When doing your owntaxes, don’t over look an entry because you don’t understand it, or worst,because you think you understand it and you just move passed it. Each question has an ending result.
One of the realreasons the IRS doesn’t complain about all the incorrect taxes which are filedby taxpayers preparing their own taxes, is because the software companies havemade it easy for you to make mistakes in the IRS favor.
Always remember thiswhen doing your taxes. It may take justone click to increase your refund by hundreds of dollars. For the most part, the consumer software doesan excellent job on non-technical tax returns, meaning, if you only have one W2 andlittle else to report, the major consumer software does a great job.
If you have aSchedule A, look at the bottom of the Schedule A 1040 Tax Form. You will find Line 21 – Job Expenses. If you understand which items you can writeoff, then go for it. If this puzzles youin any way, you need a tax professional.
This one lineincludes over 18 different expenses for your work which you were not reimbursedfor. Everything from Union Dues to your cell phone because you were on call orwas expected to use your cell phone to complete your work, to the cost of your uniforms and or the maintenance of your uniforms. It includes your still toe boots, if you are required to wear on your job, as well as your helmet and some tools which are used for your work. If you are an entertainer who needs that special makeup, which holds up under the heavy lighting, then you need a tax professional. This is not a line that you just want to fluff.
Every year Congressvotes in 90 to 150 new tax laws, and the consumer software companies usuallyalways get it right, but they don’t always have the time to program thesoftware to ensure that “you” get it right.
If you have a simple,easy to do, tax return, then by all means, save yourself some money and do yourown tax return. Of course you do knowabout the tax credits you may qualify for if you earn under a certain amounteach year? Read every question, answereach question, take your time.
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