Tax Tips 1 - Always get someone else to check your work, even if you're using a program such as TurboTax to prepare your taxes. Even though some of these programs have guarantees, its always better to get a second pair of eyes on your tax forms before they are submitted to check for any omissions or errors.

Tax Tips 2 - Don’t wait until the last minute to file your taxes. If you want to be able to use your money for a big purchase, the sooner you file, the sooner you will get your return.

Tax Tips 3 - Make sure you have all of the necessary paperwork when you meet with the person helping you do your taxes. It will only make things more difficult in the end if you forget to bring something with you.

Tax Tips 4 - Don’t try to cheat. It really is not worth the time and energy to keep that lie in the end. No matter who you are, or how well you think you have your tracks covered, you will ultimately get caught.

Tax Tips 5 - As your important tax forms (ie: W-2s, investment statements, etc) start showing up in the mail pick a spot to put them all so that none of them get misplaced. In addition – find your forms from the previous year and place them in the same place. This way when you go to file your taxes you will know exactly where they are all located.

Gifts for Accountants

Tax Tips 6 - Missing your W2? Your employer is obligated to have your W2 to you by the first week of February. If you do not have it by then, you will need to contact your employer. If you still do not have it by the middle of February, you must contact the IRS and provide them with your employer's information so they can assist you. If you've done these two things and still do not have a W2 by the end of February, you should use Form 4852 (a substitute for the W2) and estimate your information. The best method to estimate is to find the last paycheck you received from your employer for that year and use the tax withholding and income year-to-date figures listed on the stub. There may be a delay for any refund using this method as the IRS has to verify your information.

Tax Tips 7 - If you have children, you may be able to save up to $1000 on your taxes for every child under 17 that qualifies. In order to qualify for the tax break, the child must have: been under 17 at the end of 2008; in a viable relationship with you such as offspring, adopted child, foster child, etc; a citizen of the US; and lived in your home for more than half of 2008. Also, the child must not have provided over half of his or her own support during 2008.

Tax Tips 8 - The best option to get your refund is Direct Deposit. One, it's free. Two, it is generally issued long before paper checks. Three, its more secure as there is no check that could get lost or delayed in the mail. The IRS will put the money directly into your bank account and there is a calendar of the dates they make the deposits.

Tax Tips 9 - Most people are unaware that internet sells are still subject to being taxed. This includes business from established companies to the occasional eBay seller. You must pay taxes anytime that you make a profit. Whether you are selling products, offering services, or making money from Google Ads or Blog advertising, you are expected to pay taxes on that income. Even if you are just selling your old treadmill on Craigslist, you still have to pay taxes. Starting in 2011, companies such as eBay will have to report any users who sell more than $20,000 or process 200 transactions.

Tax Tips 10 - Bartering goods or services is taxable by law. Bartering means the trading of goods or service from one person to another for an exchange of goods or services. Examples of this can be fixing someone's computer so he or she would fix your plumbing or a doctor's office trading medical services for air conditioner repair. It is usually an informal one-on-one transaction between people and/or businesses. Even though no money changed hands, the fair market value of the goods or services traded have to be reported as income. These "trade dollars" are considered the same as real dollars for tax purposes and must be reported by both people and/or companies involved.

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