Tag Archives: TurboTax

Use Turbo Tax Software To Find Deductions And Credits

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.

TurboTax

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 boxes on from the Turbo Tax 2015 website. If you own a home, have significant investments, or are self-employed, the company has different offerings for each situation.

The next step is to gather documents that you will need to get taxes ready. If you don’t already save receipts, now is the time to start. If you have medical expenses, donate money or items to charity, have a child in daycare, or have purchased an energy efficient appliance this year, you will want to have receipts handy as these can all decrease your 2015 tax burden.

Finally, spend a few minutes checking any documents that show your income (like W-2s from your work) as well as statements from banks, student loans, or anyone else who may have information about your taxes. Make sure the documents are correct, as mistakes could be costly when you begin preparing your taxes.

Not only does Turbo Tax 2015 take the stress out of preparing your taxes, it can save you big by finding deductions and credits that you may not have known about. But to get the most from your Turbo Tax 2015 software, you need to give it as much information as you can.

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TurboTax And Beating The Competition

If you have not heard of Turbo Tax, 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.

The problem with going to a tax preparation professional is that you are going to pay a huge deal of money for something that you can easily do yourself. They also never tell you how much you will owe them until afterwards as they change the amount based on the type of work they do.

US Navy 100209-N-6999H-001 Machinist’s Mate 3rd Class Austin Taylor, right, a volunteer income tax assistance member, assists Utilitiesman 1st Class Doak Walker, assigned to Naval Weapons Station Charleston, in preparing his 20 (Photo credit: Wikipedia)

Why choose TurboTax free? For starters, you will never have to worry about paying a person to do them, will be able to learn about how your money works for you, and do it from the comfort of your own home. Turbo Tax also offers you the ability to upgrade if you have more complicated matters to tend to, such as owning a business or a home. However, the free version will usually be fine for anybody needing to do their taxes. This is why Turbo Tax is an innovator in the tax industry, and why they are still going strong.

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TurboTax Can Help You With Your Taxes Filing

According to the IRS, tax-filing seasons starts Jan. 20

According to a statement made by the IRS yesterday, taxpayers can being filing their taxes 2014 returns on Jan. 20.

In spite of a last-minute tax law that as passed by Congress and and signed by President Obama, tax-filing season will begin on time.

Early in December, a bill was passed by Congress that extended more than 50 tax breaks that expired at the beginning of the year. This law has extended these tax breaks through the year’s end, making it possible for people to claim these on their taxes 2014 returns. This bill was signed into law by President Obama on Dec. 10.

View image | gettyimages.com

In years past, tax season has been delayed by last-minute tax laws that were passed by Congress. According to John Koskinen, the IRS Commissioner, this will not be the case this year.

In a statement, Koskinen said that the IRS has reviewed the late changes to tax law and found that there was nothing to prevent them from testing and updating their systems.

Every year, millions of Americans file their returns during the first several weeks of the tax season in order to expedite their tax returns.

The IRS says that in recent years, it has been able to issue the majority of tax returns within just 21 days if these returns were e-filed through a system like TurboTax. According to the IRS, filing electronically is the quickest way to get a tax return.

Kosinken also told reporters that refunds could be delayed as the result of agency budget cuts. In this recent statement, however, he did not estimate the time frame for this delay.

Approximately 150 million individual tax returns will be processed by the IRS this year. The average refund this year was about $2,800.

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Five Common Tax Myths Explained

Ginita Wall points out 5 tax myths that everyone should know about, especially with the deadline for filing right around the corner.

I would like to address some of those common tax myths that most people have heard about, although don’t really fully understand. Another source of information is TurboTax.com and the easy to use site will explain the tax myths as well as ensure that you get the biggest possible refund.

English: United States Internal Revenue Servic...

English: United States Internal Revenue Service Criminal Investigation Division Badge (Photo credit: Wikipedia)

Myth 1:

Despite popular belief, there is no evidence to suggest that if you file for an extension, you are more likely to be audited. Less than 1 percent of all tax payers are audited by the IRS, and you are also not any more likely to be audited if you file your taxes early.

Myth 2:

Whether or not you have the money to pay the IRS, you must still file your taxes by the April 15th deadline. if you owe money, you can work out a payment plan with the IRS, but you cannot delay filing just because you may owe money.

Myth 3:

Dependents who are not your relatives must be living with you, although parents are the exception to that rule, and if they live in a nursing home you can still claim them as dependents.

Myth 4:

Unless your pet expenses are directly related to your business, such as paying for a guard dog, you cannot claim your pet on your taxes, which is also one of the common tax myths. A seeing eye dog or another medically required dog would also be an allowable exception to this rule.

Myth 5:

Some states impose an inheritance tax (IN, IA, KY, MD, NE, NJ, PE, TN) and unless you live in one of those states, any tax is paid by the estate of the deceased person. Gifts that you give or receive are not taxable when it comes to filing your taxes and you do not have to declare them.

TurboTax.com is the place to look for information on these and other tax myths, and TurboTax.com can help you file your taxes easily and accurately.

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Turbo Tax Services Allow You To File Online

Now that your vacation has ended, it is a good time to begin your year on the right side with your taxes. Being prepared will enable you to get full income compensation through the help of tax volunteers.

The opening date for filing your taxes was Jan 2,2014, you could complete your taxes for filing using Turbo Tax 2014 prior to that date. Thus, this is the right time to start filing. An advantage of filing very early is that you will get your refunds earlier which is very much a logical action to take.

TurboTax: Why ask if you already know?

TurboTax: Why ask if you already know? (Photo credit: stevegarfield)

Using the fastest means of direct deposit, is the ultimate way of getting your refund. Upon e-filing, the IRS approves 90% of its refunds within three weeks or even less. Make sure your return is error free as that will delay the government from accepting your return.

If you are using Turbo Tax 2014 to calculate and prepare your taxes, accuracy, quality work and a good experience is what you expect coupled with accountability in every single eligible deduction.

If you have any hassle with calculating your taxes, you can get assistance from free tax agents to answer your queries. Professional tax agents including IRS persons, accountants and tax lawyers are also there to sort out the issues you are facing.

Are You New to Turbo Tax?

Military Edition: This version was created by the IRS with the military personnel in consideration. Turbo Tax employees working as tax experts in the military helps the other members of the military fraternity based on the situation they are in. The Military edition looks into permanent station charges, uniform deductions, residency, combat pay questions and to some extent, the Earned Income Tax Credit. Special editions for certain ranks like E-1 and E-5 have since become free. until February 14.

Personalized Interview: Turbo Tax 2014 is easy to use since it has options for entering income choices which in turn makes the work safe. It has been customized to deal with major income types and help you know the important things to know on your tax status. It also comes with video or picture tutorials for IRS forms including the 1099 and W-2 forms.

My Turbo Tax: This works for tax payers with a computer and a working network connection. Due to its online nature, you get to have a personal feeling and connection with the e-file process, your tax refund status, settings management, orders and access to your funds before the return wold be received otherwise. It has been customized to meet the situation of handsets like mobile phones and tablets or any other means which can easily get you online and perform this actions.

File With Confidence

You can file confidently because there is a customer support center where you can call Turbo Tax and ask your queries. You can trust the IRS to give you information updates especially when the tax law changes. With the Tax calculator for Turbo Tax 2014, you can know the amount of tax refunds you owe before you complete your return. There are many benefits so you should give it a free try this year instead of going to a local accounting office.

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TurboTax Makes the Most of Superbowl Time!

There is nothing better this time of year than watching the Superbowl especially if your team made it. Even if they did not, the Superbowl is an exciting game that even the less inclined football fans will be watching. With everyone’s eyes on the game, the commercials draw in viewers like no other event in the world. Wives and Mothers and disinterested daughters will even enter the room to check out the coveted spots. That is because the commercials are great during the game, and Turbo Tax will be apart of the game day festivities. These clever and reality based commercials are sure to be hit this year, and bigger than even Budweiser…….OK, maybe not as big as Budweiser, but certainly entertaining and engaging. With ads revolving around our everyday life and the questions that surround it, these cute and clever ads take the scary out of tax time. What better way to introduce Turbo Tax to America than with a Superbowl ad. Theses commercials are notoriously engaging and send a powerful message about how easy tax time can really be. So shrug off the stress, enjoy the game, and learn how easy it is to use Turbo Tax.

With ads like “Did you get a new job?” it is a sure bet that a lot of us are going to relate to these ads on a personal level. With the economy the way it is, it is a good bet that a great number of American’s are going to relate to getting that new job. Wouldn’t we all like to spin in a chair in our new office? How about the “Did you get married” spot where the new wife is asking a lot of questions as she and her husband explore their world together, and it ends with showing how easy it is to answer the Turbo Tax questions, and answering questions might not always be the easiest thing to do. Don’t be intimidated by your 2014 taxes, these ads seem to say, and for most of us that is the exact thing we want to hear. Young people doing their taxes for the first time this year will really relate to these commercials, and having the Superbowl as a forum to present these clever clips will be just the thing to get them thinking about their responsibilities, not with trepidation and fear, but with confidence that Turbo Tax will get them through it will relative ease.

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Intuit Offering Personalized Answers To Questions About The Affordable Care Act

Intuit Offering Personalized Answers To Questions

To provide assistance to the estimated 50,000,000 uninsured US citizens facing crucial healthcare decisions, Intuit Inc recently launched their TurboTax 2012 AnswerXchange. This is a unique social community that gives people customized, objective answers to their questions about Obamacare (i.e. the Affordable Care Act). This community is designed for people with no insurance, who want to know about the kind of healthcare cover available, and the cost of the Obamacare insurance exchanges.

Obamacare Protest at Supreme Court

Obamacare Protest at Supreme Court (Photo credit: southerntabitha)

Now, millions of people can use the TurboTax AnswerXchange, which is an impartial resource committed to helping citizens make informed decisions about their health insurance. The free to use website is www.turbotaxanswerxchange.com. It assesses the personal details submitted by site visitors and uses this, alongside the experience and knowledge of a web community, to answer the questions of millions of Americans. The answers can be customized to each user’s income, family, health requirements and location.

In contrast to other question and answer websites, the TurboTax AnswerXchange delivers bespoke responses to the countless questions Americans have about Obamacare. In light of the continued uncertainty and confusion about healthcare reform, the demand for personalized answers has hit an all time high. A recent NBC News/Wall Street Journal poll reports that seventy-six percent of respondents, with no insurance, did not understand the reforms and how they would be affected.

Healthcare decisions are personal by nature. Hence, TurboTax AnswerXchange has emerged as a first of its’ kind solution that delivers exactly what people require: Straightforward, doable answers tailored to their specific circumstances.

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