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Last Minute Tax Tips

by Nicole on April 13, 2010

It’s almost tax time! I was fortunate enough to attend a webinar on blogging (sponsored by H&R Block) and taxes and mine are done! Are yours? If not, here are some last-minute tax tips directly from the professionals at H&R Block:

  • Life changes can mean tax savings. If you bought a home, got a paycheck, invested in higher education or are a parent, you could take advantage of several tax incentives for your 2009 filing
  • It’s not too late to impact your taxes by April 15. There are three things you can do now to impact your 2009 return: you can contribute to an IRA, health savings account or buy a home
  • Filing an extension is not an extension to pay. If you file an extension, you have until Oct. 15 to submit a completed tax return. But to avoid failure-to-pay penalties, taxpayers should estimate their bill and send at least 90 percent of what they owe with the extension by the April 15 filing deadline
  • Don’t overlook key deductions. Taxpayers might not realize they can deduct certain medical expenses, job search expenses, charitable donations and state and local taxes
  • Taxes are complicated, but there’s help! With nearly 300 new tax law changes this year, taxpayers may need help figuring out whether they’re getting all the credits and deductions they’re due.

If you’re still in need of tax software, check out the FREE Tax Act downloadable software!

I am not a tax professional and these tips come directly from the webinar I attended from H&R Block.

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