Atlanta Bankruptcy Attorneys Say Early Tax Filing Means Early Refund
Why put off until tomorrow what you can do today - especially when it involves more money in your pockets?
Technically your tax return isn't due until April 15, but you can actually file as early as February so long as you've received all of your necessary documents - like 1099s, W-2s, receipts from charitable donations, etc., according to Atlanta bankruptcy attorneys. Why would you want to torture yourself early, you may ask? Because you have to do your taxes anyway - and the earlier you do them, the earlier you can get your refund (especially helpful for those of us in debt). With the government looking to stimulate the economy, you might be eligible for some new credits and deductions.
For instance, did you buy a new house recently? If you lived in your prior residence for five years or more, you could get $6,500 back in homebuyer credit. Maybe you were one of the many Americans unemployed in 2009. Did you know you don't have to pay taxes on your first $2,400 in unemployment benefits? Did you go to school at all last year? The American Opportunity Tax Credit covers the first $2,000 spent on tuition, fees, books and other materials during the first four years of college. Maybe you were one of the generous individuals who donated to Haiti - the government is rewarding that generosity by allowing you to deduct the amount on your 2009 return, even if you donated in 2010.
That's just a sampling of the opportunities available. To get your money's worth, this might be the year to consider hiring a professional tax preparer - or at least springing for some tax software. Often times, help will pay for itself by finding credits and deductions you didn't realize were available.
Tax season isn't the only time when going to the pros pays off. If you can't seem to shake your debt burden, it might be time to seek outside help - like bankruptcy. A bankruptcy plan has the potential to lower or eliminate some of your debts while making it easier to pay off your leftover obligations. It can also block your home from going into foreclosure.
Best of all, it's free to find out if bankruptcy is right for you. Just try out a complimentary one-on-one debt analysis with a professional Atlanta bankruptcy attorney. Procrastinating will get you nowhere - taking action can get you out of debt.