Last Minute Tax Filing Tips | Mark Kohler | NBC Channel 7 News San Diego


a lot of people are asking this question or at least talking about it having found her taxes yet such a fun question right it’s Something we all have to do but often dread doing Here with us this morning to make sense of this time of year we have Moe who is a tax expert CPA and a number of other Credentials to your resumes I was there apparently threaded So tell us let me ask you what are the questions you’re receiving? What are some of the big ones that people want to know these two well a lot of people want to know is this new? tax legislation gonna affect your tax return and the filing process the answer is no it’s business as usual just same way you’ve been filing a return or Tackle it just go along the same path that’s next year yeah next year, you’re gonna feel it hopefully you’ve seen a little something in maybe your Paycheck there. That was you know Congress’s hope but nothing changes on your tax return this year, so the deadline is approaching Do you is it time? Can you file an extension? What’s the process for that or people asking those types of questions? Yeah? And I think extensions are a great idea if you’re not totally prepared Get some software like tax layer run through it. Get kind of an estimate of estimate of what you think you owe and Send in a payment But file an extension you actually reduce your chances of an audit when you file an extension a lot of people don’t know that They think by filing an extension. It’s triggering something. Yeah a lot of people stress out. Oh, I gotta get my taxes done Hey, if you’re not ready That’s cool Buy some time do a little draft in the software find out what you might owe and send in some money You don’t want to end up owing lay there might be some penalties and interest But take your time a lot of people have a job and then they’re like an independent contractor They’re driving for lyft or uber doing some of these other apps or they can make money on the side How does that play into filing their taxes? Yes, this gig economy the freelance income I got this gig on the side, then it’s stressful. I guess you got a 1099 too, so you’re really excited about this I charge scooters in my condo Oh, I know well for any of you out there that are getting this freelance income don’t stress again There’s a schedule on your 1040 for it and again software. I’ll walk you through it if you’re doing your own return But think of this some of the expert you have to claim it But a lot of times you’re gonna have plenty of write offs to wipe it out, so There’s a process for it. You’re now a small business owner. Did you know that that’s what you have? graduation I’ve heard that there are some CPAs out there that have Programs that you can look at to sort of see how you will be affected Next year like if you were to apply the same income this year to next year’s tax criteria Is that something that’s out there and that people should be interested in fact? There’s a lot of different software models. I like New York Times. They have a great Site on their website that you can page on their website. You can go to and it’s fantastic you got a Guesstimate where you might be they’re saying 80% of Americans should see savings And so if you’re kind of wondering how it might affect you you can get in some of these sites and play it out Yeah, okay Speak to someone real quick though who hasn’t filed their taxes and is freaking out aside from the extension What else can you say to them don’t stress? I think there’s some good tips to think about contributing to a health savings account HSA maybe to an IRA There’s still things you can do to reduce your tax bill so get on run some models get engaged soon. Don’t procrastinate. Yeah good stuff Really appreciate you’re busy right now and you Morning. Well, you know it’s Sunday. We get one day off Throwing up some of the the deadlines there for you April 17th I know that that’s two days later than a lot of people, maybe thought it would be right yep There’s a holiday on Monday plus the 15th was on a weekend So you can take your time that weekend and get it off on Tuesday And I think direct deposits are pretty exciting. That’s a tax layer, too. You can get your money Immediately if you are do a refund so if you’re expecting a refund you might want to get on it, too All right mark. Thank you. Thank you. Thank you very much Okay, see talking about taxes wasn’t so bad was it let’s talk about the weather

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