Tax Deductions and Credits | The TurboTax Blog

Self-Employed

TurboTax and Create & Cultivate Share #SolopreneurTaxTips: Ep. 2

March 31, 2020 / TurboTaxBlogTeam

With the current COVID-19 situation, we know these are difficult times for both self-employed individuals and small businesses. In an effort to support and empower our self-employed community, we’re sharing step-by-step guidance on how to easily file your self-employed taxes...

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Self-Employed

TurboTax and Create & Cultivate Bring You #SolopreneurTaxTips – Episode 1

March 6, 2020 March 20, 2020 / TurboTaxBlogTeam

Calling all #solopreneurs, Tax Day is coming up! If you haven’t started filing your taxes yet, don’t fret! You still have time, and as always, we’re here to help. In partnership with Create & Cultivate and Founder of Maed Denise...

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Tax Deductions and Credits

What Medical Expenses are Tax Deductible?

February 28, 2020 / Philip Taylor

The article below is up to date based on the latest tax laws. It is accurate for your 2019 taxes (filed in 2020). Even with good insurance and a low deductible, no one truly enjoys paying medical bills. One bright...

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Home

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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Tax Deductions and Credits

All The Single Ladies…Put Your Tax Deductions Up!

February 10, 2020 March 24, 2020 / Elle Martinez

If you’re single, you may be hanging out with your lady crew for Galentine’s Day. It’s a day that’s literally leaped from TV to real life, but it can also be a great time to celebrate some financial wins together...

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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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Income and Investments

Renting Out Your Home for the Super Bowl, Long Term or Short Term? Check Out These 7 Tax Tips

January 30, 2020 / Ginita Wall, CPA, CFP®

Do you have a spare room in your house that you’d like to rent out? Maybe you’re thinking of renting it out for the Super Bowl. Or maybe you are thinking about renting out your entire home and taking off...

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Tax Planning

The High Tea on Tax Implications Before and After #Sussexit

January 28, 2020 January 29, 2020 / TurboTaxBlogTeam

With the announcement of Sussexit, you might find yourself wondering, among other things, if #Sussexit will mean a royal pain in the family’s taxes. What are the 2019 and 2020 tax implications of #Sussexit? What are the tax implications for...

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Tax Deductions and Credits

Are Your Political Campaign Contributions Tax Deductible?

January 15, 2020 / Ginita Wall, CPA, CFP®

The presidential election is here and political ads were jamming the airwaves, and your email and voice mail may have been filled with pleas from candidates for money to help them get elected. We all know that donations to charities are deductible. But if you contributed to a candidate or political party or a PAC (Political Action Committee), is your contribution deductible? In a word, NO

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Income and Investments

5 Tips for Achieving Financial Freedom

December 3, 2019 / Elle Martinez

Are you looking to make a big splash with your finances this year? Do you want to hit a money goal in the next month or so? The good news is that you can make a huge impact on your...

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The IRS filing deadline has been extended to July 15, 2020, for all taxpayers. See more tax updates related to COVID-19 here.

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