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A growing number of states are considering introducing and enacting out-of-state online seller tax laws known as affiliate taxes. Here is a closer look at what an affiliate tax means for you. Full story
As gas prices hover around $4.00 a gallon, seven in 10 Americans say the high cost of gasoline is causing financial hardship for their families. The nationwide average tax on gasoline of 49.5 cents per gallon has risen 1.4 cents since January of this year. Which states are being taxed more at the pump for gas and diesel? Let’s take a look. Full story
Your tax records are an important part of your financial life and it’s advised that… Full story
When you start repaying a student loan, you cannot claim a deduction for your entire payment; however, you can deduct the portion that covers your interest charges. Knowing what interest you can deduct and how to report it on your income taxes can reduce the amount of tax you pay at the end of the year. Full story
In many cases, the IRS will discover any additional income you didn’t report on your tax return or haven’t yet reported. This additional income comes in the shape of a 1099 form. Don’t fret, because it’s never too late to file it. Let’s breakdown what a 1099 form is exactly and look at some simple steps you can take to if you haven’t filed it. Full story
Many people move in the summer – some move down the street, others across town, and some relocate miles and miles away. So ponder this: if you could live anywhere, where would it be? Full story
Every year, around 10 million taxpayers file their tax returns late or not at all. Is it due to an unmotivated spirit or forgetfulness? Since filing your taxes is required, the IRS gives taxpayers the opportunity to file their taxes for past years through the use of back taxes. Full story
Say you suddenly find yourself in need of one of your old tax returns. Such a circumstance might come about when applying for a loan, be it a home mortgage, refinancing, or for college funding. If you’re unable to find your return among the piles of old photo albums and dated baseball cards in your closet, the IRS can help. Here’s how. Full story
Now that the dust has settled, tax day behind us, do you owe the IRS more than you have available to send them? Let’s look at the ways you might consider, starting with the easiest. Full story
Chances are, your tax refund is on the way. It may even be a sizable amount because the IRS reports that the average federal tax refund is in the neighborhood of average tax refund is nearly $3,000. That money can obviously put to use in a number of places, but there are some bad ways to spend a tax refund. Usually if you’re spending the refund on big-ticket items like electronics or a lavish vacation when you have more pressing financial issues is a bad idea, but if you aren’t dealing with credit card debt and have your financial house in order you can very well treat yourself to a little rest and relaxation on a budget. Full story
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Tax Break: The TurboTax Blog It's all about the refund.