News and Events
January 8, 2008
Keeping the Tax Man at Bay
Hello,
Welcome to Insurance Networking Systems,
we are the in-house insurance agency for Next Generation Realty. We are an independent insurance agency, which
represents over (9) different companies for auto and home insurance. “Your Protection & Peace Of Mind Is Our
Only Business”…this is not just our motto, but it’s the way we do business with
our clients…we’re not like your typical insurance agency….we’re not going to
tell you what you want to hear, but rather what you NEED to hear.
Call
us today at 243-1223 or email me at joe@insnetw.com
to get your FREE no obligation quote and start SAVING up to $223, $393, $571 or
more a year.
Each and every month we’ll bring you news and tips to make your life easier, safer and happier. So enjoy!
Keeping
The Tax Man At Bay:
Here's another important tip from your
friends at Insurance Networking Systems.
I hope you find it informative and useful. Please pass it on to those you love!
I thought I'd send you some tax tips now in
case you're the kind of person who gets them done early. Here are some of the
most common errors on tax returns. If you avoid errors, you minimize the chance
of an audit ... and NOBODY wants to go through that!
* Mistakes on social security numbers tops
the list of tax return errors. Make sure all the SSNs on the return are
correct. And it's a good idea to put your SSN on each page of the return in
case the pages get separated at the IRS.
* Math errors are another common mistake -
especially when subtracting. If you're not using a computer or tax-preparer
carefully check the math. Do like Santa Claus and check it twice!
* Forgetting to sign and date the return.
Yeah. Happens all the time. And remember for a married couple filing a joint
return, both must sign.
* Failing to attach all the paperwork - like
W-2s.
* Putting income in the wrong place. This is
interesting. If you record dividend income as interest income - like for mutual
funds - the IRS computers will probably see that as under-reporting dividend
income, because they get that information from the mutual fund companies. Then
the hassles begin.
* Failing to file because you can't pay in
full. BIG MISTAKE! File your return on time, even if you can't pay the tax due.
Willful failure to file is a federal crime. You'll only pay interest on amounts
past due.
* Failing to file when no tax is due. I
guess it happens. You gotta file the return whether you owe any money or not.
There's lots of information on the Internet
to help you avoid problems. Just do a search on "common tax errors".
All of us here at Insurance Networking
Systems wish you a joyous tax season! OK ... how about a reasonably fun tax
season? OK ... good luck, we hope you get through it. How's that?
Seriously, though, I hope this information
was helpful to you. Thanks for your business.
Sincerely,
Owner/Licensed
Agent/Consumer Advocate
