21Filing for tax return in South Orlando and all over the US, is usually considered as one of the most hectic tasks, one has to perform annually. This is because the procedure of filing a tax return in South Orlando is a long and complex one that demands quite a lot of attention. To ease your tension, here we are outlining the few important things that you must remember before doing your taxes this year.
Get your documents ready
Filing tax return in South Orlando basically depends on the collection, organization and submission of the documents. Therefore, getting ready with all the required documents, is the first thing you need to do.
Whether you are doing a job or are self-employed, there is a set of basic documents that you must get ready with, before paying a visit to the office of the chosen tax service in South Orlando. These important documents include,
- Identification- you need to have a photo ID, such as driver’s license, passport, etc, to ensure that you are the same person whose name appears on the form. With that, you would also need to have yours, your spouse’s and any other dependents’ social security card ready, as you’re the tax preparer would need these.
- Income statements- list all your sources of income, not just your job or business, and get official statements of income from them. The IRS evaluates each of the sources that you are earning from.
- Expense proof- keep a record of all of your purchases you make, since the beginning of the year, as these will bring deduction to your tax return in South Orlando.
Check for possible deductions
Once the documents are ready, it’s the time to examine them for possible deductions. Taxpayers, businessmen in particular, are very keen to monitor this phase, because, even a small deduction can bring a significant difference in the company’s bottom line.
Include all your expenses such as education loans, health insurances, job hunting expenses, business travel expenses and even the charitable donations you make. This would greatly minimize the huge burden of taxes you need to pay.
Don’t miss the deadline
If you are ready with all the needed documents and have also scanned them for all sorts of possible deductions, but miss the deadline, then all goes in vain. Therefore, always keep a track of the deadline, which is April 15 for filing a tax return in South Orlando. You can even apply for an extension, but before the deadline.
Make a checklist for reference
Once you are done with your taxes, never forget to make a checklist of all the documents you were required and deadlines you had to remember. This will help you in the upcoming year to file your tax return in South Orlando with greater ease.
So this year, before you file your tax return in South Orlando or anywhere else, do remember the above mentioned tips.
If you need more information about our South Orlando 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 number, incorporations, and non profit 501c3 tax exempt.