This tutorial is provided and sponsored by M.E. Hansen Tax Consultants . All rights reserved.
Round money amounts to the nearest dollar.
It makes calculations easier and reduces the chances for errors. Use last year's forms as a guide so you don't forget sources of income or deductions. Watch out, though, for changes in exemption and standard deduction amounts. Always file on time even if you don't have the money to pay. At the very least, file for an extension using Form 4868.