As tax season quickly approaches, many households across the country are beginning to gather up their relevant documents and plan their deductions. Filing taxes each year can be stressful. Errors can result in hefty penalties from the IRS and failing to properly document all deductions can cause people to have a much higher tax bill than they should. Here are the top ten tips to help people avoid making errors this year on their tax returns.
1. Consider Delaying or Accelerating Income to Achieve Desirable Tax Brackets
Those who know that they are going to be in the same or a lower tax bracket next year should consider delaying income, such as bonuses, until January to avoid extra taxes at least for this year
