Solutions to Make Better Decisions with Your Taxes and Money

What Is Form W-2 and How Does It Work?

What Is Form W-2 and How Does It Work? - TaxACT

If you work for an employer, then your employer withholds income taxes from each of your paychecks. That’s because both federal and most state governments collect income tax year-round, not just on April 15. Every January or early February, you … [Continue reading]

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 … [Continue reading]

Read These 4 Last-Minute Tax Tips before You File

Read These 4 Last-Minute Tax Tips Before You File - TaxACT Blog

Whether you’re just getting started on your tax return or if it's almost complete, it pays to take a few minutes to read these last-minute tax tips: … [Continue reading]

Your Complete Guide to Employee Stock Options and Tax Reporting Forms

Complete Guide to Employee Stock Options and Tax Reporting Forms - TaxACT Blog

Employers often compensate employees with benefits other than just a pay check. Stock options and stock purchase plans are becoming increasingly popular. Here are some of the more common employee stock options and plans, and the necessary tax … [Continue reading]

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 … [Continue reading]

Owe Too Much Tax? 4 Ways to Lower and Pay Your Tax Bill

Owe Too Much Tax? 4 Ways to Lower and Pay Your Tax Bill - TaxACT Blog

For some people, not getting a big income tax refund is a terrible disappointment. The only thing worse is having to pay even a small amount to Uncle Sam at the end of the year. When you finish your taxes and discover you owe a small amount of … [Continue reading]

Where’s My Refund? Step-by-Step Timeline of your Tax Refund

Where’s My Refund? Step-by-Step Timeline of your Tax Refund - TaxACT Blog

From the time you prepare and file your tax return, to the day you find your tax refund in your mailbox or your bank account, you’re never alone. Here is a timeline of your tax refund and where you can find help when you need it. Where's my … [Continue reading]

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 … [Continue reading]

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 … [Continue reading]

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 … [Continue reading]

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 … [Continue reading]

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, … [Continue reading]

4 Ways to Deduct Interest on Your Tax Return

4 Ways to Deduct Interest on Your Tax Return - TaxACT

For many people, home mortgage interest is the most important tax deduction they take. It’s not the only type of interest that can be deducted, however. If you look a little further, you may find other types of interest that can save you money on … [Continue reading]

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