Experts Weigh In On Common Tax Mistakes - 47 ABC - Delmarva's Choice

Experts Weigh In On Common Tax Mistakes

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47 ABC - The smell of paper and the click of the keyboard fill the air this April.  In case you forgot, it's tax season!   

"We're very busy," says Salisbury accountant Amanda McWilliams.

With a little over a week before the April 15th deadline 47 ABC met with some local tax pros to find out some of the biggest mistakes people make when filing.

Aside from the basics, such as forgetting to sign and date the return, or just doing the math wrong, one common misstep is missing deductions, such as medical expenses.

"Ten percent over your AGI, your adjusted gross income, is deductible this year," says CPA Bob Lockwood.

Another mistake, says McWilliams, overestimating deductions, "especially with mileage, a lot of things, you can't actually deduct mileage for, but people still try to."

For anyone who owes money, but isn't quite ready to file, remember, you still have to pay that back on time.

If not "well, then you're going to get hit with a late payment penalty...and interest for the time that you took until you sent the money in," says Lockwood.

For a simple return, with just a W-2, tax pros say folks can probably do it themselves with help from tax software, but if you're thinking about doing things with just pen and paper, Lockwood says "well, all I can say is God help them with the instruction book."

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