Bankhead Tax and Insurance Service's

Filing Tips
• File electronically with direct deposit for faster refunds.
• Double-check dependents and Social Security numbers to avoid delays.
• Consider quarterly estimated taxes if you have other income sources.

BONUS SATURDAY TIP

Choose the right business structure.
💡 LLC, Sole Proprietor, or S-Corp impacts how much tax you pay.

📌 WEDNESDAY – IRS TIP

Save receipts for at least 3 years.
💡 Digital copies are acceptable—just make sure they’re readable.

TUESDAY – IRS TIP

Track expenses all year—not just at tax time.
💡 Use a spreadsheet, app, or bookkeeper to stay organized.

SINGLE & HEAD OF HOUSEHOLD FILERS

💡 IRS TIP: Your Filing Status Can Change Your Refund

Many taxpayers file as Single when they may actually qualify for Head of Household — and that mistake can cost you.

According to the IRS, you may qualify as Head of Household if:
✔️ You were unmarried or considered unmarried on December 31
✔️ You paid more than half the cost of keeping up your home
✔️ A qualifying child or dependent lived with you more than half the year

👉 Why this matters:
Head of Household filers usually receive:
• A higher standard deduction
• Lower tax rates
• Better eligibility for certain credits

⚠️ IRS Reminder: Filing status affects how much tax you owe or how much refund you receive. Choosing the wrong one can delay processing or trigger IRS notices.

IRS Tip for Small Businesses:
👉 Keep business and personal finances separate.
Open a dedicated business bank account and use it only for business income and expenses. This makes tracking deductions easier, protects you in case of an audit, and saves you time (and stress) at tax time.

🏠 3️⃣ FILING STATUS IS BEING VERIFIED

Claiming Head of Household?
👉🏾 You need proof that you run and support the home.

That includes:
✨ Household bills you paid
✨ Records showing your dependent lived with you
✨ Proof you provided majority support

Assumptions don’t file returns paperwork does.💼 2️⃣ SIDE HUSTLES ARE ON THE RADAR

Hair, rideshare, online sales, plate sales — all of it counts.
👉🏾 The IRS wants to see the income trail.

Be ready with:
✨ Cash App, Zelle, Venmo transaction history
✨ Invoices or receipts
✨ Bank deposit records

If money touched your hands, expect questions.