3. Report all income
Another seemingly innocent mistake most tax filers make on their tax returns is not reporting ALL income. You have to report all your income on your return! Let’s say you have a regular job as a maintenance technician, but you like the life of a photographer, and you get paid for it during weekends.
Well, the taxman should know this, too. If you offer your services to a company, it will most likely report your payments as a business expense. And, again, if the pieces of information don’t match, the IRS is behind you because the agency expects to find the exact same amount reported on your tax return.
Failing to report all income sources could get you in a lot of trouble, so make sure to provide the right information!
