11 costly tax mistakes – are you making them?

When it comes to taxes, there is a surprising amount of people are ignorant about their taxes. Educating yourself on taxes can help you save money and avoid trouble with the Internal Revenue Service (IRS).

Here are 11 tax mistakes that you may be making that can unfortunately cost you thousands of dollars.

  1. Simple mistakes like doing the math wrong or putting in your social security number wrong
  2. Using the wrong filing status
  3. Taking the standard deduction instead of itemizing
  4. Forgetting about your ‘side gig’
  5. Missing out on potential deductions
  6. Not taking your IRA contributions into account
  7. Reporting charitable donations you can’t prove
  8. Not reviewing your tax return before filing
  9. Waiting until the last minute to file
  10. Not paying on time if you file for an extension
  11. Not seeking help

To find out more about each of these blunders, read the full article on insider.com.

Credit to Business Insider
You’re probably making these 11 tax mistakes — and it could be costing you thousands
By Katie Warren, INSIDER Mar. 6, 2018