Tax Time: Take It Slow

Studies show that the majority of people overlook deductions when paying their taxes each year. Don’t rush, take your time and save yourself money this year. Spend time getting the records that you will need in order and have a system for archiving documents you need to store. Don’t go overboard on the deductions however, as this could be a red flag for an audit. If you are audited, remember that you do have rights. Don’t forget to check out recent legislation that may help you increase your tax return. If you have long-distance phone service, chances are that you can benefit from the federal break on excise tax on your long-distance phone service.