Contribution By: Rachel Cottam
Tax season can be stressful, but it’s worth it when Uncle Sam gives you a big refund. Unfortunately, many U.S. taxpayers leave too much money on the return table—and you might be one of them.
Understanding the best ways to prepare taxes and knowing which tax write-offs you’re missing will help you avoid this costly mistake.
Just remember: if you are going to claim any deduction, you need to have records. Don’t try to claim write-offs you have no proof of. Keep pristine accounting books and physical or digital documentation of all relevant receipts. Even if you’re handing your taxes off to a professional, they’ll need a paper trail.