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Life Events Series: How Will Buying My First House Help My Taxes?

February 18, 2020 / TurboTaxBlogTeam

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?

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Income and Investments

8 Ways to Fund Your Retirement in 2020

February 14, 2020 February 18, 2020 / TurboTaxBlogTeam

Is this the year you’re going to make the most of your retirement savings? At T. Rowe Price, we recommend you try to save at least 15% of your income (including any 401(k) company match) each year for retirement. That’s...

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Tax News

4 Key Things You Need to Know About the New 2020 IRS Form W-4 Employee’s Withholding Certificate

February 13, 2020 February 18, 2020 / TurboTaxBlogTeam

You may or may not have heard that the IRS launched a new redesigned Form W-4 used to adjust federal tax withholding, which is effective starting with tax year 2020 taxes (the ones filed in 2021). The IRS created the...

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Tax Planning

Do You Financially Support Your Family Living Abroad? See if You Qualify for any Deductions on Your Income Tax

February 10, 2020 / TurboTaxBlogTeam

Family ties are so strong that our love thrives despite any distance between us. That’s why we’ll always be willing to help them out; it doesn’t matter where they are located. Sometimes we’ll mail them packages stuffed with gifts and...

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Taxes 101

Can I File Exempt & Still Get a Tax Refund?

February 7, 2020 / TurboTaxBlogTeam

The IRS issues tax refunds when you pay more tax during the year than you actually owe. When you file exempt with your employer for federal tax withholding, you do not make any tax payments during the year. Without paying tax, you do not qualify for a tax refund unless you qualify to claim a refundable tax credit.

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Self-Employed

Tax Guide for the Self-Employed: Everything You Need to Know

February 6, 2020 / TurboTaxBlogTeam

Self-employed? There are special tax considerations for you.

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Announcements

IRS VITA Event Dates Announced to Help Communities with Their Tax Filing for Free

February 6, 2020 February 7, 2020 / TurboTaxBlogTeam

Intuit TurboTax is a proud sponsor of the Volunteer Income Tax Assistance (VITA) program. This program offers free tax help to people who generally make $56,000 or less, persons with disabilities and limited English-speaking taxpayers who need assistance in preparing...

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Tax Tips

Can I Claim My Pet as a Dependent?

February 4, 2020 / TurboTaxBlogTeam

Some people consider pets to be a lot like children. They’re cute, loving, playful, attention-craving, and they can’t wait for you to get home. They also poop, pee, whine, ignore your commands and break stuff. (Hey, it’s not all lovey-dovey!)...

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TurboTax News

How Much Money Will Miami Make from Super Bowl LIV? [Infographic]

January 31, 2020 February 3, 2020 / TurboTaxBlogTeam

Super Bowl LIV is here! The excitement is building and 11-time host, Miami, has already been welcoming visitors and racking up revenue from everything from hotel taxes to travel surcharges. Check out our infographic that reveals how much revenue Miami...

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Taxes 101

First Time Taxpayers: Your Go-to Guide For Filing Your Taxes

January 31, 2020 February 3, 2020 / TurboTaxBlogTeam

Picture this: you have an awesome job and are making your very own money (maybe for the first time) and all is well…and then BAM! January comes, your employer sends you a W-2 form and suddenly you are thrust into...

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