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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 … [Continue reading]

Weekly Favorites: Beware These 5 Terrible Tax Surprises, and more

TaxACT Weekly Favorites

TaxACT Weekly Favorites:  February 28, 2014 Beware These 5 Terrible Tax Surprises via Bankrate You've always followed the sage advice of the late singer-songwriter Jim Croce: You don't tug on Superman's cape, you don't spit into the wind, and … [Continue reading]

6 Ways to Pay Your Income Tax Bill

6 Ways to Pay Your Income Tax Bill - TaxACT

If you owe taxes on your income tax return, the IRS gives you multiple payment options. 1. Automatic payment If you bank online, you can set up a payment to the IRS just like you do with other bills. If you're filing early, you can set the payment … [Continue reading]

Can You Claim Your Parents as Dependents?

Can You Claim Your Parents as Dependents? - TaxACT

You know you can claim your kids on your tax return. What if you also support mom and dad? If you pay some or all of your parents' expenses, you may qualify for dependency exemptions for them, just as you do for your children. Benefits of … [Continue reading]

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 … [Continue reading]

Most Common Tax Forms

Most Common Tax Forms - TaxACT

By the first or second week of February, you should have received informational statements from every employer you worked for last year. You should have also have received statements from places that paid you or to whom you made tax-related … [Continue reading]

Schedule C: Reporting Self-Employment Income from Multiple Sources

Schedule C: Reporting Self-Employment Income from Multiple Sources - TaxACT

How to decide if you have one or more Schedule C businesses? Self-employed individuals often have more than one activity going at once. You can report closely related activities together on one Schedule C. If you have unrelated activities, … [Continue reading]

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