Solutions to Make Better Decisions with Your Taxes and Money

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

I Didn't Pay Quarterly Taxes — How Do I Figure out the Penalty? - 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 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 […]

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

Filing Income as a Contractor (Didn't Get 1099-MISC) - 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: 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 […]

Education Tax Credits and Deductions — Too Good to Be True?

Education Tax Credits and Deductions: Too Good to Be True? - 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 am a graduate student and I receive nearly full remission of tuition and fees from my university as part of my compensation for my teaching assistantship. My 1098-T shows that I “paid” […]

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 […]

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 […]

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 […]

You Got This Weekly Series: What are the Tax Benefits of Purchasing a Home?

You Got This - TaxACT

Each week we will answer one of the most frequently asked questions on Facebook, Twitter and TaxACT’s Blog in the “You Got This” Weekly Series. Question: I am thinking of buying a new home. What are the tax benefits? Anna via Facebook Answer: Purchasing a home is a major life decision and there are numerous things to consider in your decision-making process. […]

You Got This Weekly Series: The Tax Implications of Investing in a Business

You Got This - TaxACT

Each week we will answer one of the most frequently asked questions on Facebook, Twitter and TaxACT’s Blog in the “You Got This” Weekly Series. Question: I invested enough to fund the expected expenses in my son’s golf business to cover 3 years as did one other investor. The account can be drawn from to cover travel, food, anything that promotes […]

You Got This Weekly Series: Can Work-Related Driving Expenses Be Deducted On My Tax Return?

You Got This - TaxACT

Each week we will answer one of the most frequently asked questions on Facebook, Twitter and TaxACT’s Blog in the “You Got This” Weekly Series. Question: If I drive 65 miles one way to my job and have tolls to pay there and back, what is deductible on my taxes? Hilary via Facebook Response:

You Got This Weekly Series: Should Self-Employment Income from More Than One Business Be Reported as One Income or Separately?

You Got This - TaxACT

Each week we will answer one of the most frequently asked questions on Facebook, Twitter and TaxACT’s Blog in the “You Got This” Weekly Series. Question: Do self-employed, not as in owning their own business, but as representatives of companies like Avon and Mary Kay, need to report their income separately on their tax return or can the multiple incomes be […]

You Got This Weekly Series: Do I Have to Pay Capital Gains Tax on the Sale of My Home?

You Got This - TaxACT

Each week we will answer one of the most frequently asked questions on Facebook, Twitter and TaxACT’s Blog in the “You Got This” Weekly Series. Question: I have used TaxACT for five years and prepaid for 2013 taxes. I live on a fixed income (Social Security/Disability) and had to sell my home or it would have been foreclosed on. I did […]

You Got This Weekly Series: Can I Write-Off Dental Payments?

You Got This - TaxACT

Each week we will answer one of the most frequently asked questions on Facebook, Twitter and TaxACT’s Blog in the “You Got This” Weekly Series. Question: Can I use dental payments as a tax write-off and how much would I have to pay in for this to make a difference? Susie via Facebook

You Got This Weekly Series: Will I Get a Tax Refund This Year?

You Got This - TaxACT

Each week we will answer one of the most frequently asked questions on Facebook, Twitter and TaxACT’s Blog in the “You Got This” Weekly Series. Question: I worked part-time all year and I also collected unemployment. I get $100 each week for unemployment and $180 each month for my part-time job. I have two dependents […]

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