Do you find yourself constantly in need of tax help when preparing your income tax returns? Well, if you do, you are not alone. Despite the IRS claims of a simplified tax system, preparing and filing your tax returns does make going to the dentist a wonderful experience for many people.

We know tax reporting is not as easy as the IRS makes it out to be. After all, you have to earn your living competing for fewer and fewer positions, then you have to show the tax man how you spent your hard-earned money.

This means you have to keep good tax records so if you are audited, the IRS agent wouldn’t have to create mystery about a few thousand dollars spent with no receipts to show how you spent it.
Also, with clean clear records you have peace of mind knowing that you have done your best and can see where you can save wads of cash when you file your return.

Getting a good tax preparer on your side during the tax season and throughout the year is also a good idea. You want someone who can answer your questions about what forms to use and what deductions to claim. Plus, a competent tax preparer can help you with your tax planning for later years.

However, having a good tax preparer doesn’t do you any good unless you know what to ask, or know how to respond if asked for certain information, documents, tax receipts, and so on. When you know what someone is talking about you can give a clear and honest answer to their questions.

It is also important to know if your tax preparer is misleading you because he or she is inept, or just plain crooked. You need to know your limits about certain deductions, tax rules and other important tax information the IRS puts out during the tax season.

Remember you are eventually responsible to the IRS for the income tax return you file. It doesn’t matter if your tax accountant mislead you, the IRS will go after your bank account to satisfy its claim if you file false tax returns.

This is all the more important when you consider the tax season is very short and everyone, including your tax preparer will be rushing to complete several returns before the April deadline. Mistakes can happen during this crunch time, so you need to be alert as you prepare to file your returns for you, your family or friends.

If you are doing your own returns, then you need to understand certain basic rules about tax preparations, tax deductions, tax planning, and more. You also need to know if you are over your head when trying to complete your own return. There are certain rules favorable to self-employed individuals, other rules favor investors, some make having a  home mortgage important, and others that benefit retirees, parents, and so on.

Here at the Tax Help Vault we will cover all of these topics and more as you gear up for completing your income tax returns for the past year. We will give you timely tips about filling out your tax forms and how you can use certain deductions to lower  tax liability.

Bookmark this site and remember to return as often as you need help during the tax season and for the rest of the year.

Helping You Lower Your Tax Payments...