People often come to tax attorney Kenneth Hutto with the same questions over and over. Most of these are very basic questions that have easy answers that some people might even consider common knowledge! If you don’t know the answers to these questions, don’t feel bad because you don’t know them, just take comfort in the fact that you know them now.
- What are the benefits of filing early?
- What can I “write off”?
- When should I go to a professional?
- What should I do when I can’t afford to pay?
Basically, if you file early, you will get your refund sooner, if you are owed one. In addition, if you are working with a tax preparation service, filing early will save you money because your tax preparer won’t have to tack on a rush fee to your filings.
The answer to this question is highly dependent on your personal situation. Are you a freelancer? If so, save all your receipts and keep track of your expenses throughout the year. If not, you may be eligible for the standard deduction, but check with a tax professional.
You should go to a professional when you have anything abnormal going on in your tax returns or financial processes, even if you just want someone else to look things over who knows what they are doing. Some people like to have a professional help them with their regular taxes too!
If you can’t afford to pay your taxes, that’s not a good situation and you will definitely need to seek the advice of a professional. There are a few different options to take, but it all depends on what your personal situation is and whether or not it is possible for you to put a small amount on a credit card or get a personal loan, depending on the total amount.
