Solutions to Make Better Decisions with Your Taxes and Money

A Quick and Easy Guide to Filing an Income Tax Return for an Estate (Form 1041)

How to File an Income Tax Return for an Estate (Form 1041) - TaxAct Blog

If you’re the personal representative for someone who is recently deceased, you may need to file Form 1041, Income Tax Return for Estates and Trusts, for their estate. However, not every estate requires an estate tax return. Sometimes, all you … [Continue reading]

5 Popular Money-Saving Tax Deductions

5 Popular Money-Saving Tax Deductions - TaxAct Blog

You can spend a lot of time determining which tax deductions will benefit you most throughout the year – and usually, that’s time well spent. For example, if you’re in the 25 percent tax bracket, every dollar you find in deductions may save you … [Continue reading]

Understanding IRS Forms 1095-A, 1095-B and 1095-C

Understanding IRS Forms 1095-A, 1095-B and 1095-C - TaxAct Blog

Aside from Form W-2 and the usual tax documents that find their way into your mailbox during tax season, this year, you may also receive new forms related to the Affordable Care Act. But, what you are you supposed to do with them? To help clear … [Continue reading]

5 Popular Tax Credits — Do You Qualify?

5 Popular Tax Credits — Do You Qualify? - TaxAct Blog

There’s a good reason why people love tax credits. Unlike tax deductions, which lower your taxable income, tax credits lower your tax bill dollar for dollar. However, not every tax credit is the same. There are two different categories – … [Continue reading]

5 Tax Tips Millennials Can Use to Get a Bigger Refund

5 Tax Tips Millennials Can Use to Get a Bigger Refund - TaxAct Blog

Tips to get your maximum refund and put more money back in your pocket. You’ve heard the term “Millennials” used to describe people born sometime between 1980 and 2000. If your birthday fits into that time period, there’s a good chance you may be … [Continue reading]

Don’t Leave Yourself Exposed! Protect Your Health and Financial Security

Don't Leave Yourself Exposed! Protect Your Health and Financial Security - TaxAct Blog

Having health insurance is one of the smartest moves you can make financially. Not only does health insurance help protect you and your family’s health; it helps protect your financial security. An unexpected injury or illness can throw both your … [Continue reading]

7 Tax Filing Tips Parents Need to Know

7 Tax Filing Tips Parents Need to Know - TaxAct Blog

The Internal Revenue Service (IRS) offers many deductions and credits that benefit parents and other taxpayers who claim dependents. To take advantage of these tax breaks, here are seven tax filing tips you need to know. … [Continue reading]

7 FAQs to Better Understand Form 1095-C

7 FAQs to Better Understand Form 1095-C - TaxAct Blog

Beginning this January, besides your usual Form W-2 from your employer, you may receive a new form related to the Affordable Care Act; Form 1095-C. If you purchased or received health insurance outside of the health insurance exchanges in 2015, … [Continue reading]

What You Need to Know About the Penalty for Not Having Health Insurance

What you need to know about the penalty for not having Health Insurance - TaxAct Blog

With the Affordable Care Act came the requirement that nearly every American have health insurance. (This is sometimes also called the individual mandate or individual share responsibility payment.) But people who are healthy may wonder whether … [Continue reading]