The window for 2014 year-end tax planning is closed, but in the run up to filing season there are still a few easily overlooked deductions and credits you should be aware of. In compiling the necessary forms and filling out your taxes, it’s not uncommon to forget about certain filing deadlines, maximum amounts or other credits that you could receive.
These potential blunders include:
Make sure to store not only your returns, but also any paperwork, statements and charitable donation records. Having this paperwork will help you answer any claims by the Internal Revenue Service and will also help streamline next year’s tax return process.
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