The Traverse City tax preparation examiner reveals that taxpayers can save money by filing their 2017 taxes early, in a new article on Maxmoneyzone.com.
August 4, 2016 – Frank Ellis, a tax preparation expert out of Traverse City, reveals in a new Maxomoneyzone.com article that people can save money by filing their 2017 taxes early. The piece is geared toward experience and novice tax filers. Pointing out that its best not to wait until the last minute, the author uses getting a refund quickly as an example of why waiting is not the best option.
The author also notes e-Filing and direct deposit as time- and risk-savers. This also speeds up the process and takes away the risk of a post office losing a return. Avoiding the post office maximizes the benefits of filing early, but taxpayers also have more flexibility in choosing a traditional check or prepaid card.
When filing taxes early, one could use TurboTax more efficiently, and take advantage of the free Absolute Zero program. The program uses a question and answer format, and applies to anyone with less than $100,000 in taxable income. According to the author, one can use forms 1040EZ or 1040A in this case.
Ellis also reveals new tax forms that are available this year. He mentions several healthcare forms introduced as part of the Affordable Care Act. One can designate whether they are insured through their employer, insurance carrier, or Medicaid/Medicare. Depending on the form, according to the author, the taxpayer may or may not have to report health insurance payments.
If one files early, they also know sooner whether or not they owe the IRS money. This gives more time to pay, and prepare in the case they have to save up to meet their tax obligations. Ellis ends on a note stating how quickly tax time rolls around. Taxpayers can read up more about filing early by visiting http://maxmoneyzone.org/save-time-save-money-file-your-taxes-early/.
About Frank Ellis
Frank Ellis is a Traverse City Tax Preparation Planner and published author. He has written tax and finance related articles for eight years and has published over 900 articles on leading financial websites.
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