We are only a few weeks away from the tax filing deadline! You may feel anxious, overwhelmed, or even excited, but no matter what USALLAINCE is ensuring you are set up for success this tax season. This month we are sharing tax tips, ways not to get caught in a tax return scam, and the benefits of having a checking account.

Tax Tips!

The anxiety of tax season is most likely getting higher each day we get closer to April 18th but no need to worry! Here are 5 tips to ensure you get the most from your tax return:

1. Confirm how your parents are claiming you. If you’re under 24 years old, ask them if they’re claiming you as a dependent on their tax returns before you file yours.
2. Review your withholdings. When you get a big refund check, it means you’ve been lending the government money interest-free for the year. Work with your employer to adjust the amount withheld from each paycheck to reflect the taxes you’ll need to pay at the end of the year more accurately.
3. See if any “self-employed” rules apply to you. Unlike your regular paycheck, taxes aren’t withheld automatically when you’re self-employed, which requires extra planning and record keeping on your part.
4. Be sure to record new life events or milestones that have tax implications. Whether you got married, had a child, or moved for a job, there can be significant tax implications. Make sure you include new dependents, name changes, or any other major changes when filing.
5. Remember state taxes. Once you're done with your federal taxes, remember you'll probably need to file state income taxes unless you live in one of the seven states that don't have them.
   
   

Don't Get Caught in a Tax Return Scam

Tax season is far from most people’s favorite season… especially when scammers are trying to take your money. Keep yourself safe by reading our blog “Don't Get Caught in a Tax Return Scam," which details how the scams play out and how you can protect yourself.

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Benefits of having a Checking Account

Checking accounts usually are the most basic accounts you can get, and because of that we often forget how many benefits they come with. Check out our blog "The Benefits of Having a Checking Account" to see what your checking account offers.

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