Solutions to Make Better Decisions with Your Taxes and 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 […]

9 Tips for Getting the Biggest Tax Refund Possible

9 Tips for Getting the Biggest Tax Refund Possible - TaxACT Blog

Updated for Tax Year 2015 There is something deeply satisfying about receiving a big, fat refund from the IRS. Your boss withholds a big slice of your paycheck each month for federal and state income taxes, and now is your chance to get some of that cash back. If your goal is to get the […]

10 Common Tax Mistakes That Could Cost You

10 Common Tax Mistakes That Could Cost You - TaxACT Blog

The U.S. tax code runs nearly 4 million words. But even though the tax rules are complex, most of the mistakes that taxpayers make are fairly simple. Here are 10 of the most common tax mistakes that trip us up and how to avoid them: Not filing on time The IRS estimates that 20 percent […]