Tax time only comes but once a year, yet for many it's dreaded from one season right thru to the next!
If the term 'self-employed' was added to your resume then income tax filing procedures have changed. Possibly from many slips with lots of deductions to a few or no slips with zero deductions and a lot more bookkeeping for you?!
If you're still procrastinating consider this post a gentle reminder for you...
United States
Income tax returns for the 2009 tax year are due (for calendar year taxpayers) on April 15th, 2010.
- Internal Revenue Service (IRS)
Canada
Income tax returns for the 2009 tax year are due (for calendar year taxpayers) on April 30th, 2010.
- Canada Revenue Agency (CRA)
Tips...
- If you aren't comfortable filing you own tax return seek out a professional but do your research. Many will claim to have the knowledge to prepare tax returns, but don't.
- Ask for credentials, training and experience. You need to know they understand the theory behind the line#'s, box #'s, deductions, have been updated with current changes in the tax laws etc.
- Don't shop by price alone. A referral that extends back (long term 4+ years) is a good guide. Paying a lower price for tax preparation may benefit short term but sometimes, you get what you pay for.
- For paperwork I say... When in doubt, don't throw it out! No receipt = No claim, pretty simple.
- Regardless of what your tax preparer submits to the government on your behalf, the onus is always on the taxpayer! Regardless if it's fudged by accident or accidentally fudged on purpose.
- Fearing brown envelopes in your mail, such as government reassessments, is not a nice feeling. They don't generally bring good news and ignoring them won't make them disappear!
Thanks for visiting, please feel free to comment.
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