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The TurboTax Blog > Articles by: asbbaines

asbbaines

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Tax Deductions and Credits

What’s the Difference Between a Tax Credit and a Tax Deduction?

February 6, 2019 / asbbaines
The article below is accurate for your 2018 taxes, the one that you file this year by the April 2019 tax deadline. It has been updated to reflect changes made by the Tax Cuts and Jobs Act of 2017. “Just...

Full Story

Tax Deductions and Credits

Three Tax Credits for Your Family

January 31, 2019 / asbbaines
Young Happy Family Of Three Enjoying Each Other Outside On SunnyThe article below is accurate for your 2018 taxes (the one that you file this year by the April 2019 deadline).  Tax season is in full swing and we want to make sure you keep your hard earned money by...

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Education

Is My Student Loan Tax Deductible?

July 28, 2018 January 4, 2019 / asbbaines
Young woman with earphone studying on library.Student loans have become a tremendous burden for many young adults and parents today. With college costs skyrocketing and little hope to cover tuition without borrowing funds in some fashion, getting stuck with those student loan payments is almost certainly a...

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Income and Investments

How Are Gambling Winnings Taxed?

July 5, 2018 January 10, 2019 / asbbaines
Adobe RGBMost people don’t think about taxes on their way to a racetrack or casino, but what might seem like nothing more than the chance to win some extra money actually carries significant tax implications. As is often the case, federal and state...

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Taxes 101

Don’t Let Filing Multiple W-2s Scare You

February 5, 2018 December 20, 2018 / asbbaines
Two young business people laughing as they look at computer monitorAccording to the Bureau of Labor Statistics, 7.5 million Americans had more than one job in 2016, and the number is increasing. Add in those who changed jobs, and you have quite a few people who find themselves with two or more...

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Taxes 101

What is the Capital Gains Tax?

January 23, 2018 August 12, 2018 / asbbaines
As tax season is beginning, a common question from filers is, what is the capital gains tax? Well, to start, the IRS deems taxable income as one of two types: ordinary or capital gain. To help you determine where your...

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Income and Investments

Bonus Time: How Bonuses Are Taxed and Treated by the IRS

November 9, 2017 January 10, 2019 / asbbaines
Blog ImageBonuses are an excellent way to motivate employees and reward top performers. However, bonuses can also quickly change one’s tax return and the amount of taxes initially withheld depending on the payout. Are bonuses treated as regular income or singled...

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Education

TurboTax Education Credits and Deductions Calculator

April 14, 2016 January 14, 2019 / asbbaines
With the cost of education on the rise, you’ll be glad to know that education credits and deductions may help offset some of that cost. Whether you’re a student or parent of a student, with this calculator, you’ll be able...

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