8 Tax Mistakes to Avoid

Here are a few tax mistakes you should try and avoid this tax season:

  1. Grammatical errors – Make sure your name is spelled correctly and that you used the correct Social Security Number.
  2. Taking the Wrong Education Write-off – Always consider whether an education credit or the tuition and fees deduction would be more beneficial for you.
  3. Investments – Double and triple check your cost basis in investments when reporting a gain or a loss.
  4. IRA Contributions – Do not forget to report your contributions to a traditional IRA.
  5. Home Office – If you have a home office, you may be able to deduct some of those expenses using the home office deduction.
  6. Overlooking Donations – Try to remember every place that you donated money to, especially since some charities are now emailing receipts instead of printing them out.
  7. Deductions for Items in Front of You – Don’t forget to deduct any tax preparation fees, financial advisor fees, and safety deposit box fees.

If you need assistance with your tax situation, contact our law office at

816-524-4949 or www.Hoorfarlaw.com.

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