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VIDEO: UACPA Tax Tips

Tax Tip #1: Use a Reputable CPA

Susan Speirs, CEO of the Utah Association of Certified Public Accountants, discusses the benefits of using a reputable CPA.

Tax Tip #2: Avoid Identity Theft

Hundreds of thousands of tax refunds were paid to thieves who stole Social Security numbers. Kent Christensen, a member of the the Utah Association of Certified Public Accountants UACPA.org discusses what you can do to minimize the chances of someone getting a hold of your sensitive information.

Tax Tip #3: Itemize Your Deductions

Did you come into an inheritance this past year? It could be completely tax free. Brandon Allfrey, a member of the Utah Association of Certified Public Accountants UACPA.org, has the info you need.

Tax Tip #4: Home Office Deductions

Do you work from home? Whether it's full-time, part-time, or you simply use one-drawer to keep office papers, you could qualify for deductions on your taxes.

Tax Tip #5: Retirement Savings

Are you behind in saving for retirement? How much can you contribute to an IRA fund to get caught up? How will those contributions help my bottom line on my taxes?

Tax Tip #6: Obamacare

What is the monetary penalty for not having insurance? Did you only have health insurance for part of the year? CPA Mariah Nielsen from Utah Association of Certified Public Accountants UACPA.org walks us through the complications of the Affordable Care Act.

Tax Tip #7: Itemized Deductions & Charitable Contributions

Do you give to charities? You may be able to deduct your donations, money & items, on your taxes. CPA David Cash from Utah Association of Certified Public Accountants UACPA.org explains when charitable donations kick in.

Tax Tip #8: Child Deductions

Can you claim a child going to college as a deduction? Did you know you might be able to claim a married child on your taxes? CPA Angie Morris from Utah Association of Certified Public Accountants walks you through it.

Tax Tip #9: Avoid IRS Scams

The IRS will not call you. PERIOD. If you get a phone call from someone demanding immediate payment for taxes, hang up the phone.

Tax Tip #10: College Deductions

Is my tuition tax deductible? Can I claim my child as a dependent while they are in college? CPA Mike Criddle from the Utah Association of Certified Public Accountants answers your questions.