Solutions to Make Better Decisions with Your Taxes and Money

Taxes and the Sharing Economy — Here’s What You Need to Know

Taxes and the Sharing Economy—Here’s What You Need to Know - TaxACT Blog

It’s so easy to make a little cash now. Rent a room on Airbnb. Drive someone around town by Uber or Lyft. Sell used books and DVDs on Amazon, or a piano on eBay™. Tweet this It’s all good – until you get a tax bill you weren’t expecting. Then you get a Form 1099-MISC […]

6 Essential Items Military Families Should Know About Taxes

6 Things Military Families Should Know About Taxes - TaxACT Blog

As a member of the U.S. Armed Forces, you have special situations that may affect your tax return. For instance, you may be able to take special deductions, and not all of your income may be taxable. In addition, you may have different state residency rules. When you use TaxACT as a member of the […]

How the Affordable Care Act May Impact Your 2014 Tax Return

How the Affordable Care Act May Impact Your 2014 Tax Return - TaxACT Blog

The 2014 tax year brings some new changes, thanks to the Affordable Care Act, or ACA. You may need to answer more questions as you prepare your return, and you may have to pay more – or less – tax based on the provisions of the ACA. Here’s how the ACA may affect your 2014 […]

7 FAQs about Form 1095-A — Health Insurance Marketplace Statement

7 FAQs about Form 1095-A — Health Insurance Marketplace Statement - TaxACT Blog

If you bought health insurance through the government health insurance marketplace in 2014, you should receive Form 1095-A in the mail. This January, you could receive a new form, in addition to the usual tax documents that show up in your mailbox. You should expect to receive Form 1095-A by January 31, 2015 if you […]

6 Tips for Organizing Your Tax Information to Make Tax Filing a Breeze

6 Tips for Organizing Your Tax Information - TaxACT Blog

Do you know where your tax forms, receipts and notes are? Use these tips to organize them easily. Maybe you’ve been filing your tax information away neatly in color-coded file folders all year, or scanning and saving them where you can find them in a second. All you need now is your Form W-2 and […]

How to Fill out Form W-4 to Keep More Money in Your Pocket

How to Fill out Form W-4 - TaxACT Blog

One of the smartest things you can do for your personal finances is to make sure you are having the right amount of tax withheld from your paycheck. If you have too much withheld, as most Americans do, you’re not making the best use of your money. If you have too little withheld, you’ll face […]

You Still Have Time to Make Retirement Plan Contributions

Retirement Plan Contributions - TaxACT Blog

If you’ve been planning to put money into a retirement plan for 2014, but it hasn’t quite happened yet, take heart. You still have time. The most convenient way to make retirement plan contributions is throughout the year. If you can have retirement plan contributions deducted from your regular paycheck, it can be quite painless. […]

5 Tax Tips Every Parent Should Know

5 Tax Tips Every Parent Should Know - TaxACT Blog

When you’re a busy parent, time flies fast! If you can find time to check out a few tax tips, the money you save may be well worth your while. Take a look at these tax tips especially for the child-rearing years: Check your child’s Social Security number Children can mean substantial tax breaks, but […]

Working Millennials — Here’s What You Need to Know about Tax Planning

Complete Tax Planning Guide for Working Millennials - TaxACT Blog

Your twenties and thirties are an exciting time. Your career is taking shape, you may be purchasing a home. You may even be starting a side business or starting to invest. As you start to make more money, you may discover you’re also paying more taxes. It’s important to plan ahead, so you get all […]

Complete Tax Planning Guide for New Parents

Complete Tax Planning Guide for New Parents - TaxACT Blog

Having children changes everything – even your tax planning. Whether you’re a new parent or you’re in the busy middle years of raising kids, it’s important to understand tax issues so you can plan ahead. Here are some tax issues, from Adoption to Zoo memberships, which may affect you as a new parent:

How to Know Which IRS Tax Form to File — Form 1040, 1040EZ, or 1040A?

1040 Tax Forms— Which One Do You Need? — TaxACT

As an individual taxpayer, you can file your tax return with IRS Form 1040, 1040A or 1040EZ, depending on your tax situation. How do you know which form you should use? You can always use Form 1040, regardless of whether you qualify to use Form 1040A or 1040EZ. Forms 1040A and 1040EZ are just simplified, […]

Keep More Money in Your Pocket with the 2014 Earned Income Tax Credit (EIC)

2014 Earned Income Tax Credit (EIC) Guide — TaxACT

The 2014 Earned Income Tax Credit, or EITC (also know as EIC), is a credit designed for lower income working individuals and families. It is intended as an additional reward for working, thus the words “earned income.” If you don’t have children, you must earn a relatively low income to qualify for the EITC. For […]

The Filing Extension Deadline Is Here—5 Tips for Finishing Your Return

The Filing Extension Deadline Is Here—5 Tips for Finishing Your Return - TaxACT

Way back in April, you hadn’t quite finished your income tax return. You filed for an automatic six-month extension of time, until October 15, to file your return. October is here – and perhaps your tax return is right where you left it, six months ago. No problem. With these tips, you should have no […]

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