Tax Tips for Work At Home Moms

BEFORE YOU SIGN THAT RETURN...

Life is full of changes, but if you neglect to share the twists in the path you are taking with your income tax preparer, it could mean an incorrect tax return.

It is important to share anything that is different in your life with your tax preparer since there are several factors that can influence the forms used to file your federal tax return.

Here are a few important twists you should share with your tax preparer.

If you switched jobs this year, be sure to mention it since you may be able to deduct job hunting expenses. There may also be a change in your insurance coverage which could lead to deducting some medical expenses.

A recent marriage, divorce, birth or death in the family all can have a bearing on your income taxes.

Returning to college can open up the door to some new tax credits for education.

Capital gains received from the sale of a stock early in 1999 can be easy to forget by April of 2000. Be sure to keep track of these transactions and bring associated documentation with you when you meet with your preparer.

Starting a new business creates another income tax milestone. So many new expenses, lots of questions, and a few extra forms to fill out.

Spending a few minutes talking with your tax preparer about how your year has unfolded, may save you some money at tax time. Finding a tax preparer you can trust and returning to them annually really can make a difference in your income tax liability.

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