Tuesday, January 12, 2010

NFS Presents: Nine Tax Time Tips

While the tax filing deadline is more than three months away, it always seems to be here before you know it. Here are 9 tips that will help your tax filing process run smoother than ever this year.


  1. Start gathering your records. Round up any documents or forms you’ll need when filing your taxes: receipts, canceled checks and other documents that support an item of income or a deduction you’re taking on your return.
  2. Be on the lookout W-2s and 1099s will be coming soon from your employer; you’ll need these to file your tax return.
  3. Try e-file When you file electronically, the software will handle the math calculations for you. If you use direct deposit, you will get your refund in about half the time it takes when you file a paper return. E-file is now the way the majority of returns are filed. In fact, last year, 2 out of 3 taxpayers used e-file.
  4. Check out Free File If your income is $57,000 or less you may be eligible for free tax preparation software and free electronic filing. The IRS partners with 20 tax software companies to create this free service. Free File is for the cost conscious taxpayer who wants reliable question-and-answer software to help them prepare a return. Visit IRS.gov to learn more.
  5. Consider other filing options There are many different options for filing your tax return. You can prepare it yourself or you can have me prepare it for you. Give yourself time to weigh all the different options and find the one that best suits your needs. I can work by appointment, mail, or email and I always have a do it yourself option available on my website.
  6. Consider Direct Deposit If you elect to have your refund directly deposited into your bank account, you’ll receive it faster than waiting for a paper check.
  7. Visit www.nfsnet.com again and again My website is a great place to find everything you’ll need to file your tax return: forms, tips, answers to frequently asked questions and updates on tax law changes.
  8. Review! Review! Review! Don’t rush. We all make mistakes when we rush. Mistakes will slow down the processing of your return. Be sure to double-check you have included all of your documents. I always have an organize available for you to use.
  9. Don’t panic! I am here to help. Call 800-5604NFS or drop me an email jeff@nfsnet.com

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