How to File Your Taxes Safely
Tax season is upon us again. Whether it’s your first time filing or you’re trying to get a head start this year, we have some tips to help you file your taxes safely.
Now that tax time is here, it is important to be aware of possible tax fraud and tax-related identity theft. Identity theft happens when an individual’s Social Security Number and other personal identification information has been stolen. In the case of tax fraud, the information is used to file a false tax return resulting in the tax refund being sent to the fraudster. There are some steps to take to reduce your risk.
Looking for a last minute tax deduction? Consider an IRA contribution. With only 53% of working-age families participating in retirement plans, according to a 2013 report from the Economic Policy Institute, it’s important to save as much as you can. Take advantage of your tax deductions by contributing to an IRA — boosting your retirement savings.
Tax season has arrived! If you are employed, you’ve most likely received your 2017 W-2 by now, which means you can start filing your taxes. Regardless if you’re working with a professional, filing your taxes online by yourself, or if you’re a tax-filing expert, it’s important to do these three things before filing.
I know you just filed your 2015 taxes and you’re probably ready to not think about them for 12 more months. But! Thinking about next year’s taxes now can save you a lot of time in 2017.
Do you think about your retirement on a daily basis? I know I don't. Retirement seems so far away for me. It’s easy to just contribute to a 401(k) at work and forget about it, but there are other options to explore. Let’s talk about one of those options today: an Individual Retirement Account (IRA).
The word “taxes” strikes fear into a lot of people. But that doesn’t have to be you! Between now and Tax Day, we’ll be covering some common tax questions we get at the Credit Union, including options for IRAs. But first, let’s talk about something fun: tax returns.