Tax Tips

By: Alana Adams
By: Alana Adams

Before the month is over, you should have all the W-2 forms from your employers and you can start getting ready to file your taxes. Don't groan the time away, instead start now and stay organized before the fifteenth looms closer.

Linda Millsap a tax consultant with H&R Block on Panama City Beach says this is a good tax year, "There are some great things out there this year. The additional child tax credit, the saver's credit, the marriage penalty has been dissolved."

Millsap has worked at H&R Block as a tax consultant for the past 18 years and says organization is key to filing your taxes on time.

First, gather all your sources of income with the W-2's. Then itemize your deductions including your mortgage interest, property taxes and donations made before the end of 2003. Be sure and take the time to research all of the deductions available on the Internet or with a tax consultant.

"The child tax credit was previously $600 per child, now it's $1,000. The child has got to be under the age of 17, so that was a tremendous help."

And, before you seal the letter and stick on a stamp, check your paperwork to make sure even the smallest detail is correct.

About 330,000 tax filers make math errors on their returns, and make sure the social security number listed on the documents are all correct.

And you can always go to a tax consultant for advice and help filing your taxes on time, although, the longer you wait, the crazier it gets.


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