10:11 05 April 2013
A lot of people wait for the last minute when filing their taxes. The danger in doing this is that you run the risk of committing serious tax mistakes and miscalculations.
However, there are some ways to ensure that your taxes are properly filed.
1.Use available technology.
More and more people are now using the Internet when filing their taxes simply because it is faster and much more efficient. This is also highly recommended for people who are expecting tax refunds as electronically filed taxes are processed much faster. The refunds are usually processed within two weeks.
2.Apply for extension.
If you really don’t have the time, go ahead and apply for extension where you’ll get an extra six months to prepare all the necessary documents.
However, keep in mind that having an extension doesn’t mean extending the tax payment deadline. This means that you should still pay the estimated tax owed by the due date. Failure to do so will result to payment penalties.
3.Use your credit card.
Don’t have the cash to pay for your taxes? Then pay with a credit card preferably with interest rate of 10per cent or less.
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