(NNPA)—Tax season has officially begun and it’s time to find those deductibles and items that might help offset some of what you might have to pay the government by April 15.
For African Americans, filing income taxes has never been simple—nor has it historically been anything to look forward to.
“One thing that’s certain at the top of each year is tax season. Yes, that one thing that most of us dread yet we know we have a short window of time to complete what should be done as the new year begins,” said Cozette M. White, an acclaimed author, financial analyst and tax strategist. White is also founder and CEO of My Financial Home Enterprises, a financial management firm that helps organizations and entrepreneurs develop solutions that fuel business growth and transform products into accelerating profits.
White said it’s important to decide early on who will be preparing your returns. “Tax preparers are the least trained, but the cheapest to hire,” she said, noting that enrolled agents are typically more competent than tax preparers but much less so than a certified public accountant.
Further, White said it’s important to be organized—set aside a manila folder for all tax documents. “Schedule your appointment early, especially if you have a child applying for financial aid and, if you have not updated your payroll department with your new address, do so today to avoid delays,” she said.
The new tax year accompanies an interesting set of new facts for African-Americans, according to The White House.
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