In 2011, I sold some stocks and had some dividend income so I briefly considered using an accountant to file my taxes. However, since last year’s experience with TurboTax was so smooth, I decided to give it another try. Once again, I was impressed by the ease with which TurboTax handled my increasingly complicated tax […]
Tax day will come a little later this year, but is still just around the corner. If you’re expecting a refund from the IRS, you may be tempted by a Refund Anticipation Loan (RAL), or Tax Refund Loan. These loans put your refund in your pocket sooner – but come at a hefty price. Some […]
As the tax deadline approaches, it is time to start thinking about some of the tax questions that are still lingering: What will the home office deduction do to your taxes if you sell your home? I freelance as a staff writer, as well as own my personal blog Frugal Confessions. For the 20-30 hours […]
It’s time to efile! Since many tax forms are delayed this year, a lot of taxpayers are just getting their final documents. And of course, while I’m still waiting on a few more forms, many of you finally have everything you need to e file your tax return. Let’s check out all the free efile […]
The IRS just released a new unemployed tax relief program if you can’t afford to pay your taxes this spring. The tax relief is part of the Fresh Start program. Here is a summary of the unemployed tax relief program from the IRS: Who Qualifies for the Tax Relief? The unemployed tax relief is for […]
The alternative minimum tax or AMT is designed to make up for gaps in personal taxation and it can add quite a bit to your personal tax bill. If you’re at risk of having to pay the alternative minimum tax, there are a number of steps you can take to reduce the amount you have […]
Tracking tax refunds is quite the adventure this year. Readers are reporting all sorts of data points in how long it takes to get your tax refund back. Originally the IRS started out with an aggressive one week turnaround on tax refunds for efiled returns. However, once we got started, they announced a one week […]
Tax credits reduce the amount of money dollar-for-dollar that a taxpayer owes. Some popular ones include the Saver’s Tax Credit, the Earned Income Credit, the American Opportunity Tax Credit, and the child tax credit. For many taxpayers, claiming a tax credit means we get a refund from taxes we have all ready paid throughout the […]
Tax time is easy (well, relatively speaking) when all of your tax forms arrive the in the mail. However, I’m noticing an increasing trend for companies to make you login to your online accounts and download tax forms. The problem is that for those of us addicted to free money signups, the trail of accounts […]
Is alimony taxable? If you’ve recently gotten divorced and are receiving (or paying) alimony for the first time, you may be confused as to how to the IRS taxes those payments. Alimony can trigger large tax payments, especially in high-dollar divorce settlements. Depending on your situation, you may be kicked into a higher tax bracket […]
