Are you one of those do-it-yourselfers who believes it is always better to know than it is to pay someone else who knows? If so, it is likely that you also feel that you should be doing your own taxes. After all, how hard can it be? Millions of people do their own taxes. There are even easy-to-use software programs to help them through it. Well, while you may be right that you can do your taxes yourself, what you might not have considered are the reasons for why you might want to pass this job off to a professional. … Read the rest
As the tax season approaches, it’s time learn about all of the new features included in the #1 tax preparation software, TurboTax 2011. Whether you have real estate investments, rental properties, mutual funds or just a simple tax return; TurboTax has a version to fit your needs.
What’s new with TurboTax 2011?
New features include, but are not limited to, expert advice via online chat or by phone. They also include a guide to take you step by step through your return, and make it easy to navigate to any section.
Two more features that can make your return much … Read the rest
Tax season is coming up very soon. Currently on the market, the country’s #1 most popular tax-prep software is TurboTax 2011. I’ve personally been a consistent user of turbo Tax for years and I’ve done reviews on an number of TurboTax versions over the years.
TurboTax is likely the most popular tax preparation software on the market. It’s also probably the best. According to my experience, it is the best. Each year there are improvements that make the software better than before.
Welcome to the February 7, 2012 edition of Tax Carnival Ecstasy. In this issue we have an article by Gregory Stokes on not Missing The Tax Credits Income Deadline. Mark Roberts takes a look at How To Choose The Right Filing Status. Plus there’s a post on Making 401k Withdrawals by Roger White. Hope you enjoy the articles, share, bookmark, tweet, like on Facebook, and come back real soon.
DeWitt Dudley presents My Mom Is Dying: What Should I Do About Estate Tax? | Law Offices of Givner & Kaye posted at Law Offices of Givner & Kaye, saying,
The average 1040EZ filer is someone who earns less than $100,000, is under the age of 65, has no dependents, does not own a home, and does not qualify for most taxable credits. Tax filing using turbo tax is easy for this kind of person. One of their electronic filing applications, called SnapTax, can help these people file their taxes in as little as ten to fifteen minutes.
For a person using SnapTax, they can use the application straight from their phone by using a smart phone to capture a picture of their files. An optical reader will then import … Read the rest
2011 unemployment insurance benefits are taxable
Millions of Americans are without regular work despite a steadily dropping nationwide jobless rate. Being in this unenviable situation inheres a major tax implication: Unless federal income tax withholding was previously requested by the payee, unemployment insurance benefit recipients face an unwelcome surprise when calculating their 2012 taxes.
Previous Congressional exemption of the first $2,400 in unemployment insurance payments no longer exists. Although all 2011 unemployment benefits are taxable, other allowable deductions are available to offset out-of-work taxpayers‘ public pecuniary obligations.
The Earned Income Tax (“EIT”) credit may be claimed by taxpayers whose … Read the rest