Last Minute Tax Tips

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Last Minute Tax Tips

By KSFY Staff

Story Created: Apr 7, 2008 at 10:30 AM CDT

Story Updated: Apr 7, 2008 at 12:10 PM CDT

With just a little over a week left before the tax deadline there are still a few things that you can do to help yourself for 2007. Our Financial Expert Aaron Maguire has some tips to help get you started.

Aaron what do you recommend?

Get organized!!…Even if you are not ready to file, you can at least make sure you have all of the right information.

File electronically, this will help eliminate mistakes and you will get your refund in as little as 8 to 10 days.

There is still time to contribute to your IRA, SEP or Roth IRA.

Is there a way to file your tax return for free this year?

Yes! If your adjusted gross income was less than $54,000 for 2007 you can actually file your tax return for free.

You can go to the IRS website, www.irs.gov for information regarding filing your taxes for free.

The IRS will connect you to the major companies that offer this service.

What are some common mistakes people make?

Writing down the wrong social security number.

Miscalculations.

Omissions such as the amount earned.

Forgetting to sign and date your return.

Don’t be afraid to get help from a Certified Public Accountant.

For more financial related topics visit www.reliancewealth.com or if you have a question for Aaron, email him at aaron.maguire@reliancewealth.com.

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