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4 Common Mistakes You Should Not Make During Tax Season

Tax preparation requires some peculiar skills, including accounting, mathematics, paperwork, and most importantly, practical knowledge of the latest tax laws. Even though plenty of people try do their own, that not be the best of ideas.

Preparing the tax returns on your own can turn out to be a disaster. That said, even a minor mistake in calculation or comprehension of the tax-law can result in serious problems. It could lead to IRS opening an audit of your taxes to look through every detail.

Here are some common mistakes people make while preparing their tax returns.

1-Using wrong tax form

One very common issue people face is they don’t know which tax form they should use. It can be difficult for people because they have to choose from several options. One easier way to counter this problem is by using tax preparation software. The developers of these products regularly update them to make sure that you have the latest and correct tax forms.

Moreover, if you are still not sure about it, consulting a tax professional will be very helpful. Moreover, the IRS website will be a good option for guidance related to form selection if you are doing it on your own1.

2-Numbers/Figures Mix-up

Beyond the basic W-2 and 1099s which filling in details can be straightforward, there are other issues. A really sensitive or risk-prone part of the process because mathematical errors are always a possibility. If you are not well versed in doing this, you may end up making serious mistakes while calculating things. Moreover, if there is a discrepancy in your tax return, your amount payable or amount refundable can be negatively affected2.

3-Incorrect or Misspelled Name

Another very common mistake people make is misspelling their names while preparing their tax returns. Some people even file their tax returns with an incorrect name. For instance, the second name for females changes after getting married. Therefore, make sure that you are using the official name on your tax return3.

Your name and social security number must match, and it can cause serious problems if you failed to inform the Social Security Administration regarding your name change.

4-Not Adding Extra Income

You will also receive 1099 (for additional earnings) if you earned additional income apart from your regular job. So, when you are preparing your tax returns, make sure you have accounted for your additional income as well4.

The IRS also gets notifications about your additional earnings when you receive 1099. That means, if you failed to mention your additional earnings on your tax return, IRS would notify you about your mistake. This can consequently lead to tax penalties.

Try To Keep Your Tax Return Accurate

Having a good understanding of common mistakes people make in filing their tax returns and avoiding them is very important. You can always get help by searching for different options online. However, make sure you are hiring a trusted and reputable person or service.

1. https://www.irs.gov/newsroom/which-tax-form-should-you-file

2. https://www.neamb.com/personal-finance/4-tax-return-red-flags-that-could-get-you-audited

3. https://www.hrblock.com/tax-center/support/online/online-tax-filing/finalizing-online-return/tax-return-wrong-name/

4. https://smallbusiness.chron.com/happens-dont-report-self-employment-income-16135.html

5. https://blog.taxact.com/dont-make-these-mistakes-on-your-tax-return/

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Looking for help paying property taxes? Here’s how to find relief

Property taxes are like hidden fees that you must pay if you own any type of real property. Not only are property taxes a burden on all homeowners, they can be more challenging for seniors. The market value of your real estate increases over time, it also increases the taxes you pay, and sometimes owning a home seems impossible.

If you’re having a tough time with your property taxes, here are some options you can try:

Reassessing the value of your property

Assessing the estimated value of your home or property is an important factor in determining your property tax. Fortunately, if these taxes are high, you can reassess the value of your property1. For that, you will need a real estate agent or a real estate appraiser who has enough experience in this field. The market value assessor will compare your home to similar properties in your neighborhood or city and how much they are worth. This helps the appraiser estimate a more accurate market value for your home.

Get help with a tax relief program

Getting help from a tax relief program is another good option if you are having trouble paying your property tax2.

Property tax relief programs are different in different states or even counties. However, these programs are very effective in freezing, reducing, or even granting you tax breaks; Just search for a suitable tax relief program online. For example, Tennessee offers a tax relief program in more than 20 counties. If you live in New York, Los Angeles, or Austin, and many more cities, you can check with your city or county which tax relief programs are available. This can help you lower your property taxes by thousands of dollars.

It is possible to freeze property taxes, which limit the property tax in question to a specific amount. Also, the property tax relief removes or reduces the amount of the tax. This option is available to homeowners who meet the qualifying criteria.

Be on the lookout for exemptions

Some counties, cities, or states grant different types of exemptions if you qualify for the required criteria3. For example, you are eligible for exemptions if:

  • You have specific disabilities or abilities.
  • You are a senior citizen.
  • You are military service personnel or a veteran.
  • Lives or resides on farm property.

If you fall into any of the above categories, please contact your local tax authorities.

Appeal your tax bills

There is another feasible option available if your efforts to reduce your property tax have been in vain. You can use the Tax Appeal option to appeal the property tax. With this option, you can save thousands of dollars4.

Hire an attorney, and he / she will guide you through the entire process, for example you may need pictures of your property / home, take notes on the condition of your home, or even have a new appraisal.


Once the local tax board receives your appeal, they will review it, but this process can take weeks or even months. If the board approves your appeal, it will reduce the amount of property tax and the value of your property.

Find discounts

There are several options that can help you save money on your property taxes; you just have to keep looking for them. You can search for those options locally or in your home state. Also, keep searching online platforms for any type of tax relief available.

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Top Universities Are Now Letting You Get Degrees Online

Americans have learned over time that without a degree from a university, the chances of getting a decent job is quite slim. Having a degree opens new doors for progress in career, and helps you to reach your financial and life goals.

We understand that in reality, it is not possible for everybody to continue their education, mainly because of family, commitments and timing constraints. However, to continue their study, many people just need a little bit of flexibility so that they can manage everything at one time.

Luckily, many universities are offering online courses now to provide you with the flexibility that you were always looking for. It is now possible for anybody to get their degree online and start progressing in their career.

Why Should You Choose Online Degree?

Online degrees are being accepted now because of several reasons.

  • The course which you study online is the same as the one which is being offered on-campus. Above all, there is going to be no difference between the degree of an online student and an on-campus one1.
  • You can get the education from some top universities straight to your computer, and this is highly beneficial for working individuals2.
  • Online access to classes and video conference tools links students to the same professors teaching on campus. This makes online courses as popular as conventional classroom education.
  • If you stopped your education because of financial reasons, then online degree might be the best option for you as for an online course the cost is lower3.
  • If the tuition fee is not substantially lower than the conventional alternative, you are still likely to save hundreds of dollars in transportation, room and board, and textbooks annually.

Even the Top Universities are Offering Online Degrees

There are many reasons why so many students are choosing to get their degrees online. Not only it offers you flexibility, but you can also get the same degree with lower educational costs.

It is quite easy to be confused when choosing the right course for yourself because of the availability of too many options. Luckily, some top universities are making this decision easy by offering their in-demand degrees online4.

You can get an online degree from the following reputable universities.

  • Arizona State University
  • Ohio State University
  • Oregon State University
  • University at Buffalo – SUNY
  • University of Alabama

The above universities and colleges are also known for their on-campus education. And now, students from everywhere will have access to the same level of education by graduating online. You will have access to professors who can train you for just about any area, from engineering to the media.

Also, with a degree from one of these leading online graduation courses, you’re going to be able to experience a great future.

It’s Time to Get Your Online Degree

As discussed earlier, an online degree is going to open doors to your better future. Besides, studying from home can be extremely beneficial for independent individuals. Although there are many students still unaware of this incredible opportunity, you on the other hand can start your journey to get an online degree.

With a little bit of online research, you can find many more universities offering degrees online, including the ones we mentioned above. Before you make any decision, compare the tuition fee and the courses offered to get the best deal possible.

1. www.learn.org/Why_Should_I_Choose_an_Online_Learning

2. www.study.com/articles/Why-Choose-Online-Learning-Overview

3. https://www.affordablecollegesonline.org/financial-aid/online-college-degree-cost/

4. https://www.usnews.com/education/online-education

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Here Are The Top Reasons Why People Are Choosing A Nursing Degree

Nursing is very thrilling and enriching. Along with very attractive benefits, it gives the satisfaction of improving lives every day.

On top of that, it is easy to get started, from home, and with financial support available for those who qualify. Many higher education institutions offer online nursing degrees. These programs work as great options for people who cannot enroll in traditional degree programs. Students with other demanding responsibilities, like taking care of families or working full time, often opt to pursue distance learning programs.

THE POWER OF NURSES

Nurses are typically considered the backbone of the healthcare community. Professionals in this field provide direct care services to patients, work closely with physicians, help administer medication, diagnostic exams, and educate the public about treatment and disease prevention. The majority of them practice in hospitals, health clinics, rehabilitation facilities, and outpatient centers.

KEEP IN MIND

There’s also a growing number in demand for graduates since health related degrees are needed more than ever. And as always, please do your research online to find out which nursing program is the best fit for you.