Taxes: 9 Non-Deductible Expenses You Need To Know
Tax Season is just upon us, and we want to make sure we are prepared for what's to come.
When are taxes due?
Monday, April 15, 2024
What if I need an extension to complete my taxes?
"You can file for an extension. Filing an extension gives you an additional six months to October 15, 2024, to submit a complete return." - Source
Do you know what you can and cannot deduct?
Below is a helpful guide of different expenses you cannot deduct from your taxes, but you will also find their "exceptions."
9 Non-Deductable Expenses for Tax Season
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For a more in-depth look, click here.
Where can I get my taxes done FOR me?
TurboTax, H&R Block, you may also check your local CPA's
What happens if you don't file your taxes at all?
"The Failure to File penalty is 5% of the unpaid taxes for each month or part of a month that a tax return is late. The penalty won't exceed 25% of your unpaid taxes." Source
Don't try to beat the system.
It will only come back to haunt you and may even end up costing you way more than you could have received or would have paid.
I owe the IRS, when do I have to pay them by?
"Pay by April 15, 2024, to avoid penalties and interest." - Source
I know, I totally get that "Tax Season" is super stressful, especially if you owe money. What's that out of date saying though?
Keep Calm and File Taxes
Ok, maybe I made that up, but still, take a deep breath and put one foot in front of the other. We got this!
Have You Ever Thought About Never Paying Taxes Again?
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How Much States Pay In Taxes
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