If 31st of July, the deadline to file your taxes gives you fever then you are not alone. To many, the approaching deadline of tax season makes their blood run cold. However, it doesn’t have to be that way. There are several reasons which can change your heart so that you start loving tax season. Here is the list of some good reasons which will change your mind:
If you are eligible for tax refund then tax season is time for you to celebrate just like you do when you get your much awaited bonus. In fact it is better than bonus as you are not required to pay any tax on it.
Many people find their finances in a mess before tax season. So, tax season is an opportunity for them to organize all financial information and file accurate return. Filing correct return gives you peace of mind and helps you focus on the financial planning ahead of time.
Tax season is time to explore your financial performance. If you earned more income than expected, you will be delighted to see those numbers. In case you earned less, you can reflect on the reasons and work on a plan to do better in the future.
It feels good to have control over your tax situation. You can take advantage of tax season to make some favourable changes in your financial life. If you paid a lot in taxes this year, then its time to look for some investment avenues which can help you save some bucks.
Doing what’s right can give you immense satisfaction. By paying your taxes and filing return on time is part of your responsibility as a citizen so you should take pride in doing so. Without tax money government can’t provide you basic services.
Tax rules are changed every year by the government. Some rules can directly put money in your pocket. For example, cap on tax rebate was increased by government this year from Rs. 2,000 to Rs. 5,000 for people with income less than or equal to Rs. 5 lakh.
If you find filing your taxes boring or difficult, then you can hire any third party income tax filing service provider to do the job for you. E-filing is the trend this tax season. You can e-file your taxes on your own or hire experts to file your taxes online for you. H&R Block offers you an array of Income Tax Return Services including e-filing of tax return.
E-filing is popular, but you can go a step further by m-filing your taxes. Some of the tax filing service providers even offer revolutionary apps which help you file your taxes through your mobile phone. For example, H&R Block has recently launched first of its kind Income Tax Filing App which utilizes latest technology to assist you in filing your taxes.
Tax season is the best time for you to get educated about tax rules. A buzz about taxes is created in the tax season when social media, news channels, your colleagues, friends and everyone around you starts talking about taxes. You can take advantage by learning a thing or two about taxes without putting much effort.