Taxes. Argh. That horrible time of year is upon us again and I find its best to just get it out of the way, don’t you? It’s not just an elephant in the room, it’s an elephant on your back!
A few years ago we decided to get our taxes done early. We thought it was a great idea. No worries when tax day was drawing closer. No overcrowded appointments to schedule around at the tax guy. And no extra stress before our wedding anniversary (the day after taxes are due).
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What could go wrong, right?
Yeah… You guessed it. Something went wrong. A big something. Something that could have been easily avoided if we had waited another couple months, even just one month.
We filed before we had received all our income reports and our Google Adsense (which we inconveniently forgot about at our tax appointment) income screwed up our tax rebate. Instead we owed over $1,000! (Yikes!)
Believe me when I say, that was a very big blow. Especially when we were expecting half that back. It set us back (a lot) at the time, but we learned from our mistake and hopefully you can avoid making the same one.
Today we wait to file our taxes until March (just finished, yay!). Our mistake was filing in late January. We didn’t know at the time that was way too early.
Now we wait until everything is accounted for, including the slow to arrive Google Adsense income report. We definitely wait for that to get here before the appointment. And of course we will never (fingers crossed) forget about that small income stream again.
What’s your most helpful tax time tip? Share your tips in the comments below.