Ever since tax softwares have come into being, for accountants in St. Cloud, FL, fewer mistakes are being seen in tax returns. But they still are there. Input one piece of incorrect information, and you may end up paying more taxes than necessary or you might not get that big enough refund, which you were expecting. Even if the mistake does not cost you any money, it can still delay processing.
Hiring an accountant St. Cloud, FL will help you ensure that you do not make most of these mistakes. An accountant will go through your return carefully, ensure everything is in order and ascertain that you are paying the least possible taxes.
For right now, we will go through some of the most common mistakes that are seen year after year on so many tax returns.
As an accountant in St. Cloud, FL, I know that wrong calculations are one of the worst mistakes you can do with your taxes. Make this blunder and you will certainly be paying the wrong amount in taxes. If you are filing the paper based return form, you have to be extremely careful with this. As for e-filing, calculations are not an issue, but you still have to input all figures right. Make a mistake with these, and all calculations will go wrong.
By the way, even with paper based forms, you must enter all numbers carefully. Whichever return you have, once you are done, check it thoroughly.
Incorrect names and numbers
You have to provide your name and your social security number on your tax form. If you are claiming any dependants, then you have to provide their names and social security details. This is another area where mistakes are frequent. People enter wrong names on their spellings or incorrect social security numbers.
Please make sure that the spelling of your name on the tax form is exactly the same as the one given on your Social security card. The same goes for all your dependants as well.
Not signing the form
At the end of the return form, you have to sign it. Yes, this is so apparent, but so many people still forget it.
Direct Deposit Dangers
The IRS allows you to deposit your refund amount in a number of accounts. Yes, this helps you in saving the return, but there is a problem as well. The more numbers there are on your form, the greater will be your chances of mistakes. If you still want to avail this option, make sure your bank account number is correct. Should this not be, you r refund might be awarded to someone else.
Wrong Filing Status
The IRS allows you to file under four different statues, which are subjected to different tax percentages. Make sure you have chosen a correct status for yourself.
We suggest that you should hire accountant St. Cloud, FL because they can help you in avoiding the above mistakes. They will review your form a number of times, and will file it only when it is in order.
If you need more information about our St. Cloud, FL accounting and tax services, please contact us at 407-502-2400. Freedomtax Accounting’s staff has been providing honest accounting services and tax services for 15 years. Our Orlando accounting and tax firm has its main offices in Kissimmee, FL. Our services are provided nationwide, but mainly in the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, Clermont, Davenport, Hunters Creek, Lake Nona, Celebration, Winter Park, Windermere, Dr. Phillips, Maitland, Altamonte Springs, Winter Garden, Ocoee, Apopka, Belle Isle, Edgewood, and Oakland FL. Our tax accountants and IRS enrolled agents (irs ea) specialize in corporate accounting and bookkeeping, tax services, tax preparation, back taxes help, tax debt relief, tax resolution, tax planning, itin numbers, incorporations, and non profit 501c3 tax exempt.
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