank statements or pension statements, it is important to organize all of these documents to ensure your tax return is completed quickly and accurately. The April 18 tax deadline may seem a long way to go. However, far too many people wait until the last minute to gather their documentation. In many cases, it can result in tax audits or a lower refund than you deserve.
If you are like most people, filing taxes is one of the least enjoyable things to do. But it is a necessary evil. Roads, schools and infrastructure don’t get built by themselves. However, far too many people in Fort Lauderdale make the process much more difficult due to a lack of organizational skills. Here are some steps you can take to make the process easier and to get the most out of filing your taxes.
Keep Everything Together
Not everybody is organized. Some of us can get a little sloppy when it comes to paperwork. But sloppiness can end up being very costly come tax time. From the moment you start receiving your tax documents, keep them in a binder, folder, a large manilla envelope or a separate tray. Too many people keep their documents scattered with their regular mail and bills. This can lead to confusion and sometimes lost and misplaced documents. Just one missing document can cause significant problems with your tax return.
Hire An Accountant
Once you have all of your documentation in one centralized location, bring them to a certified tax professional. Whether it is a CPA or a representative from H&R Block, each is highly trained to examine your documents and properly tabulate and report them to the Internal Revenue Service. Many accountants and tax services also provide protection should your tax return come under scrutiny from the IRS for a tax audit. If you own a business, make sure your personal tax information is separated from your professional.
Organize Tax Documents Year Round
Proper filing of taxes involves more than just collecting all your income statements. Many people who work as independent contractors may need to tabulate other expenses and deductions for their return. If your job involves travel, you may need to disclose how many miles you traveled and all your expenses, including gas, food and lodging. Many taxpayers in Fort Lauderdale fail to take advantage of these deductions and end up paying Uncle Sam more than they should. By keeping track of these important numbers throughout the year, it will save you a lot of time and potential headaches that doing it at the least minute.
A Fort Lauderdale Tax Attorney Can Help
An inaccurate tax return can bring severe consequences. If you are involved in a dispute with IRS over a past tax return, it is important to seek representation from an experienced Fort Lauderdale tax lawyer. Attorneys Ira L. Zuckerman and Lauren J. Mata bring more than 30 years of combined experience helping people throughout South Florida resolve their tax problems with the IRS. They utilize an aggressive and comprehensive approach to ensure each client is place in the best position to succeed. To learn more, contact the law offices of Zuckerman & Mata, LLC today and schedule a consultation.