Happy Valentine’s Day! (Don’t forget … it’s coming soon.)
Here’s another important tip from your friends at US Insurance Insurance. I hope you find it informative and useful. Please pass it on to those you love!
I thought I’d send you some tax tips now in case you’re the kind of person who gets them done early. Here are some of the most common errors on tax returns. If you avoid errors, you minimize the chance of an audit … and NOBODY wants to go through that!
* Mistakes on social security numbers tops the list of tax return errors.
Make sure all the SSNs on the return are correct. And it’s a good idea to put your SSN on each page of the return in case the pages get separated at the IRS.
* Math errors are another common mistake – especially when subtracting. If you’re not using a computer or tax-preparer carefully check the math. Do like Santa Claus and check it twice!
* Forgetting to sign and date the return. Yeah. Happens all the time. And remember for a married couple filing a joint return, both must sign.
* Failing to attach all the paperwork – like W-2s.
* Putting income in the wrong place. This is interesting. If you record dividend income as interest income – like for mutual funds – the IRS computers will probably see that as under-reporting dividend income, because they get that information from the mutual fund companies. Then the hassles begin.
* Failing to file because you can’t pay in full. BIG MISTAKE! File your return on time, even if you can’t pay the tax due. Willful failure to file is a federal crime. You’ll only pay interest on amounts past due.
* Failing to file when no tax is due. I guess it happens. You gotta file the return whether you owe any money or not.
There’s lots of information on the Internet to help you avoid problems.
Just do a search on “common tax errors”.
All of us here at US Insurance wish you a joyous tax season! OK … how about a reasonably fun tax season? OK … good luck, we hope you get through it. How’s that?
Seriously, though, I hope this information was helpful to you. Thanks for thinking of US Insuarnce Agency for your insurance business.
Thank you,
Rich Krasnomowitz – I can be reached at richk@usinsagency.com or view our webiste www.usinsagency.com
PS It’s sad, but there are people in this world who will take everything you have if given the chance. Of course, your insurance will foot the bill … but ONLY IF you have enough. If you don’t it could literally ruin your financial life. Good news …
A whopping million dollars of protection can be as little as $12 a month!
Erase your worries and your fears. Contact us today about a Personal Umbrella policy.
