Top Tips for Filing Beneficial and Accurate Tax Returns
With two months until the April 18th tax-filing deadline, it is never too early to start preparing your 2016 tax returns. The National Association for the Self-Employed (NASE), the nation’s leading advocate and resource for the self-employed and micro-businesses, today released a list of helpful tips for filing accurate and beneficial tax returns for small business owners and the American public. The tips released today by NASE are focused on helping taxpayers maximize opportunities for saving money and minimizing errors.
“The first important tax filing tip: You can never start too early in preparing to file your 2016 taxes due by April 18th,” said Keith Hall, NASE President and CEO. “To avoid mistakes and errors on your tax returns, now is the time to gather all your documents. Think about hidden or often forgotten deductions; think about what is missing; and think about how all your business costs fit into your overall financial picture. The number one reason for audits and unwanted IRS scrutiny is simple mistakes on tax returns.
“Now is the time for the American public and small business community to get prepared in filing their 2016 returns.”
TOP TAX FILING TIPS
- Gather Your Documents Early – don’t wait until the last minute; now is the time to start making sure you have all your important tax filing documents.
- You’re Not Alone – stay connected; there are resources out there to help you from IRS.gov to NASE.org and tax professionals.
- Educate Yourself About Changes to the Tax Code – believe it or not, there are changes and adjustments to the tax code year-to-year; make sure you find out what they are so you are prepared and can take advantage of them.
- Don’t Forget About Hidden or Overlooked Deductions – don’t leave anything on the table; make sure you are not missing any deductions that apply to you that can make the difference, such as mileage reimbursement, retirement contribution and the home office deduction.
For more information on completing your 2016 tax documents, visit NASE’s tax resource center or the IRS or the Small Business Administration (SBA).
Additionally, NASE has developed a series of tax-related videos to help taxpayers and small business owners better understand ways to maximize the tax code. From hidden deductions they could take to important information about deducting business use of your personal vehicle and moving expenses. To view the full library of NASE Minute videos, please click here or https://www.youtube.com/
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The National Association for the Self-Employed (NASE) is the nation’s leading resource for the self-employed and micro-businesses, bringing a broad range of benefits to help entrepreneurs succeed and to drive the continued growth of this vital segment of the American economy. The NASE Small Business Locator helps identify and connect our nation’s smallest businesses. In addition, NASE’s new health care portal helps small business owners navigate the nation’s health care marketplace. The NASE is a 501(c) (6) nonprofit organization and provides big-business advantages to hundreds of thousands of micro-businesses across the United States. For more information, visit the association’s website at NASE.org.
