Tax Day Tips
Tax Day will be here before you know it. If you’ve already filed your taxes with the IRS, CONGRATULATIONS. You may find one of these helpful tax tips useful.
1. Give Yourself a Break (or Nine): If you’re a homeowner who’s been saving time by taking the standard deduction each year, you may be paying more than you need to! From mortgage interest to energy credits, there are several ways you can reduce your taxes through itemized deductions. Check with your tax professional for a complete and updated list.
2. Know Your Tools: The IRS website is loaded with tools to help you prepare your taxes, most notably, the Interactive Tax Assistant (ITA). With the ITA, you simply type in the topic you’d like to learn more about, like “Mortgages,” and you’ll be redirected to any helpful articles or calculators on the IRS website. And, if you’re using tax preparation software to file this year, be sure to familiarize yourself with the tools they have to offer.
3. Trust the Professionals: A certified public accountant (CPA) is your best source for any specific tax questions. And, as your real estate agent, I am your go-to resource for any real estate-related questions or concerns that may come to mind. From mortgage refinancing to home repairs and upgrades that could result in deductions, feel free to text or call me any time, day or night.
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Make an appointment with a Keller Williams Pasadena Real Estate Agent.
Written by Keller Williams International. Photo by Unsplash
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