How to Reduce Taxes Owed: The Complete Guide
Wouldn’t it be nice if you got a phone call from the Internal Revenue Service (IRS) stating that you don’t owe as much as you thought? Or how about when your tax preparer is doing your taxes and he or she tells you that you actually have a refund coming?
This is the type of ‘stuff’ you want to hear when it comes to your financial situation—taxes in particular. So we’re going to talk about two ways you can reduce the amount of taxes you owe to the IRS:
- Before Submitting Your Taxes
- After Submitting Your Taxes
By simply knowing what all of your tax breaks and credits are can make all the difference between owing money to the IRS and getting a refund. Even if you owe, taking advantage of all of your tax credits at the very least will reduce the amount. While many taxpayers are quite familiar with the more popular deductions like child credit and the home office deduction, there are several other breaks you might be eligible for. Oftentimes, depending on the tax service you seek out, they won’t even know what all of these tax breaks are!
As you may already know, many storefront tax services will hire seasonal workers to help them through the beginning of the year to help taxpayers make the April deadline. As a result, they’ll only be taught the bare essentials on how to prepare your taxes.
When you’re looking for a good tax preparer to help you reduce the amount of taxes owed, the best way to get the maximum results is to hire a professional tax preparer who has years of experience and knows the tax laws well enough to get you the best possible results for your annual filing.
When the damage has already been done, and you’ve submitted your tax filing, you might think it’s too late to do anything about your tax situation. That’s not the case. There are a couple of ways an after-tax filing can still be helped. You can either:
- Call the IRS and try to negotiate a resolution.
- Hire a tax relief professional to negotiate a resolution and possibly reduce the amount you owe.
If you select option “A”, then you will find it challenging to reduce the amount of taxes you owe. This is simply because if you don’t know the tax laws, negotiating with the IRS is going to be frustrating, and chances are you’re not going to produce the results you’d like. When you hire an experience tax relief caseworker, you have the law on your side!
Success Tax Relief: Option B
Success Tax Relief, a tax relief firm specializes in communicating with the IRS on our client’s behalf. We have successfully resolved hundreds of tax cases where the taxpayer’s debt amount was reduced significantly, or at the very minimum, split into a monthly payment amount that is affordable and won’t put a dent in your wallet.
Call the professionals at Success Tax Relief today to learn about what other ways to reduce the amount of taxes you owe at 1-877-825-1179, or contact us online.