Here Are 10 Mistakes You Are Making With Your Taxes in 2024

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[{"selector":"#anim-cd2a4fcd-1a31-465b-8c6d-f971c35d70ec","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5734ae52-03c2-459a-b8ea-cd9ef4c1f185","keyframes":{"transform":["translate3d(-99.74093%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-72b9db78-a4f2-459b-9e99-03b066036030","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-aca56c94-7e99-4fe7-8c3c-6919654ab31e","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-cb1716e9-7430-4818-a7cd-471a77b1f395","keyframes":{"opacity":[0,1]},"delay":500,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3c0d274d-5ae7-454a-b63c-06df842730c4","keyframes":{"transform":["translate3d(0px, 272.95170%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Overlooking Tax Deductions and Credits: Many taxpayers miss out on valuable deductions and credits such as educational expenses

[{"selector":"#anim-8afb47b7-13d8-4474-8976-351d572bc46d","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ab7bbf52-6335-4823-9e16-4df46ae0a135","keyframes":{"transform":["translate3d(-99.74093%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e4ad5edc-d542-46e0-b077-143402f7514b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-feb33728-2814-4a22-920b-7db135b649d0","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-36d53dbf-62d6-40a6-9341-b7d15928cbd4","keyframes":{"opacity":[0,1]},"delay":500,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-12dc0c61-f641-47fe-bda3-c38d31710f73","keyframes":{"transform":["translate3d(0px, 272.95170%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Filing Status Errors: Choosing the wrong filing status can significantly affect your tax liability and potential refunds.

[{"selector":"#anim-03068784-1115-4084-8df4-23189d0d5ac2","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2ff46723-7cbe-4e16-9bb6-ad40c7f52e73","keyframes":{"transform":["translate3d(-99.74093%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b9d43985-d6d8-4e0f-abfd-9709b45f3f8e","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-29359ac3-7ba1-40d5-9732-912bf79a2992","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-273020ee-8f63-4f81-81d8-afb927aaf702","keyframes":{"opacity":[0,1]},"delay":500,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c2e1817b-ea88-4eeb-b921-599e637c9e0f","keyframes":{"transform":["translate3d(0px, 216.17775%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Not Saving Receipts and Records: Keeping detailed records and receipts for deductions and credits claimed is essential if the IRS requests documentation.

[{"selector":"#anim-b08b5789-36ca-4aeb-a0a9-33875073668e","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0f70b766-8b3a-458b-8b85-0293403a9cec","keyframes":{"transform":["translate3d(-99.74093%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fd457037-39b9-4722-aadb-f5723f6611d8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bee3d4fa-d224-4d58-a05b-de9e02120272","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-93454120-f529-4e8b-a13f-00528dd71279","keyframes":{"opacity":[0,1]},"delay":500,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c35c440c-4927-4eab-bbf7-7296a9df257a","keyframes":{"transform":["translate3d(0px, 215.37777%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Ignoring Retirement Contributions: Not maximizing contributions to retirement accounts like 401(k)s and IRAs is a common oversight.

[{"selector":"#anim-5d540009-2944-42af-8e7f-839f183565d5","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-42de3ca9-fb70-42d6-9d73-0f5d4943e7f2","keyframes":{"transform":["translate3d(-99.74093%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9897b7c4-cc3d-4041-9de2-457f894ee72c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cd9eaa9b-3e5d-44d8-ba8d-ae508f8048fa","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-1db2f5fe-f800-4123-ade5-d2f5ed88d8ef","keyframes":{"opacity":[0,1]},"delay":500,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a7da7252-f3f8-477c-a191-6c1552ff570b","keyframes":{"transform":["translate3d(0px, 232.17777%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Miscalculating Home Office Deductions: For those who are self-employed and working from home, accurately calculating and claiming the home office deduction is crucial.

[{"selector":"#anim-de843018-ef9b-49dc-a698-14c2aab801be","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-19fd5892-786d-456f-8743-3f8780153118","keyframes":{"transform":["translate3d(-99.74093%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b7f90da3-0cd4-4c81-8e83-13386ed062de","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ecf1a80b-2080-4939-8d22-a16a9ea6f6c3","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-308325c2-c687-4b83-951d-e62e4b593379","keyframes":{"opacity":[0,1]},"delay":500,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dd80d8e9-ea29-4333-b5f4-cc3ea597595c","keyframes":{"transform":["translate3d(0px, 178.14818%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Failing to Account for Cryptocurrency Transactions: With the IRS focusing more on cryptocurrency, failing to report transactions can lead to penalties and audits.

[{"selector":"#anim-ae8057d5-2582-4ffa-b7e1-e50327a0da04","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b73e0d0d-c65e-44a4-8577-bf35f675b55b","keyframes":{"transform":["translate3d(-99.74093%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d2bae6ac-cd00-4851-aa9a-364f8688aac2","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e2921bb4-2a3c-4741-9311-9fdb46d938e2","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-f751768a-c7c4-4888-81e8-ea7a88af872a","keyframes":{"opacity":[0,1]},"delay":500,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ebdcd7f9-9729-4b91-8089-e5502dafc8de","keyframes":{"transform":["translate3d(0px, 272.95170%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] DIY Tax Filing When Professional Help is Needed: While DIY tax software can be effective for simple tax situations

[{"selector":"#anim-dee42f13-82ac-4720-918d-a132d01180c0","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ddf3a51a-ebe4-4cfe-ba4a-60203822732f","keyframes":{"transform":["translate3d(-99.74093%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-59dbea6b-7b1d-484f-ba8a-f27689a2dead","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-53e5feb3-2527-41ce-b273-5227a0ff995f","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-7d242fe7-41ac-40b7-8c01-dd8a893a00f6","keyframes":{"opacity":[0,1]},"delay":500,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6fb91782-5bc7-42e3-9ce0-eebc2d88cceb","keyframes":{"transform":["translate3d(0px, 272.95170%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Missing Deadlines: Failing to file taxes or request an extension by the deadline can result in penalties and interest.

[{"selector":"#anim-964483c4-c288-421b-8c9d-d2475f1217ee","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e8c7a08c-6d95-451e-953f-912f8fa92d4b","keyframes":{"transform":["translate3d(-99.74093%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8ea075d6-fb34-4ebd-bb45-2c62dc103110","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-185a9723-4d83-457d-bbb0-edc520319728","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-ce0f4d26-a989-4efa-bec8-ec7affac447a","keyframes":{"opacity":[0,1]},"delay":500,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5904c3d8-f435-4827-bdb1-670187a0dfb9","keyframes":{"transform":["translate3d(0px, 180.14819%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Not Updating Personal Information: Failing to update your personal information, such as your address or marital status, can lead to missed notices from the IRS and delayed refunds.

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Here Are 10 Mistakes You Are Making With Your Taxes in 2024

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