It is that time of year; time to get your finances in order so that you can file your taxes. While you technically have until April 15th to get the job done, there are several reasons you might want to consider filing long before then. Sometimes, when you wait until the bitter end to get it done, it can end up biting you in the backside. Mark Dicus & Company is here to talk about some of the reasons why you might want to think about filing those taxes sooner rather than later.
Is there a Benefit to Filing Taxes Early?
There are some serious advantages to living your taxes early on in tax season.
– Faster Tax Return: If the IRS owes you money, you will get that money much faster when you file early on. This is something that most people are anxious to get. You can speed up the process further by giving the IRS your bank routing information so that they can directly deposit the money that is owed to you into your bank account.
– Tax Breaks: When you get started early on and aren’t under the gun to get your taxes filed, you will be able to double check everything to ensure that you’re taking advantage of all the tax breaks that are available to you. Sometimes, when you’re in a hurry, it can be easy to forget. When you’re working with an accountant, they will help ensure you’re taking advantage of all the tax breaks available to you as well.
– Collect Documents: There are often several forms that are needed to get your taxes filed. When you get started early, you will have plenty of time to collect all the documents that are needed. If you find that you are missing any, you don’t need to feel stressed as you have the time you need to locate anything you need.
– More Time to Make Payments: Sometimes, you might find that you owe the IRS money rather than the other way around. When you get your taxes filed nice and early, you will more time to get that paid. You will have more time and more options to pay your bill.
– Protect Your Information: There are criminals out there that try and steal the identity of others to file fraudulent tax returns. When you get yours filed early, they will no longer be able to try and use your social security number to do this. Hopefully, your information is safe already, but if there is a leak somehow, filing a fraudulent tax return will be a dead end for those criminals.
Tax Preparation, Filing, Planning & More in Salt Lake City, St. George, West Valley City, Provo, Orem, West Jordan & Greater Cedar City, Utah
If you’re ready to file your taxes, you can turn to Mark Dicus & Company to help you get your taxes prepared. We will help ensure that you’re taking advantage of any tax credits and deductions that are available to you. Call us today!