So did you wait to file your taxes? April 15 comes and goes, you figure you will get to it later, September rolls around, and you figure, I have time....one more month. Then you look up and it is October 12. Oh no...you have to file your taxes by October 15. So what potential deductions are you going to miss because you were in a hurry?
1. Buy a car? The sales tax on high ticket items may be deductible (especially in Florida where there is no income taxes.
2. Refinance your home? Points may be deductible, and even your mortgage premium insurance (PMI) may be deductible.
3. Purchase a home? Did you get the costs off of your closing statement? Some of the costs on your closing statement is deductible, don't forget those.
4. Job ask you to travel? You may be able to take travel, mileage, uniforms, tools, or protective equipment if they are required by your job.
These are just a few of the deductions that can be missed. The bottom line is, don't procrastinate. If you cannot get your taxes done in April, shoot for getting them done in July.
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