Tax day, April 15th 2014, is exactly 7 weeks away. Time to get crackin' on assembling whatever information you need to file your 2013 taxes!
With tax time coming up, Park Slope accountant Christa Scoupy, CPA, of Auxilia Accounting, offers some free advice. She recommends:
1. Get organized. "A lack of organization and transparency can lead to lack of clarity regarding your financial situation," for individuals as well as small businesses. This, she says, can "lead to years of not filing taxes and piles of unanswered tax notices."
2. Avoid common errors. Ms. Skoupy flagged such items as missing income. wrong deductions for home office. unreimbursed employee expenses and overstated business deductions.
The IRS' explanatory forms are concise, but both the forms and the explanations of what you need to fill in can look daunting at first glance: