Tax season is upon us and with it comes the joy of a tax refund, if you’re lucky, or the dread of a high tax bill — or worse, a tax audit. To help you prepare to file, we asked financial experts to share their knowledge as part of GOBankingRates’ Best Money Expert 2017 competition.
When you file your taxes, there are a few easy-to-make mistakes you’ll need to dodge. If you don’t, these errors can lead to a tax audit. Or, you might be faced with an unnecessarily high tax bill. Here is what the experts had to say, as well as tips to avoid the most common tax mistakes.
FORGETTING TO REVIEW PAYROLL WITHHOLDING DEDUCTIONS
Getting a tax refund feels good. But if you are a salaried employee or hourly wage earner, it pays to understand why that money is coming back to you.