Is your family’s money mantra, “Easy come, easy go?” Does your family ever talk about saving money or setting financial goals? No matter where your family is on the financial literacy spectrum, it’s important to help your kids learn the value and wise management of money so they grow up to be financially responsible.
There are many details that go into your return, so it is not uncommon to overlook an item in the process of filing a return. It is also possible that after you have filed your return, your employer, contractor, or investment manager will send you a correction on the total income you earned throughout the year.
If you’re like many self-employed business owners, you may be tempted to stick to the tried-and-true tax deductions (your home office, if you have one, office supplies, mileage, meals, etc.) when doing your taxes. However, one important money-saving advantage of working with a tax professional is they can identify lesser known deductions that you may be entitled to, but are unaware of.