Tax Return sign and text that says 5 Steps for Filing Your Tax Return

5 Steps for Filing Your Tax Return

By
Posted in Help, Tips and Tricks

Instructions for Filing for 2019 Tax Returns

Many Americans look forward to receiving their tax returns all year. Whether your tax return money goes toward booking a vacation, paying off debt or buying a new car, it’s wonderful to have some money back from all the taxes paid throughout the year. The due date for filing for your 2019 tax return is April 15, 2020, but individuals who need more time to gather their tax documents can file for an extension by the deadline. Do you need instruction for filing tax returns? Check out our five-step process below!

Step 1: Gather Paperwork

Before you can file your taxes, you’ll have to gather your paperwork. This includes a W-2 form from each employer, earning and interest statements, like 1099 and 1099-INT forms. Individuals who plan to itemize their return should make sure to file receipts for medical expenses, business expenses and charitable donations.

Step 2: Determine Filing Status

The second step of doing taxes is determining your filing status. There are a few things to take into consideration before this, like marital status and the percentage of household expenses you cover. Options for this criterion include single, married filing jointly, married filing separately, head of household and qualifying widow(er) with dependent child.

Step 3: Decide How to File Your Taxes

There are a few options when it comes to deciding how to file your taxes. The IRS recommends using e-file services for the best results. A few of these online resources include TurboTax, H&R Block or any e-file provider found on this website.

Read More: Where Can I Buy a 2021 Kia Seltos in Northeast Florida?

Step 4:  Standard Deduction or Itemized Return?

You have to determine which kind of deduction you’d like to take. There are two options—standard and itemized. While both deductions reduce taxable income, the standard deduction is the most selected and eliminates the need to keep records and receipts of expenses. Itemized deductions are more beneficial if you had large medical and dental expenses, made large contributions to qualified charities, had unreimbursed work expenses or paid mortgage interest and real estate taxes on your house.

Step 5: File Taxes

If you owe money on your taxes, you can make a payment online. Otherwise, you should file your taxes before April 15. You can expect to have your tax returns back within about three weeks of submitting. If you’re curious about when you’ll get your return, check your refund status here.

Buy a Kia with your Tax Returns!

2021 Kia Seltos driving down road

If you’ve been waiting to get a new car until you receive your tax returns, your wait is almost over! When you’re ready to shop for a new Kia, visit us at Family Kia of St. Augustine to check out our deals on 2019 and 2020 Kia models. Below are a few Kia vehicles that offer great value for their price.

  • The all-new 2021 Kia Seltos is a cost-efficient compact SUV with all-wheel drive, the most updated technology Kia has to offer, and boastsa slick and athletic design. The Seltos is available in five capable and affordable trim level options, and its starting MSRP* is around $21,990.
  • The Kia Soul is a very popular model here at Family Kia of St. Augustine. With a starting MSRP* of only $17,490, the Soul is an excellent compact SUV option for small families, couples or individuals.
  • The Kia Sportage is an incredibly capable small SUV loaded with advanced technology, innovative safety features and offers 30 to 60.1 cubic feet of cargo volume. The Sportage has a starting MSRP* of $23,990.
  • When it comes to affordable compact cars, the Kia Rio is where it’s at. The Rio has a starting MSRP* of $15,850 and offer sophistication and practicality.

Thanks for reading! Contact our sales team with any questions about purchasing a 2019 or 2020 Kia model.

*”Starting MSRP” price is manufacturer’s suggested retail price (MSRP) for lowest model trim. See “Build and Price” section for MSRP of model shown. MSRP excludes destination and handling charges, taxes, title, license fees, options, and dealer charges. Vehicles shown with optional equipment. Actual price set by dealer and may vary. The applicable destination and handling charge per model are provided in the “Build and Price” section. See dealer for details. Some features only available as part of packages. See “Features & Specifications” and “Options” pages for details. Kia Motors reserves the right to make changes at any time as to vehicle availability, destination, and handling fees, colors, materials, specifications, features, accessories, packages, and models. Not responsible for typographical or computer errors.