Filing your taxes: What to know for 2014 - WSFA.com Montgomery Alabama news.

Filing your taxes: What to know for 2014

More than 250 people called into the WSFA 12 News Defenders Tax Action Line Tuesday afternoon. More than 250 people called into the WSFA 12 News Defenders Tax Action Line Tuesday afternoon.
MONTGOMERY, AL (WSFA) -

It's one of the most dreaded days on the calendar for many people every year -- the deadline to file your tax return.

Those who like to get a head start and anticipate a refund had to wait until Jan. 31 to file. It was all because of last year's government shut down.

For anyone filing there is one common mistake made year after year.

"People don't organize their information well enough. You sit down and you think I'm just going to get all of this done, but if you go ahead and organize this information throughout the year, it will keep you from missing an income item, or more importantly missing a deduction," said David Chandler with Aldridge, Borden and Company.

For many people, the best way to make sure not to miss anything on a return is to leave it to a professional. But how do you go about picking someone to do it?

"There are a couple ways to do that. The Alabama society of CPA's has a referral service on their website, and it will refer you to a cps after you give them a little criteria. If something happens on your return, or there's an issue or dispute down the road, we're the only people who can help you before the IRS," David Chandler said.

If you plan to itemize your taxes, make sure you remember all available deductions.

"You can deduct your mortgage interest, which is a big one people have. Real estate taxes on your house. Also people miss that we can deduct the taxes we pay when we re-do our car tags. If you live outside Montgomery where they charge some local taxes you can deduct those. And charitable contributions. And some miscellaneous un-reimbursed business expenses."

What if you use a home office for business? Instead of figuring out the percentage of your cable and power bills that you can deduct Chandler says "Now you can do a $5 flat times the square footage of your office. It's new for this year. I'm not sure how much it's gonna change your tax liability, but it may really decrease that amount of time it takes to gather that information."

Something else to consider: If can e-file your return, do it. Refunds get sent out in less than 21 days. People who paper file could wait six to eight weeks before seeing their refund.
Take advantage of the resources on IRS.gov and the IRS videos you can find on YouTube.

Copyright 2014 WSFA 12 News.  All rights reserved.

  • NewsMore>>

  • Thousands sing 'Happy Birthday' to Queen Elizabeth II

    Thousands sing 'Happy Birthday' to Queen Elizabeth II

    Saturday, April 21 2018 6:54 AM EDT2018-04-21 10:54:10 GMT
    Sunday, April 22 2018 12:47 AM EDT2018-04-22 04:47:00 GMT
    (Toby Melville/Pool Photo via AP). Britain's Queen Elizabeth raises her glass during speeches at The Queen's Dinner, during the Commonwealth Heads of Government Meeting at Buckingham Palace in London, Thursday, April 19, 2018.(Toby Melville/Pool Photo via AP). Britain's Queen Elizabeth raises her glass during speeches at The Queen's Dinner, during the Commonwealth Heads of Government Meeting at Buckingham Palace in London, Thursday, April 19, 2018.

    Queen Elizabeth II is marking her 92nd birthday with a star-studded concert in London.

    More >>

    Queen Elizabeth II is marking her 92nd birthday with a star-studded concert in London.

    More >>
  • World's oldest person dies in Japan at age of 117

    World's oldest person dies in Japan at age of 117

    Saturday, April 21 2018 8:34 PM EDT2018-04-22 00:34:25 GMT
    Sunday, April 22 2018 12:46 AM EDT2018-04-22 04:46:08 GMT
    Mitzi Shore, owner of the legendary Comedy Store in Los Angeles, has died at the age of 87. (Source: Raycom Media)Mitzi Shore, owner of the legendary Comedy Store in Los Angeles, has died at the age of 87. (Source: Raycom Media)

    The world's oldest person has died in southern Japan at the age of 117.

    More >>

    The world's oldest person has died in southern Japan at the age of 117.

    More >>
  • Israel's Lieberman blames Hamas over Gaza deaths

    Israel's Lieberman blames Hamas over Gaza deaths

    Saturday, April 21 2018 1:44 AM EDT2018-04-21 05:44:10 GMT
    Sunday, April 22 2018 12:46 AM EDT2018-04-22 04:46:05 GMT
    (AP Photo/Adel Hana). Palestinian protesters evacuate a wounded youth during clashes with Israeli troops along Gaza's border with Israel, east of Khan Younis, Gaza Strip, Friday, April 20, 2018. Thousands of Palestinians joined the fourth weekly protes...(AP Photo/Adel Hana). Palestinian protesters evacuate a wounded youth during clashes with Israeli troops along Gaza's border with Israel, east of Khan Younis, Gaza Strip, Friday, April 20, 2018. Thousands of Palestinians joined the fourth weekly protes...

    Gaza health officials say 4 Palestinians, including 15-year-old boy, killed by Israeli army fire as thousands join fourth weekly protests on Gaza border.

    More >>

    Gaza health officials say 4 Palestinians, including 15-year-old boy, killed by Israeli army fire as thousands join fourth weekly protests on Gaza border.

    More >>
Powered by Frankly