Skip to Content loading...

Not a member yet?

Listerhill Credit Union is a nonprofit financial cooperative improving lives in our community.

If you live in Alabama, Georgia, Mississippi, Florida, or Tennessee, you are eligible to become a member. Depending on your individual eligibility, we may require membership into an approved association at no cost to you.

You can also qualify for membership by being a family member of a current or potential Listerhill member.

With only $5, you can join Listerhill today and start taking advantage of a lifetime membership.

Calculator For Taxes

6 Common Tax Mistakes You Should Avoid

Make sure to avoid these six common mistakes while doing your taxes this year.

Editorial Note: Articles published are intended to provide general information and educational content related to personal finance, banking, and credit union services. While we strive to ensure the accuracy and reliability of the information presented, it should not be considered as financial advice and may be revised as needed.

It’s that time of year again! Get ready to break out the calculator and pencils; dig out the enormous pile of receipts, tax forms and pay stubs, and get to work. Drowning in paper and getting numb from all those numbers? Take heart! As soon as you’ve got it all organized and filed, you don’t need to think about your taxes again until next year.

Don’t be too hasty, though. You don’t want to wind up making a mistake that’ll delay your refund, make you accountable for a fee or, even worse, force you to do that dreaded paperwork and math all over again!

Whether you choose to do it alone, use a tax-prep computer program or hand it all over to an accountant, begin by checking out our handy list of common mistakes people make on their taxes.

1. Faulty math

Believe it or not, one of the most common errors on filed taxes is simple math mistakes. A small miscalculation can throw off all your numbers and get you into trouble with the IRS. Using an online program or a number-loving accountant may mitigate this problem, but it won’t assure you of anything. However you choose to prepare your taxes, be sure to triple-check all the math before filing.

2. Name changes and misspellings

When preparing your taxes, you’re thinking numbers. It’s true that most of the information you’re submitting is in numerical form, but don’t forget to pay attention to everything else on your form! Details matter, and if you use a name that’s different than the one the IRS has on file for your Social Security number, your refund may be delayed or not processed at all. Similarly, if you spell your name wrong, it won’t match the one the IRS has in its system and it could mean trouble for you and your taxes.

If you’ve recently changed your legal name because of a marriage or divorce, be sure to let the Social Security Administration know. Otherwise, remember to use the correct spelling of your legal name on all your tax forms. Review every form carefully before filing to avoid frustration later.

3. Omitting extra income

Detailing your earnings from your day job is a given when preparing your taxes. Most of us even remember to include bonuses and extra commission earnings. But many people neglect to include other sources of income, such as freelance work, moonlighting as a consultant and any other side work they may have done throughout the year. If you’ve taken any side jobs, be sure to fill out a 1099-MISC and to file it along with your taxes.

4. Deducting funds donated to charity

Everyone knows you can write off charitable donations as a deduction, but many people aren’t sure how to go about taking this step. Charity laws are complicated! First, only donations given to an organization with a tax-exempt status can be deducted from your taxes. Second, if you’ve donated food items or used clothing, they had to have been in decent shape to be eligible as a write-off. Finally, calculate the value of your non-monetary donations according to what they would be worth if you’d sell them now. Don’t forget to include those charity tax receipts when you file!

5. Using the most recent tax laws

When preparing your taxes, be sure to file according to the most recent laws.

6. Signing your forms

Last, but definitely not least, don’t forget the most basic step of signing your name! If you’re filing through USPS mail, be sure to put your John Hancock wherever necessary (and get a receipt for it.) If filing online, you can use a PIN instead. Most signature lines will need to be dated as well.

Read through all of your forms before submitting to be sure you haven’t neglected anything or made mistakes. Being super-careful now will help you avoid any future aggravation. And best of all, this way, when you’re done filing, you can finally kiss that paper mountain goodbye!

default icon for Solution Finder Intro
What can we help you with? *
default icon for Checking For Mature Members
What are you borrowing for?
default icon for Checking For Mature Members
Vehicle Options
default icon for Checking For Mature Members
Home Options
default icon for Carrolls
What are you saving for?
default icon for Carrolls
How old are your kids?
default icon for Cord
Which of these banking options are you interested in?
default icon for Cord
How old are you (or your child)?
default icon for Cord
How old are you?
default icon for Cord
What kind of account are you looking for?
search popup background

What are you looking for?

Common Links

Frequently Asked Questions

  • What are some factors to consider when choosing a rewards credit card?

    Determine whether you prefer cash back, travel points, or other reward types. Then, explore how and when reward points accumulate, if there are spending caps, and how easy it is to redeem your rewards. Financial institutions like credit unions tend to offer great rewards credit cards.

  • How can I compare credit card offers before making a decision?

    Carefully review rewards programs, like cash back or travel miles, when comparing credit cards. Also, consider the rewards rate, interest rates, annual fees, and any additional benefits the card includes.

  • What are the benefits of choosing a credit union's credit card compared to others?

    Our credit cards reward you for making purchases. They feature competitive interest rates and fewer fees than traditional banks. Members benefit from personalized customer service. We work closely with you to understand your financial situation and needs.

  • What if I prefer to make my payments through a pre-authorized automatic payment arrangement (ACH)?

    Please contact TruHome at 844-203-3642 to set up automatic payments or visit here to set them up yourself.

  • What if I prefer to make my payments through the Listerhill Mobile Banking app or Online Banking?

    Unfortunately, when the transfer occurs, mortgages will not be displayed on our app or in online banking, but we are working to bring that functionality ASAP.

    In the meantime, please visit here to view all mortgage information and payment options.