It is impossible to escape the stress that comes along with tax season completely. However, it would be nice to know in advance how much we have to pay the IRS or how much we can expect to receive back. The good news is thanks to Turbo Tax you can know in advance and it … Read the rest
If you or someone you claim on your tax return is going to college this fall, some of your costs could save you money when tax season kicks off. You may be eligible for a tax credit on your federal tax return. Therefore, today we are providing you with tax credits and tips for back … Read the rest
Since January 2014 the Affordable Care Act mandates that majority of Americans have health insurance or pay a tax penalty. If taxpayers decide to obtain their health insurance through the Health Insurance Marketplace, they potentially could get tax credits that could make their monthly premiums more affordable.
These tax credits are for those who … Read the rest
The cost of education is always rising. However, if you are someone who wants to grow your knowledge base you will be happy to know that education tax deductions and credits can help you with the costs of your education.
The IRS may not have issued their 2015 Refund Cycle Chart, but there are plenty of them spread throughout the web. However, they are composed of estimates based on trends from previous years. Usually, they are based on how you opted to get your refund – check or direct deposit.
When looking at tax refund … Read the rest
Many US taxpayers look forward to receiving their tax refunds during the tax season. However, if you have never prepared your own tax return, it can be mysterious as to how the refund amount you receive is determined. The good news is the process is easy.
Once your taxable income has been determined, a tax … Read the rest
One of the top questions that taxpayer’s research from the middle of February until April 15 is when they will receive their income tax refund. This answer depends on a few things; however, the good news is there are numerous tools that can assist you with an estimation date.
First, if you file your tax … Read the rest
For those of you that didn’t know, there was a $1,000 Child Tax Credit that was developed from the Bush tax cuts. This $1,000 credit was supposed to expire at the end of the 2012 calendar year. However, it has actually been extended!
This is obviously very good news for all of us with children. … Read the rest
Tax deductions make it so you can decrease your taxable income amount. They are calculated by using a percentage of your marginal tax bracket. For example, let’s say you fall in the 25% tax bracket, if you received $1000 in tax deductions you would be saving $250 in tax (0.25 x $1000-$250).
Since tax … Read the rest