Rushing to file your tax return before the deadline may mean making mistakes that could have been avoided. Even now, there is still plenty you can do to plan ahead and prepare before filing your taxes. Here are eight steps designed to help tax filers save money and avoid surprises when filing this year.
Step #1: Figure Out Your Filing Status
Losing a job is tough, especially when it's by no fault of your own. In the event that you find yourself unexpectedly without a stream of income, you may be eligible to receive unemployment benefits. The application process, criteria and benefit amount will vary state-by-state, but this benefit is designed to help out-of-work individuals cover basic expenses.
The Setting Every Community Up for Retirement Enhancement (SECURE) Act is now law. With it, comes some of the biggest changes to retirement savings law in recent years. While the new rules don’t appear to amount to a massive upheaval, the SECURE Act will require a change in strategy for many Americans. For others, it may reveal new opportunities.