What Are the Most Common Tax-Filing Mistakes?
Tax filing mistakes happen. If you choose to e-file rather than file by paper return, the likelihood of making a filing mistake decreases. Full story
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Is Your Summer Vacation a Tax Write-Off?
Uncle Sam loves money so much that he’s willing to give you a tax deduction to help you make even more, so he can collect a little extra in taxes. You can use this to your advantage because you can deduct any “ordinary and necessary expenses” related to the pursuit of business, including trips. Full story
Value Added Taxes Around the World
Some Americans are unfamiliar with the concept of a value added tax. While no value added taxes (or VAT) yet exist in the United States, they are collected throughout much of Europe. Full story
Five Reasons You Should Budget
Let’s be honest, budgeting isn’t fun. Here are five reasons you should do it anyhow. Full story
What Does Healthcare Reform Law Mean for Businesses?
Business owners and others are analyzing the healthcare reform law to see what new adjustments to expect to make the transition smoother. A new provision that is expected to start in 2012 might impact how small business owners do their taxes. Full story
Where Is Your Tax Money Going in 2010?
According to the most recent Census study, the medium household income in the US is $52,029. So, in 2010, with a tax rate of 20.9%, a total tax bill of $10,850 could be expected. Full story
Meet the @TeamTurboTax Hall of ‘Twame
This year, TurboTax connected 40 tax and tech experts from across the company with customers in need on Twitter using @TeamTurboTax. The @TeamTurboTax team addressed hundreds of questions from Feb. 1, 2010 through the tax deadline. About 71% of those we asked decided to recommend TurboTax after their interactions with the team. Full story
Flood Victims: Casualty Loss Deductions Might Be for You
Recent flooding could indicate taxpayers who experience personal property losses not covered by either insurance or government reimbursement might qualify to claim them as casualty loss deductions. Full story
Take Advantage of These Tax Credits Before It's Too Late!
Unless you’ve filed extensions like I have, you can finally put the 2009 tax season behind you. Don’t miss out on some deductions and credits that could expire in 2010. Full story
Seven Un-Boring Ways to Waste Your Refund
What are you going to spend your tax refund on? According to CNN, most people plan to pay off their credit cards or catch up on other bills. Yes that is the safe and practical thing to do, but all I could think of was BOOORING. Full story
What is the current IRS status on processing returns?
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
IRS Announces E-file Opens January 30, 2013
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
Bonus Time: How Bonuses Are Taxed and Treated by the IRS
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
What is a Schedule K-1 Form?
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
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