It’s spring and that means it’s a great time to clean out the basement, attic, closets, and garage and save some money on your 2013 tax return at the same time. There are many charitable organizations that you can donate items to help those in need and take a deduction on your tax return if you itemize. If you did spring cleaning in 2012 you can also take advantage of this tax benefit and save on your 2012 taxes. Let’s look at the types of items you might like to donate.
March marks the countdown to the tax deadline and the long-awaited March Madness office pools. While employers complain that they lose money during the NCAA tournament, employees score on their office pool winnings. Our March Madness infographic looks at how March Madness activities really impact employee productivity and morale and reminds you of the tax implications of your winnings. Full story
Although I am not a fan of doing my taxes each year, using tax software… Full story
With the variation in state cigarette taxes across the United States, incentives to smuggle cigarettes into high tax states is on the rise. Our infographic looks at the variations of state cigarette taxes and the top illegal importing states. Full story
The Affordable Care Act or healthcare reform was signed into law on March 23, 2010. Some tax provisions related to the law took affect in 2010, but the requirement to purchase health insurance and how the purchase relates to your taxes doesn’t go into effect until 2014. Still, Americans remain confused about when they need to purchase health insurance and when the requirement to purchase health insurance impacts their taxes. Our experts at the American Tax and Financial Center at TurboTax put together this helpful infographic timeline to dispel the myths about healthcare reform and let you know when the key dates and events take place.
It’s not uncommon to see green on St. Patrick’s day, but there’s usually more green to go around this time of year when you get your tax refund. Instead of wasting the money, if you plan ahead you can turn your tax refund into your own little St. Patrick’s Day pot of gold. Full story
March is already here and with about 5 weeks before the April 15th deadline, you may be feeling the pressure. Perhaps you’ve had some big changes in the last year – a marriage, an addition to the family, or a new business – and don’t know how this will affect your taxes. There’s no need to worry. I have a few tips to make this year’s filing easier on you. Full story
A great milestone of your financial life is the purchase of your first home. While less exciting, the tax implications of that achievement are no less critical. After all, home ownership creates several new opportunities for you to save on your federal income taxes. Got your attention?
Invertir nunca había sido tan fácil como ahora gracias a todas las opciones disponibles para que la gente realmente aproveche sus ahorros para lograr los sueños y metas para el futuro. Full story
If you got married or divorced last year, you may have to complete an extra step before filing your taxes if you changed your name. If not, you may have a hassle when it comes to filing your taxes. I wanted to make things easier for those making the name transition by giving you an overview of the process. Full story
Already filed your taxes with TurboTax? Here is the latest information on IRS processing, so you know when you can expect your tax refund. Full story
Today, the IRS announced that it will begin accepting e-filed tax returns for the vast majority of U.S. taxpayers on January 30, about a week later than expected. The IRS anticipates that it will be able to process tax returns for about 120 million taxpayers. Full story
Bonuses can change your tax situation depending how large the bonus and what methods employers use to tax the income. Find out how bonuses(supplemental income) are taxed. Full story
If you are an owner of a partnership, LLC, S-corp, or other entity that passes through taxes to its owners, in most cases you will receive a K-1 form each year. The K-1 is prepared by the entity to distribute to owners/shareholders to outline their portion of the income, loss, and deductions. Full story