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 Ways To File Taxes

1040.com | Best Ways 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 ways 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 an authorized agency, foster parents are then eligible for the following tax breaks.

Payments for Foster Care

Any payments that you receive as foster parents care from an authorized agency or state or local government, are not taxable income. The reason for that is because these funds are to be used to support the foster child, and not for your own personal use, as other types of income would.

Expenses Used for Foster Care

Often times, the amount that you spend for support of the foster child exceeds the payment that you receive. In a situation like that, you may be able to claim that excess as a charitable contribution on your tax return. Be aware, though, that the agency that placed the child with you must qualify as an organization authorized to receive charitable donations as defined in IRS Publication 526.

When the agency isn’t authorized to receive charitable contributions, you can use the amount of your un-reimbursed expenses as support that you provided. If the amount that you spend is at least half of the child’s total support, and you meet some other requirements, you may be able to claim the child as a dependent on your tax return.

Claiming a Foster Child as a Dependent

There really isn’t any difference in claiming a foster child as a dependent than your own biological child. Claiming the foster child when filing your taxes online with our online tax filing site, is easy. If you’ve met all of the requirements to claim the foster child, then on the dependent screen, simply check the box, foster child, enter the name and date of birth, and the program will take care of the rest.

Being foster parents can be a very rewarding experience. It also can produce various tax benefits.

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

Incredible No Big Tax Refunds

Incredible No Big Tax Refunds

Don’t Over Withhold Taxes to Get a Big Tax Refund

Yes, we know getting that big tax refund is nice and it comes in handy. But it just doesn’t make good financial sense. You’re allowing self-serving politicians to play with your money with an interest free loan, and then you have to prove to them that it belongs to you by filing a tax return.

Another reason this coming year, for not over withholding, has to do with the Equifax credit bureau breach. Over 143 million individual accounts were taken, and many of them will be used to file fraudulent tax returns. If you’re not aware what happens then, let me explain.

These thieves file fraudulent tax returns very early when tax season opens and before the IRS receives the copies of W-2’s and other tax forms. They use your View full post…

Read More... 8 Comments

File Taxes for Free Now

File Taxes for Free Now

The Ultimate Guide on How to File Taxes for Free

Do you still take your simple tax return to a CPA or a professional tax preparer? Don’t their high preparation fees seem excessive? The fact of the matter is that many individuals qualify to file taxes for free, but are still intimidated by the concept of taxes.

A few years back, I could understand this apprehension. But today, there is no reason to feel that way. Tax preparation software has become so intuitive and technologically advanced, it can literally prepare your return for you.

If your gross income is $100,000.00 or less, and it meets the IRS guidelines to file a Form 1040-EZ, there is no charge to file your federal return.

If your tax situation is in that category, it makes no View full post…

Read More... 6 Comments

How To File Your Own Taxes

How To File Your Own Taxes

Want To Know How to File Your Own Taxes?

Unless your tax return is very complex, there is no need to gather all of your tax records, and make an appointment to see a professional tax preparer. Online tax filing sites today are so intuitive, they will actually show you how to file your own taxes.

Our online tax filing site, especially, will offer you so many benefits such as convenience, accuracy guarantees, plus very fast refunds. You get all of these simply by answering a few simple interview questions, and all from the comfort of your home. Did we mention the very low cost?

Some of the major advantages to filing your own taxes online is the View full post…

Read More... 6 Comments

Here’s the Best Way to File Taxes Online

Here’s the Best Way to File Taxes Online

The Best Way to File Taxes Online With Guaranteed Accuracy

Have you ever wondered what the best way to file taxes online? Is cost your primary consideration? Or maybe you’re looking for a way to file that has 100% accuracy guaranteed. Perhaps you’re more concerned with a way that is easy to use.

We have all of the above and a lot more to offer you with our really simple online tax filing program. That’s right, you can prepare your federal and state taxes yourself at our online website. Instead of paying high fees to a CPA or one of the tax franchise operators, you may even be qualified to file your federal return free of charge.

If you’re not comfortable using a computer, let me put your mind at ease. If you can use an e-mail program, you can do your taxes online. It really is that simple. I’m a registered tax preparer and have been preparing tax returns for over thirty years, and this is the best way to file taxes online for an individual.

Tax preparation software today is so View full post…

Read More... 10 Comments