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Retirement Blog

Tips and Tricks for Filing Your Taxes

Tax formWhen you’re getting ready to do your taxes, ask yourself this: do I want to do it myself or do I need the help of a tax professional? There are good reasons for doing it yourself, including spending less money upfront. But a tax professional will save you time and may be able to maximize your deductions, ending up being more cost effective in the long run. If you want to itemize your taxes or run a small business, it may be better to go with a professional.

Whether you decide to do your taxes yourself or go to a professional, you’ll need to get organized first. Make sure you have all your forms (W-2s and 1099s) and start making a list of any payments that might be deductible (such as moving costs) if you haven’t already.

When you get ready to file, consider any changes of filing status or added exemptions that may necessitate filing differently than you did last year. Make sure you’re not leaving anything behind. Double-check—or even triple-check—the numbers on your return, particularly if you’re doing it yourself, to make sure that you’ve gotten your maximum return and taken all the right steps.

Remember: the IRS imposes a penalty on taxpayers who file late, so file on time or, if you can’t, get an extension. The final postmark dates for all returns is April 15th. Also, be aware that, if you file online, a return is not considered “filed” until the IRS acknowledges acceptance of the electronic portion of the return.

If you’re getting a return, consider using direct deposit to get the return back as soon as possible; it can take as few as ten days, but on average twenty-one days to get it back. If you need to get your refund quickly, consider filing early also, as refund anticipation loans can be costly. Direct deposit and filing early both help you get your refund in a timely manner.

File tax returnFinally, once you’ve filed, get ahead and start planning for next year’s tax season. If you’re going to a tax professional, they should offer you tips for the upcoming year, based on any life events that you anticipate, such as a change of job, big move, or marriage. In addition, a good tax software package (if you’re filing on your own) can also help you plan for the next tax year. If you got a large return this year, see if tweaking the numbers on your W-4 can help you save money throughout the next year. If you owed a lot this year, you should also consider adjusting your payments throughout the year so that one big payment doesn’t take you and your budget by surprise. If you need to pay, but find that you can’t pay everything upfront, you can make arrangements to pay over a period of time.

Best of luck to you during tax season!


Request Information from These Tax-Friendly Communities

TAO Mexico

TAO Mexico

Akumal, Q.R., Mexico

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Cypress Falls by Del Webb

Cypress Falls by Del Webb

North Port, Florida

The famous Del Webb active adult lifestyle awaits at Cypress Falls. And with its convenient location, you won't have to go far to enjoy all the top Sarasota area attractions. Experience for yourself the low-maintenance resort-lifestyle complemented by a vibrant array of amenities including the community's social clubhouse with state-of-the-art fitness center, grand ballroom, activity and game rooms, library and more.
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Hampton Hall Club

Hampton Hall Club

Bluffton,

Imagine for a minute you're visiting the private club community of Hampton Hall in Bluffton, SC. You've gotten over the awe of the dramatic and picturesque Lowcountry landscape, and you're starting to take in your surroundings. For while everything here is beautiful to look at and expertly maintained and cared for, the key component is fun and enjoyment.
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K. Hovnanian's  Four Seasons at Orlando

K. Hovnanian's Four Seasons at Orlando

Kissimmee, Florida

Four Seasons at Orlando is a 55+ community in Kissimmee, Florida. This active adult community is situated within the 600-acre Mystic Dunes Resort & Golf Club, offering a championship golf course, recreation, and an array of amenities and activities. Planned amenities include a 12,000-square-foot clubhouse with swimming pool, fitness center, a card room, arts & crafts room, a cafe and more.
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Dataw Island

Dataw Island

Dataw Island, South Carolina

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Grande Dunes

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Myrtle Beach, South Carolina

This is Grande Dunes, a unique and elegant community of luxurious natural beauty featuring an ideal club lifestyle including golf, tennis, fitness, a private marina, superb dining and private beach access, with breathtaking homes designed for just such a place, all located within the heart of Myrtle Beach.
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Stonecroft Village

Stonecroft Village

Womelsdorf, Pennsylvania

The 55+ community of Stonecroft Village, set in the beautiful Tulpehocken Creek Valley of Berks County, PA, was designed with relaxation, natural beauty, and recreation in mind, to be enjoyed alongside neighbors 55 and over at a similar stage in life.
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Hilton Head Lakes — Retire to the Lowcountry

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Hardeeville, South Carolina

Whether you?re looking to relocate permanently for that well-deserved retirement or a weekend retreat, you can find your dreams fulfilled at Hilton Head Lakes.
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K. Hovnanian's   Four Seasons at Ventana Lakes

K. Hovnanian's Four Seasons at Ventana Lakes

Peoria, Arizona

K. Hovnanian's ® Four Seasons at Ventana Lakes in Peoria, AZ, an active adult new home community for those 55+, will offer single-family new homes in an excellent Peoria location. There are multiple community centers including space for cards and games, a library, billiards, ping pong, quilting, crafts and a stage for programs, productions and concerts. The community features 4 pools and well as gorgeous lakes that are available for catch and release fishing. Several sports courts are available to residents including bocce, racquetball, shuffleboard, tennis, basketball, horseshoes, pickle ball and volleyball.
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K. Hovnanians Four Seasons at Scottsdale Heights

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Scottsdale, Arizona

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Del Webb Bexley

Del Webb Bexley

Land O Lakes, Florida

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Briarwood - Active 55+ Resort

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Port Orange, Florida

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The Isles of Collier Preserve - Florida Gated Communities

The Isles of Collier Preserve - Florida Gated Communities

Naples, Florida

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Salters Haven

Salters Haven

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Nestled along the sparkling Intracoastal, in the growing coastal town of Hampstead, NC, Salters Haven will be the place for those who seek an active lifestyle on the water. Enjoy a celebration of family, community, recreation on the water and elegant coastal homes here at Salters Haven.
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Balsam Mountain Preserve

Balsam Mountain Preserve

Sylva, North Carolina

Balsam Mountain Preserve is a conservation-orientated private residential community set on 4,400 acres in the North Carolina Blue Ridge Mountains near Asheville. Refined amenities of the community include an Arnold Palmer Signature Golf Course, Palmer Practice Park, Equestrian Center, Ruby Valley Fitness & Wellness Pavilion, junior Olympic heated pool, Nature Center, tennis courts, guided hiking, fishing and camping opportunities, the Boarding House and Outpost for gathering and food & beverage offerings.
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