Filing My Taxes Early Cost Me My Stimulus Check

"A smart person learns from [their own] mistakes, but a truly wise person learns from the mistakes of others." Here's one CPA's story of how doing the "right" thing cost him and his family $2,400.

(Image credit: coward_lion)

Being a CPA, of course I aim to minimize my tax bill and qualify for any tax advantage available. Doing anything less would be doing myself a disservice. That said, I’m here to admit to making a major blunder that has cost my family $2,400 of tax-free stimulus check money.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Owner, WealthUp

Riley Adams, CPA, is originally from New Orleans but now lives in the San Francisco Bay Area, where he works as a senior financial analyst at Google. He is also the founder of WealthUp, a personal finance website where people of all ages can learn about money, discover their financial selves, and develop the skills they need to grow their nest egg.