Great Tips to Help You File Your Taxes (And Get a Refund)

#CreditChatWednesdays | 3 p.m. ET

Great Tips to Help You File Your Taxes (And Get a Refund) Featuring @Taxtweet

Wednesdays | 3 p.m. ET#CreditChat

Join our #CreditChat every Wednesday at 3 p.m. ET. This week, we talked about filing taxes and getting a refund.“

Check Out All the Tweets and Resources:

ex.pn/taxes

Wednesdays | 3 p.m. ET#CreditChatWednesdays | 3 p.m. ET

What are some tax mistakes that are easy to make?

The simplest mistakes are those human ones - data entry and calculations can get tricky.

Tweet by @AmericaSaves

#CreditChat

Putting it off for too long. Having to get your taxes done under a tighter deadline increases chances of mistakes.

Tweet by @LeslieHTayneEsq

#CreditChat

Wednesdays | 3 p.m. ET

10 Common Tax-filing Mistakes to Avoid- Math miscalculations - Filing status errors

- Computation errors - Social Security number oversights

- Misspelled or different names - Complete charitable contributions

- Direct deposit dangers - Signature required

- Additional income, additional filing work - Missing the deadline

Source: @TaxTweet

Wednesdays | 3 p.m. ET#CreditChatWednesdays | 3 p.m. ET

What are some overlooked tax deductions?

Missing out on homeowner tax deductions (easy to do if it’s your first year after renting).

Tweet by @RAHomes

#CreditChat

If you are a student who claimed yourself, you can write off your costs on books if you still have your receipts.

Tweet by @Finovera

#CreditChat

Business expenses that might not seem like business expenses - computer repair, phone, etc.

Tweet by @_MoneySavingPro

#CreditChat

Wednesdays | 3 p.m. ET#CreditChatWednesdays | 3 p.m. ET

What’s the difference between tax deductions and credits?

Deductions lower your taxable income; credits lower the amount you owe.

Tweet by @DebbiKing

#CreditChat

Wednesdays | 3 p.m. ET#CreditChatWednesdays | 3 p.m. ET

How can feeding your retirement accounts help reduce your taxes?

People who don’t have a retirement account at work are able to defer paying income tax on the amount they deposit in an IRA. Tweet by @LeslieHTayneEsq

#CreditChat

Pre-tax contributions to accounts like traditional IRAs and 401(k)s can reduce your taxable income.

Tweet by @WealthWithMina

#CreditChat

Wednesdays | 3 p.m. ET#CreditChatWednesdays | 3 p.m. ET

What options are available for those who don’t have money to pay taxes?

Go to IRS.gov and apply for an installment plan - pay the balance monthly over as long as six years.

Tweet by @LeslieHTayneEsq

#CreditChat

Wednesdays | 3 p.m. ET#CreditChatWednesdays | 3 p.m. ET

Any final tips for those of us about to file taxes?

Make sure you file even if you don’t have everything. Either file a return or an extension. Not filing is not an option.

Tweet by @DebbiKing

#CreditChat

IMPORTANT NOTE:

An extension of time to file is NOT an extension of time to pay.

You must still pay all or part of your estimated income tax due.

Source: www.irs.gov

#CreditChatWednesdays | 3 p.m. ET

Check out all the resources and tips shared:

ex.pn/taxes

#CreditChatWednesdays | 3 p.m. ET

Join Us Every Wednesday at 3 p.m. ET.

bit.ly/join-creditchat

Subscribe & Check Out: