Tax season in New York is stressful for many, but for informed taxpayers, it is an opportunity to recover overpaid money. We often overlook small expenses in a hurry that add up to a significant sum over the year. As your local tax expert, I will tell you what to pay attention to this year.
Document every life change
Marriage, the birth of a child, or perhaps buying a house in Maspeth or Ridgewood? Each of these events drastically changes your tax situation.
- Collect receipts for mortgage interest.
- Remember about childcare costs.
- Report education expenses.
Working as a contractor? Keep track of your expenses
If you run your own business (even part-time), receipts are your best friend. Fuel, tools, and even a portion of your phone bills can be tax-deductible expenses. The key is to separate private expenses from business ones.
Schedule a tax consultation and stop overpaying the IRS.
