3 Costly Tax Mistakes to Avoid
Taxes are unavoidable. When you earn money, the IRS wants a piece of it, and the more you earn, the higher a percentage of your income the agency takes. But if you manage to avoid the following mistakes, you may succeed in keeping a bit more of your earnings for yourself -- and avoiding problems that cost you money and cause you stress.
Tax credits serve the very important purpose of lowering your tax liability on a dollar-for-dollar basis. There are a number of lucrative tax credits you may be eligible for, and if you don't claim them, the IRS won't hunt you down begging to take that money. That's why it pays to put yourself in a position where you won't miss out on credits you're entitled to -- namely, by filing your taxes electronically (today's software will prompt you to claim credits that may apply to you) or hiring a tax professional to complete your return for you.
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Source Fool.com
