I prefer a tax return of $0

If you file a tax return extension, the IRS will give you an additional six months to turn in your tax return and pay your taxes.

Now is the perfect time to get your stuff together for taxes. Tax preparation is something you should be doing right now, so that you are ready to go when your tax return is due. This is the time of year I start getting my stuff together for the accountant. And one of the things I do is itemize my deductions.
When to itemize your deductions
You want to itemize your deductions on Schedule A of Form 1040 if your deductions add up to more than the standard deduction that is offered. Mine do. Schedule A  includes deductions for your mortgage interest, …read more

One of the biggest fears every American has is a tax audit. While the truth is that you are unlikely to experience a tax audit, it could happen. And there are a few IRS red flags that can increase the chances of a tax audit. Here are some things to avoid when preparing your tax return:

Handwritten returns. Instead, consider having a professional prepare it. Or use software that fills the numbers in for you.
Round numbers. Do not round up. Do not round down. Use exact numbers. Round numbers are among the major IRS red flags. $179.96 should never be $180.
Excessive …read more