It’s tax season again. You’ve got until April 18 to file your taxes, but you might want to get an early start, especially if you think you’ll get a refund. But don’t move so quickly that you make costly errors.
For starters, make sure you include all your W-2 forms, along with investment-related documents, such as Form 1099-INT for interest received and Form 1099-DIV for dividend income.
Also, make sure you enter your Social Security number correctly. And if you want your tax refund to be deposited into your bank account, be sure to enter your routing and account numbers accurately.
Fortunately, if you submit your return electronically, the e-file system can detect common errors, allowing you to correct them immediately. And, of course, working with a tax professional can greatly reduce the likelihood of mistakes.
But even if you’re entrusting your tax returns to someone else, you still should be quite familiar with all your documentation, and every other element related to your taxes, too – because how you manage your taxes will always be part of your overall financial strategy.
This content was provided by Edward Jones for use by Daniel Pellerin, your Edward Jones financial advisor at 189 East Main Street Suite G, in Newport, (802) 334-6261.