US Finance: Taxes – Tax Deductions

Tax Deductions and Online Filing Make Taxes Easier

(NUI) – Tax time is coming fast. Are you ready? Don’t be one of those people who rush to the post office at the end of the day on April 15. Instead, start planning now so that you can avoid the headaches of last-minute filing.
Here are some tips to make this tax season as painless as possible.

Make the right deductions. You can deduct for many things. It’s important to know all of the deductions you can make because you could be unaware of many possibilities. The following are some of the deductions you may want to make:

* Medical expenses.

* Disaster expenses, including repair after hurricanes, floods or tornadoes.

* Moving expenses.

* Home office expenses.

* Investment costs.

* Work clothes and uniform costs.

* Legal advice costs.

* Job hunting expenses.

Report all employees’ income. Make sure you report any yard-care or household employees. Everyone has seen political figures get into trouble for not declaring gardeners or butlers. Don’t make the same mistake.

File taxes electronically. Nielsen//NetRatings reported that more than 22 million Internet users visited an online tax service site in February of 2003, an increase of 15 percent from 2002.

More taxpayers are going online to file their tax returns because it is faster, easier and more affordable. It’s much easier and cheaper than software applications, which must be purchased every year to accommodate changes in tax laws and forms. Online filing services, like Tax Centers of America, eliminate this added expense because taxpayers do not have to buy something new each year.

Tax Centers of America says it offers taxpayers a way to file their returns quickly, efficiently and with the assurance that their personal information is protected under terms of privacy. Plus, unlike most software packages, it offers individual state return e-filing.