Solutions to Make Better Decisions with Your Money

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 … [Continue reading]

11 Reasons You Won’t Have to Pay a Health Insurance Tax Penalty

11 Reasons You Won’t Have to Pay a Health Insurance Tax Penalty - TaxACT Blog

It’s just about Super Bowl time, and the Oscars aren’t far behind, so maybe you’re making some bets in the office pool. (Of course we would never endorse illegal gambling!) You know, getting some skin in the game for a few bucks. While winning … [Continue reading]

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 … [Continue reading]

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 … [Continue reading]

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 … [Continue reading]

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 … [Continue reading]

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 … [Continue reading]

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 … [Continue reading]

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 … [Continue reading]

9 Tips for Getting the Biggest Tax Refund Possible

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

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 … [Continue reading]

Better Manage Your Money in 2015 with These Three New Year’s Financial Goals

3 New Year’s Financial Goals That You Can Actually Keep - TaxACT Blog

What are your New Year’s financial goals for 2015? Sometimes, a decision that starts as New Year’s financial goals can end in a dream come true when you let those goals become a new way of life. Our family did this to get out of debt, pay cash … [Continue reading]

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 … [Continue reading]

You Still Have Time to Maximize Your Refund with These Six Year-End Moves

Six Year-End Strategies to Boost Your Tax Savings - TaxACT Blog

Regardless of the outcome of the IRS open date, you still have time to maximize refunds, and get a head start on your return to be first in line to get your refund. Here are six things you can do now to increase your tax savings: … [Continue reading]

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