Have you appointed an tax accountant in Orlando to help you out with your taxes? Doing so has many advantages. The process is simplified, your efforts are reduced, and you can save money. Other than this, availing the services of a reputed accountant in Orlando also helps you in avoiding tax blunders. An accountant is already aware of common mistakes, and will make sure that you do not make any.
The IRS has highlighted a number of issues that they often face because tax filers make plenty of mistakes while filling out the form. This can delay your returns and you may even have to face an audit. Does not sound good, right? Hire a tax accountant in Orlando so that you can avoid these blunders.
Forgetting To Sign
So you think you would never do this? Whatever you might believe, the IRS lists this as the number one tax mistake. There are so many people who forget to put a signature on their return. If you are among such people, you should know that your return will not be accepted until it bears your signature. And if you have a spouse, make sure he/she signs it too.
However, if you have an accountant to help you out, he/she would instantly make sure that the signature field is not left blank in any case. The same goes for all other fields on the form.
Selecting An Incorrect Filing Status
There are five main filing statuses: single, married couple filing jointly, married couple filing stingingly, head of the family and widower. Many people select head of the family as the status, and in many a cases, they fail in meeting the requirements. Your accountant in Orlando will evaluate your profile and determine correctly which filing status you qualify for.
Providing Wrong Security Numbers
Another blunder that you think you would not make? You just may do it. A lot of individuals enter wrong social security numbers for their spouses, children and dependants. If any of these meet the requirements for Child Tax Credit or Earned Income Credit, you would have to enter the numbers just as they are given on the social security y cards.
Not Providing The Full Income Amount
When you fill your tax forms, you have to provide details on all your income sources and the amounts that you earn from them. While you may be keen to miss out some of these, any tax accountant in Orlando would advise you otherwise. Whether you accidentally or purposely miss out on these details, you would have to pay a significant amount in penalties.
Not Using The Earned Income Credit To Your Advantage
The Earned Income Credit is for people who can be categorized in the low to moderate income bracket. While you may not be so sure if you qualify, an accountant would certainly be able to tell you. If you do meet the requirements, you would probably have to pay lesser amounts in taxes.
If you need more information about our, Orlando accounting and tax services, please contact us at 407-344-1012. 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, and Hunters Creek, 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 status applications.