Speedy Online Tax Services

Speedy Online Tax Services

Online Tax Services Help to Avoid These 7 Tax Return Blunders

If there’s one thing that we can count on, it’s that tax laws are constantly changing. To help us to cope, the better online tax services, such as ours at HBS Financial Group, Ltd., offer assistance to avoid the seven most common tax blunders.

These mistakes are not only made by first time tax filers with a very simple return, but also by those who file more complex tax returns. It is our hope that listing these seven types of errors will help you to avoid them.

Failure to report all taxable income

This is probably the area that so many taxpayers fail View full post…

Read More... Please comment

Filing My Tax Return Online

Filing My Tax Return Online

Filing My Tax Return Online or Use a Tax Preparation Service?

I’ve asked this question a few times, and depending on the individual, I’ve received a different answer. Those who knew more about taxes said filing my tax return online is the way to go. A few others who may not have known much about taxes, but were turned off by high tax preparer fees, agreed with them.

Others who doubted their ability to file taxes online said they would use a professional tax preparer. Some others said that a family member would prepare their taxes for them. They didn’t want the hassle and possible liability of an incorrect return.

Most all agreed and said that filing my tax return online made more sense. This method of filing your taxes has become View full post…

Read More... Please comment

Online Tax Preparation Made Easy

Online Tax Preparation Made Easy

Finally a Solution to Online Tax Preparation That Makes Sense

Now that you’ve decided to take advantage of the online tax preparation method of filing your income tax return, you need to select one of the tax vendors from the many listed in the search results.

You really need to select the one that will best supply your needs, and this will involve some research on your part. This guide may be of help to you as well. We’re assuming that you haven’t filed a tax return online before, so you may not be 100% certain on the services that you may need.

There are various factors to consider, as well as tax documents you need to have in hand before you start to look for an online tax filing service. Get all of your tax documents together such as W-2’s, 1099’s, and any other information that was sent to you.

If you’re not buying a home and don’t View full post…

Read More... Please comment

5 Free Tax Return Filing Tips

5 Free Tax Return Filing Tips

5 Free Tax Return Filing Tips to Simplify Filing Your Taxes

It’s a known and unfortunate fact that most individuals aren’t too efficient when it relates to tax return filing. We offer these free online tax preparation tips to help those who are disorganized and/or unprepared. Many are stressed out because they are not organized and it doesn’t have to be that way.

  • A checklist can be a big help in getting organized.

Making use of a good checklist will guide you in organizing all of the correct documents that you need. This one free tax return filing tip alone can make sure that you don’t miss any required details. Did we mention less stress? Getting your required documentation organized will allow you to View full post…

Read More... Please comment

How to File Your Taxes Online

How to File Your Taxes Online

How to File Your Taxes Online Faster with These Tips

There are many reasons to look for tax filing help, especially if you’re not sure how to file your taxes online. Many individuals feel that the tax laws are very complicated, and they’re simply not comfortable in filing their own tax returns.

For these individuals, tax filing help can come from a couple of sources. One option is going to a tax preparer and having him/her prepare your tax return. This may appear to be the easiest way out of your dilemma; however, the taxpayer is ultimately responsible for the return. Plus, the high fees can be a turn-off.

If the tax preparer isn’t competent, or makes an error or View full post…

Read More... Please comment

Lucrative Free Tax Filing Online

Lucrative Free Tax Filing Online

The Ultimate Guide to Free Tax Filing Online

Do you still take your tax records to a CPA or other tax professional for a simple return? Each year, millions of taxpayers are taking advantage of free tax filing online at one of the online tax filing firms.

Cost and convenience are the two major reasons for this change. Having a tax professional prepare even a simple return without itemizing, can cost several hundred dollars. Traveling to and from a tax professional can be very inconvenient as compared to doing your taxes online from the comfort of your home.

You’ve probably heard about the new tax law that goes into effect for 2018 tax returns. The primary change in this law raises the standard deduction to View full post…

Read More... Please comment

Do Your Taxes Online Fast & Accurately

Do Your Taxes Online Fast & Accurately

How To Do Your Taxes Online In Minutes

Quite often it doesn’t make much sense to have a professional handle your taxes. There are many reasons why it makes more sense to do your taxes online yourself.

It all boils down to cost. When you consider the fees charged by professionals versus the small fees to file your taxes online, its a no-brainer. During the 2018 tax season, the average fee by a pro for a federal and state return using the standard deduction was $175.00.

Filing the same return using itemized deductions, the total fee was $275.00. Say you had a side gig and had to file a Schedule C, the total fees would be in the area of $450.00 and up. In some areas of the country where the cost of living may be higher, your total fees went well View full post…

Read More... 8 Comments

1040.com | Best Way To File Taxes

1040.com | Best Way To File Taxes

Why We Think 1040.com is the Best Way to File Taxes

Did I hear you correctly? You haven’t filed your taxes yet? If not, there’s no reason to panic. We can guide you in finding the best way to file taxes – and at a low cost. What’s more, it won’t take you very long and it’s quite easy to do. Just follow our simple instructions and before you know it, filing your taxes will be nothing but a pleasant memory.

Find all of your tax documents that were sent to you

You wouldn’t start a building project without plans and filing your taxes is no different. Gather your W-2 and 1099 forms that you got in the mail, plus View full post…

Read More... 8 Comments

Tax Breaks for Foster Parents

Tax Breaks for Foster Parents

Do Foster Parents Qualify for any Tax Breaks?

If you’ve ever researched the current tax code trying to find out if there were any tax advantages in being foster parents, it had to be confusing at best. Normally, a foster child does not qualify for the same tax credits or deductions that you would receive for an adopted or a biological child. However, there are a couple of very important tax advantages that are available.

A definition of a foster child is someone who has been placed in your care by a court order or an authorized state or local government agency. If the child has not been placed with you under those rules, there are no tax breaks available. Under IRS regulations though, the child may be able to be claimed by you as a dependent. You can find out more at the IRS website, Who You Can Claim as a Dependent.

Assuming that the child has been placed with you by View full post…

Read More... 6 Comments

Incredible Tax Deductible Items

Incredible Tax Deductible Items

Tax Deductible Items for your Job – Keep Accurate Records

Most individuals who are employed, and earn W-2 wages, usually don’t have on the job expenses. However, many others do have various tax deductible items that can be used on their tax return to reduce their taxable income.

Various professions, such as law enforcement, outside sales, and construction workers, to name a few, incur expenses in the performance of their job that are not reimbursed by their employer.

These could include tools, uniforms, use of personal auto, uniform cleaning, and many others. The important thing to remember is that these employee business expenses can be deductible if you personally paid for them and you were not reimbursed by your employer.

Where do you claim and deduct these tax deductible items?

As an individual employee, you can deduct these items if you use the itemized deduction method on Schedule A, and are not using the standard deduction.

On the Schedule A, the employee View full post…

Read More... 12 Comments