I like to estimate my taxes long before we’re ready to file. We usually don’t get all of our K-1s to file for a few more months, but I still like to use a tax estimator to see where we’re going to end up before the tax deadline. Update: The 2011 Tax Estimator is available [...]
5 Helpful Android and iPhone Tax Apps
Posted byTax apps. Technology never ceases to amaze me. My husband’s younger siblings run their entire lives on their iPhones, so it’s only natural that the younger generation will also prepare their taxes on their smartphones. And that year has arrived; the first tax filing app is now available! In my quest to appear young and [...]
Standard Deduction
Posted byWhat is a standard deduction? How much is your standard deduction? When you fill out your tax return, you report your gross income. But before you calculate your taxes owed, you reduce your income by claiming deductions. Each year, the government publishes a standard deduction amount that is indexed to inflation. Tax payers can choose [...]
IRS Tax Filing Status
Posted byDetermine your tax filing status. Tax brackets and available credits and deductions (either the standard deduction or itemized deductions) depend on a taxpayer’s filing status. Each taxpayer must select his/her filing status at the top of each tax return. In most cases only one tax filing status will apply to you. If you qualify under [...]
6 Free Efile Tax Return Options
Posted byIt’s time to efile! My mailbox was packed with tax forms this weekend. And of course, while I’m still waiting on plenty of forms, many of you received everything you needed to e file your tax return. As the first tax filing rush of the season begins, let’s check out all the free efile options [...]
