Solutions to Make Better Decisions with Your Money

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, … [Continue reading]

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 … [Continue reading]

Taxes and the Sharing Economy — Here’s What You Need to Know

Taxes and the Sharing Economy—Here’s What You Need to Know - TaxACT Blog

It’s so easy to make a little cash now. Rent a room on Airbnb. Drive someone around town by Uber or Lyft. Sell used books and DVDs on Amazon, or a piano on eBay™. Tweet this It’s all good – until you get a tax bill you weren’t … [Continue reading]

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]