Solutions to Make Better Decisions with Your Money

If Income from ESPP/ISO Shares Sold Appears on W-2, Do I Need to Adjust Basis from Form 1099-B?

Do I Need to Adjust Basis from Form 1099-B? - TaxACT Blog

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: After entering my info into Form 1099-B, I think I’m getting double taxed on the sale of my employee stock options and ESPP shares. I haven’t adjusted the basis from what is shown […]

How to Maximize Tax Deductions and Credits

How to Maximize Tax Deductions and Credits - TaxACT Blog

Paying income taxes is the civic duty of all Americans, with the money helping to pay for national defense, highways, schools and police departments, among other things. While we’re happy to pay our fair share, no one wants to pay too much income tax. That’s where tax deductions and credits come into play. U.S. Congress […]

I Ran a Successful Crowdfunding Campaign, How Do I Need to File This for Tax Purposes?

How To Claim Crowdfunding Campaigns on Tax Return - TaxACT Blog

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 ran a successful crowdfunding campaign last year for a medical need (service animal) for my disabled daughter. It wouldn’t be covered by insurance. It’s a long process and we’ve paid a portion […]

10 Tax Deductions Every Current and Future Retiree Should Know

10 Tax Deductions Every Current and Future Retiree Should Know

You’ve finally reached your 66th birthday, and it’s time to say goodbye to the daily grind and set off on a life of retirement ease. Or so we think. In truth, retirement for most of us will require careful budgeting and smart financial planning to make our savings last for two or three more decades. […]

Is a 401(K) Really the Right Way to Save for Retirement?

Is a 401(K) Really the Right Way to Save for Retirement?

The 401(k) retirement plan, first popularized in the 1980s, is an excellent way to put aside money for retirement. Like other retirement plans — traditional IRA or Roth IRA — a 401(k) invests your money in a customized mix of individual stocks, money-market funds and bonds to maximize your return. But which type of retirement […]

10 Job-Related Tax Benefits That Could Save You Some Serious Money

10 Job-Related Tax Benefits - TaxACT Blog

There’s more to a good job than a steady paycheck. Full-time employment can earn you all sorts of perks — from employer-sponsored health insurance to generous deductions on your tax return. Here are 10 job-related tax benefits that could save you some serious money.

I Am No Accountant, but I Have Always Done My Own Taxes

You Got This - TaxACT Blog

This post originally appeared on TheJuneBride blog. So… we’re getting into tax season… Anybody excited? I thought not. Now, I am no accountant, but I have always done my own taxes. Even as a high schooler working a few hours after school, I handled my very own 1040-EZ (with some smart parents and a tax […]

What Are the Tax Subsidies for the Affordable Care Act?

What Are the Tax Subsidies for the Affordable Care Act? - TaxACT Blog

One of the central objectives of the Patient Protection and Affordable Care Act — also known as the ACA or “Obamacare” — is to make health care coverage more affordable for millions of Americans who previously couldn’t get, or couldn’t pay for, health insurance. The ACA accomplishes this, in part, by offering tax subsidies to […]

What to Expect When You’re Expecting a Refund [Infographic]

What to Expect When You're Expecting a Refund [Infographic] - TaxACT Blog

You’ve successfully organized your tax documents and receipts to e-file your taxes fast with TaxACT. Congratulations! Now, where’s my refund? How the e-file and refund process works is a frequently asked question we get. The short answer is this…

10 Tax Benefits for College Students

10 Tax Benefits for College Students - TaxACT Blog

College can be expensive, but the IRS offers a number of tax benefits for college students to make higher education more affordable for more Americans. Whether you’re a parent of a college student or paying your own way through school, here are 10 important things to know about college and taxes:

How Itemized Deductions Work

How Itemized Deductions Work - TaxACT Blog

The IRS isn’t cruel. It doesn’t want to tax every last cent you earn. In fact, it offers a standard deduction — a gift! — to all taxpayers based on their filing status. For the 2014 tax year, the standard deduction for a single filer under the age of 65 can automatically deduct $6,200 from […]

How to Maximize Your Tax Deduction for Charitable Contributions

How to Maximize Your Tax Deduction for Charitable Contributions - TaxACT Blog

If you itemize deductions on your income tax return, the IRS allows you to write off the cash value of any contributions or donations that you make to tax-exempt organizations. This is an excellent way to lower your taxable income while giving back to your community or supporting an organization that shares your values. Examples […]

Tips for Filing Taxes for the First Time

Tips for Filing Taxes for the First Time - TaxACT Blog

You can’t fully understand many important things in life until you do them for the first time: riding a bike, getting your first job, and doing your taxes. Filing your income tax return is one of those adult rites of passage that can seem shrouded in mystery until you sit down to file for the […]

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