When Can I Start My Efile?
It’s a new year and the start of the ever dreaded tax season. But, if you’re expecting a tax refund this year, you may be eager to get started with your taxes. Some efile tax solutions, such as TurboTax and H&R Block, allow you to efile taxes as early as January 1st — however, generally the IRS begins to accepts independent efiling by January 11th. Before starting your efile, you need to be sure you have all your tax forms in hand — that is all W2 forms or 1099 forms from all employers you’ve had in the past year. Employers are required to send you...
read moreWild and Crazy Tax Deductions
With tax time here again, everyone is looking for tax deductions — and some people go out of their way to come up with some wild and crazy tax deductions. Whether it’s deducting the costs involved with donating beer, deducting costs incurred while commiting crimes, or deducting the cost of Super Bowl tickets, you’d be amazed at which deductions the IRS accepted and which were declined. You should always make use of any tax deduction that you are entitled to — but always remember that there is a limit on how far you should go! Going overboard with wild and crazy...
read moreExport Tax Data from TurboTax and Import into H&R Block at Home
The new H&R Block At Home eFile now offers free importing tools for you to import previous year’s tax data from TurboTax as well as previous versions of TaxCut. We assumed the TaxCut import would be in place with this new release, but the TurboTax import is exciting. If you’ve been doing your taxes with TurboTax for years, and you now want to switch to H&R Block, this will save you quite a bit of hassle.
read moreWhat If I Can’t Pay My Taxes?
We all struggle to make ends meet sometimes. Just because it’s tax season doesn’t mean we can just make money appear. Here are some options for you if you find you owe the IRS money and you just don’t have it. Pay with a Credit Card - The IRS will accept major credit cards for payment. see: Pay Your Taxes with your Credit Card Apply for a Payment Plan from the IRS -The IRS will set up people in lower income brackets with a payment plan to help spread out your payments and make them more manageable. Borrow from a Friend or Family Member - This is always an option, but in my...
read moreTax Deduction for Jury Duty
No one likes to hear the words “jury duty.” You are forced to do your civil duty for 6-8 hours a day, stuck in a little wooden box away from your family. And you only receive $15 a day! Well, there is a way that you can deduct your jury duty. Some employers will pay full wages out to you even if you are called. Did you know if you pay your employer back the wage you earned from jury duty (yes, that $15 a day), you can claim a deduction. Fair trade off if you ask me….normal wages for your duration of duty for $15 a day. SWEET!
read morePay Your Taxes With Your Credit Card
Most people don’t realize that the IRS will accept any major credit card (Visa, Mastercard, Amex, or Discover) to pay your taxes. The easiest way to do this is, of course, to e-file. When you use TurboTax, TaxAct, or such software, you can input your credit card information right into their secure system. You may also do this on paper taxes by just filling out the proper information on your forms. Good news for those of us who owe money and don’t have any on...
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