This demand may appear strange coming from an organization that specializes in navigating the difficulties of taxes to earn from filing millions of returns. Nonetheless, the CEO of H&R Block Bill Cobb said on Tuesday that he supports deliberations to make the 74,000-page tax code significantly less onerous. Simplify Taxes is the goal.
Cobb told “Squawk Box” on CNBC there are several ways to make the tax code simpler. He also said, however, that he thinks it is silly to discuss simply break up a 74,000-page code on the basis that it is too complex to go … Read the rest
Tax time can be a very anxious time as people begin to wonder whether they will strike it rich or end up paying out big time. The good news is that using modern software programs like Turbo Tax 2015 can not only make preparation easier, it can mean less stress next year. So let’s look at ways to Maximize Deductions and Credits.
If you have not already purchased a copy of TurboTax 2015, you may be surprised to find out that there are multiple versions of the software meant for different financial situations. To start, read the descriptions on the … Read the rest
CrowdFunding Taxes can be tricky but you need to understand them. In Salt Lake City, designer Jenny Wecker collected pledges in the mount of $42,000 when she used Kickstarter to test market a diaper bag she had created. She received over 300 orders. Previously, she had handmade her product and marketed it on Instagram.
She indicated that she and her husband never considered the tax impact of such success. Apparently, other entrepreneurs are in the same position as they succeed at crowd funding but don’t realize that the IRS considers them to be small businesses with tax responsibilities.
If you have not heard of TurboTax Intuit, you need to find a way to learn about it as soon as possible. The reason for this is that you never have to worry about paying immense fees to a company for doing only a few minutes of work. You will be able to see exactly how much you owe, how much you are getting back, and the amount you can expect to pay for Turbo Tax.
Many people may be thinking that it’s too early to think about next year’s taxes. However, if you own a small business, or you’re making moves in the coming months, you absolutely need to think about your next year’s or even quarterly tax returns. A lot of things happen throughout the year, and if you aren’t keeping tabs on anything, you may find yourself at a loss when March comes around. It’s for that reason, that many professionals, including those that are working with H&R Block, will recommend a semi-annual, midyear checkup. So let’s talk about Tips for Summer … Read the rest