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The deadline for millions of people to file taxes is almost upon us! Unfortunately, many people will make serious mistakes when filing their taxes that will cause them to miss out on tax savings and potentially even face fines and penalties. Paying fines and penalties on top of taxes is less than ideal.
In this video, tax expert Karlton Dennis explains 5 key tax moves that people should make before filing their taxes in 2025. Making these moves can potentially help people to make sure that their returns are filed correctly and that their tax savings are optimized. Applying any one of these tips can be beneficial.
Time is running out to make these tax moves in 2025. So, anyone who watches this video and wants to apply the tips should do so quickly. As always, it is a good idea to speak with a tax professional to receive guidance and support before making any tax moves that could have large consequences.
CHAPTERS:
0:00 Intro
0:43 #1: Choose the Best Filing Status
1:49 #2: Carefully Consider Whether to Itemize or Take the Standard Deduction
2:59 #3: Compare Your Home Office Deductions
4:59 #4: Prepare Your Tax Forms Electronically
5:55 #5: Max Out Your IRA
6:41 Subscriber Question!
7:40 Outro
*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
#taxpreparation #taxes2025 #taxfilingtips
