January 3, 2018
Tax season is approaching quickly. It’s just a few weeks until the IRS officially starts accepting returns, which means now is the perfect time to use the tips below to help you net some last-minute tax-savings and tackle tax season with ease.
The key to easy tax filing is to get organized early and to reach out to our firm as soon as you can. This will help expedite any potential refund you may be entitled to—which is a great incentive to tackle your taxes now!
If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or try to create records months (or years) later. In doing so, they fail to meet the strict substantiation requirements set forth under tax law. Tax auditors are adept at rooting out inconsistencies, omissions and errors in taxpayers’ records, as illustrated by one recent U.S. Tax Court case.
If you’ve ever yawned your way through a wordy, boring document, you might have wondered if your own writing was as hard to understand. Luckily, there’s a great tool to measure the readability of your writing, and it’s as close as your word processor. (Note: For this article, we use Microsoft Word as our example. Details will vary if you use another application.)
Over the past year, we’ve all spent more time than usual at home—which may mean you’ve paid more attention to your utility bills than in previous years. If you’ve noticed a creep upward, here are some easy ways to help keep your energy costs down.