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07/13/09Provided by Citysearch
Jackson Hewitt Provides Tips for Reviewing Your Tax Situation Mid-Year To Help You Make The Most of Filing Your 2009 Tax Return
PARSIPPANY, N.J., June 23 /PRNewswire/ -- Jackson Hewitt Tax Service(R) notes that the month of July marks a great time for taxpayers to spend a few minutes reviewing their current financial status to get a better sense of their overall tax situation. Knowing how to make mid-year adjustments and take advantage of applicable tax benefits prior to the end of the year can prove beneficial for taxpayers and can help place them in a more favorable tax situation as 2009 draws to a close.
""There are always things that taxpayers can do throughout the year to help manage their tax situation,"" comments Mark Steber, Vice President of Tax Resources, Jackson Hewitt Tax Service Inc. ""There are many things taxpayers can do now to ensure they receive the largest refund they may be due or reduce the tax liability they may owe.""
The following are some useful reminders of what can be done now:
-- Review your financial profile: Take a look at your past six months of
financial activity and earnings. If you expect your finances to
remain about the same for the remainder of the year, this will be a
good indication of what your annual financial picture will look like.
Is it similar to last year? Will you have more or less income,
credits and deductions? ""By estimating your year-end tax situation
mid-year, you can make adjustments in your lifestyle and to your W-4,
if necessary, which means fewer surprises come tax filing time,"" notes