9. Always File Your Taxes
It pays to file and pay your taxes when the financial year comes to a close in the long run. Be in the know that filing your taxes within the prescribed deadline enables you to save on taxes by making the most deductions. Additionally, enumerating explicit deductible heads, including but not limited to gift checks to charitable institutions, property tax, and mortgage interest, helps make optimum savings.
On the other hand, consider the downsides of defaulting on tax payments of not paying at the same time. You’ll have to pay a late fine over and above what you owe and perhaps be saddled with a poor credit score.