Solutions to Make Better Decisions with Your Taxes and Money

Archives for April 2015

10 Events to Consider When Planning Your Child’s Financial Future

You want the best for your children: good health, a great education and solid financial security. And if you want that last part to include money for college or a financial lifeline for an accident or illness, the time to start planning is now — even if “now” means “while you’re still working on becoming […]

What to Do after Filing a Tax Extension

If you didn’t quite finish your tax return by April 18, filing for a tax extension was a smart move. It’s easy to mail Form 4868, Application for Automatic Extension of Time to File, to the IRS and get another six months to put everything together. It’s a little too easy, actually. And the extension […]

How to File a Tax Extension – And 3 Reasons Not To

For many of us, there never seems to be a convenient time to get everything together and prepare our taxes. That sometimes means filing for an automatic extension of time to file your income taxes. This is a smart move if you don’t have all your information yet. It may be your only choice if […]

How to File an Amended Tax Return with Form 1040X

No matter how carefully you gather the information for your income tax return, sometimes you find something after you file that should have been included. Perhaps you remember you spent money on energy saving equipment for which you should have received a credit. Or, you received a Form 1099-MISC and forgot to enter the income […]

I Didn’t Pay Quarterly Taxes — How Do I Figure out the Penalty?

In the “You Got This” Weekly Series, we will answer a question from our customers found on Facebook, Twitter, TaxACT’s Blog and around the web. Question: I did my wife’s taxes for the first time this year and it turns out she/we should have been paying quarterly taxes and haven’t been. We owe about $750 in taxes. From what […]

How Doing Your Own Taxes Makes You Smarter about Your Finances

As part of the TaxACT #DIYtaxes blog tour, personal finance bloggers and experts from around the web share stories and tips about doing your own taxes and how it makes you smarter about the overall health of your finances. Check out the stops made on the tour.

What Is Form W-2 and How Does It Work?

If you work for an employer, then your employer withholds income taxes from each of your paychecks. That’s because both federal and most state governments collect income tax year-round, not just on April 15 (April 18 for tax year 2015). Every January or early February, you should receive a form W-2 from your employer that […]

Filing Income as a Contractor (Didn’t Get Form 1099-MISC)

In the “You Got This” Weekly Series, we will answer a question from our customers found on Facebook, Twitter, TaxACT’s Blog and around the web. Question: In 2013, I worked for a startup and was paid as a contractor. In 2014, I worked for the same company. They ended up bankrupt and never paid me the final 1.5 months […]

Read These 4 Last-Minute Tax Tips before You File

Whether you’re just getting started on your tax return or if it’s almost complete, it pays to take a few minutes to read these last-minute tax tips: