Stretch Your Dollar: What you need to know so you don’t end up owing more taxes

Stretch Your Dollar

As we begin the first full week of October, it’s important to note – your taxes are due soon if you filed an extension. We are stretching your dollar with what you need to know so you don’t end up owing more.

USA Today has the tips. As the Oct. 15 deadline approaches, remember if you underpaid your taxes in 2019. The more interest and penalties you’ll accrue, you’ll also be penalized more if you’re late on this return, so now’s the time to get moving.

And remember all the important forms. Your W-2s summarize wages and taxes & 1099 forms for freelance work, interest income & dividend income.

Itemizing may help you save money. You’ll need your mortgage interest statement, any charitable donations, a list of business expenses if applicable and medical expenses.

Choosing the right software can also save you money as it may help you avoid costly errors. Remember, if you brought in $69,000 or less in 2019, you can also file for free through the IRS.

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