March 1st is coming… Ready to file your taxes?
It’s almost that time again: starting March 1, you can file your tax return. A thrilling moment, as you’ll find out whether you’ll get a refund or need to pay extra. Make sure to submit your tax return before May 1 to avoid penalties. Need more time? You can request an extension.
Can you reduce your taxable income?
No one likes paying more taxes than necessary. That’s why it’s smart to check which deductions can lower your taxable income. Here are a few examples:
- Mortgage interest deduction: Often an important deduction for homeowners.
- Healthcare expenses: Medical costs you’ve paid out of pocket and that aren’t reimbursed by your health insurer may be deductible in certain cases.
- Donations to charities: Make sure the organization is officially recognized, and keep your receipt.
- Pension savings: Do you have unused annual allowance? Making use of it can be tax-efficient.
If you’re unsure which deductions apply to you, we’d be happy to help you figure it out!
Check your details
Before submitting your tax return, it’s important to double-check everything. Have your income and deductions been entered correctly? Are your assets and other details accurate? Mistakes are easily made but can lead to unpleasant consequences, such as an additional tax assessment or even a fine. Fortunately, you can correct any mistakes as long as you haven’t received your final tax assessment yet.
How can you make it easier for yourself?
We understand that completing your tax return can be stressful and time-consuming. With so many rules and exceptions, it’s easy to overlook something. That’s exactly why we’re here.
We know the rules, understand what to watch out for, and ensure that your tax return is completed correctly. This way, you don’t have to worry about missed deductions or unpleasant surprises later on. By leaving the work to us, you’ll have more time and energy for the things you’d rather focus on.
Need help filing your tax return? We’re happy to assist! Feel free to contact us using the details below.
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