You’ve moved out of mom and dad’s house, got a decent-paying job and now it’s time to file your taxes. Don’t be scared. You’re officially an adult. Taxes may not be fun but they are a part of growing up and being a professional. Get in the swing of it and it will be easier every year.
Here are some tips for you young professionals:
1. The first day the IRS began processing individual tax returns was January 31st. Those who file early still have to wait until mid-late February for their return. (The government shutdown of Fall ‘13 was the cause of this.)
2. File early and expect a return in around 21 days. If you file on or around April 15th you most-likely will have a delay in your return. (Just get it done as soon as you can!)
3. Take advantage of tax deductions and credits. Around 70% of tax-filers just use the 1040EZ form and file with one deduction. Take advantage of the money the government will give you and know what you can deduct!
4. The IRS website (www.irs.gov) is a great tool for those who want to find information on credits, deductions and codes. Check it out and you can call us for any other questions or when you are ready to file your taxes.