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9 Tax Mistakes You Might Be Making
Source:
forbes.com
- Feb 1, 2017
If you haven’t started receiving tax forms in the mail yet this year, they’re on their way. It’s time to gather your paperwork and get that tax ball rolling, so to speak. And it’s the time of year when many people take a trip to see their financial professional.
Every year, financial advisors see clients making a variety of mistakes that hurt their bottom lines. Here are some common oversights that pop up:
You’re funding tax-advantaged accounts too late. “Most people wait until the tax filing deadline to contribute to their IRAs,” says Nick Holeman, a financial advisor in New York, NY. “A better approach is to fund your IRA as early in the year as possible, preferably in January. This strategy has provided average additional returns of $14,507 on the table over any 10-year period of investing since 1928.”
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Category: General Business
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