3 Ways to Get Socially Distanced Tax Prep This Year

Before COVID-19, doing your taxes often meant carrying a box of paperwork to someone’s office for a long, in-person visit. For many people, that’s no longer a viable option in this era of social distancing. But there are still ways to get your taxes done safely — if you know what to look for. 1. Ask if … Continued

4 Signs You’re About to Get a Tax Surprise

At tax time, it’s often hard to predict how much you’ll owe or receive in a tax refund without actually doing your taxes. But there are some telltale red flags that can mean an unwelcome tax surprise is headed your way, tax pros say. Here’s how to spot the signs — and how to keep … Continued

3 Signs That Itemizing Your Taxes May Be Worth the Headache

For many people, one of tax season’s trickiest decisions is whether to take the standard deduction or itemize. Taking the standard deduction may be faster and simpler, but itemizing could save more money if you have the time and energy to fill out extra forms and dig up receipts. Fortunately, two tax pros say it’s often easy … Continued

6 Surefire Ways to Delay Your Tax Refund

If you’ve got a tax refund headed your way, you’re probably itching to get your hands on it as soon as possible. But plenty of speed bumps can cause the IRS to pump the brakes on delivering that precious pile of dough. Here are six to keep in mind this filing season. 1. Filing your … Continued

Reclaim Tax Breaks You May Have Missed in Recent Years

If doing this year’s taxes made you wish you could go back in time and claim tax breaks you’ve realized you overlooked or forgot on an old tax return, then congratulations, McFly — time travel is possible at the IRS. Here’s how you can rewind the clock on old tax returns and recoup money you … Continued

Here’s What Homeowners Must Remember at Tax Time This Year

Homeownership traditionally comes with some great tax breaks, but lots of things are different this year due to new tax rules. Here are four things that could put a wrinkle in your tax return this filing season if you’re a homeowner. 1. The mortgage interest deduction is different Mortgage interest is tax-deductible, but this year the deduction … Continued

5 Tips for Cutting the Cost of Having Your Taxes Done

Many taxpayers stress about the size of their tax bills this time of year, but many more may be stressing about the size of the bill to calculate their tax bills. It now costs $188, on average, to have a tax preparer do a Form 1040, according to the National Society of Accountants. Itemize and … Continued

How to Make the Most of the Child Tax Credit This Year

The wallet-emptying experience of raising kids understandably fuels a lot of interest in the Child Tax Credit, but thanks to some big changes recently, the fascination could reach Tickle Me Elmo-like proportions. Here are a few things tax pros say you should know about this credit and how you can take maximum advantage of it … Continued

5 Pieces of Popular Tax Advice That Are Actually Baloney

The world is full of tax advice this time of year, but not all of it is good. Here are five misguided, worthless or flat-out bad pieces of tax advice that tax pros say they wish never existed. Bad advice: Get an extension — you’ll have more time to pay your taxes! Why it’s bad: It’s … Continued

Doing Your Own Taxes? Pros Say Avoid These 4 Blunders

It’s easy to make mistakes when you’re trying to do your own tax return, but some mistakes seem to happen way too often. We asked a couple of tax pros about gaffes they see over and over again when people fly solo on tax prep. Here are four big ones they want you to avoid. 1. … Continued