Solutions to Make Better Decisions with Your Taxes and Money

7 FAQs about the Earned Income Tax Credit

7 FAQs about the Earned Income Tax Credit - TaxAct Blog

The Earned Income Tax Credit, or EITC, is a tax credit designed to help low- to moderate- income working individuals and couples get ahead and put more money back in their pockets. It can provide a significant boost to your tax refund each year if … [Continue reading]

Itemized Deductions vs. Above-the-Line Deductions: What’s the Difference?

Itemized Deductions vs. Above-the-Line Deductions: What’s the Difference? - TaxAct Blog

Income tax deductions are items that reduce your taxable income. But, there’s more to the story. It’s important to be aware that not all deductions are created equal. For instance, some deductions can be taken "above the line" on your tax return. … [Continue reading]

How to Estimate Your Tax Refund or Balance Due

How to Estimate Your Tax Refund or Balance Due - TaxAct Blog

This year, don’t let your tax results take you by surprise. Instead of spending time worrying about whether you are withholding enough income tax from your paycheck, take a few minutes to do something about it. Be proactive in your tax planning so … [Continue reading]

7 Ways Investment Gains and Losses Affect Your Taxes

7 Ways Investment Gains and Losses Affect Your Taxes - TaxAct Blog

If you have substantial investment gains or other income this year, make sure you know how they will affect your taxes, and be prepared to deal with them. If you have investment losses, on the other hand, you also need to know how your tax return … [Continue reading]

7 Ways Being in the Military Affects Your Taxes

7 Ways Being in the Military Affects Your Taxes - TaxAct Blog

Being a member of the U.S. Armed Forces can bring a variety of unique challenges to your financial and family life. You may serve overseas for extended periods of time, travel for training and move frequently. You may also incur special expenses, … [Continue reading]

Racing the Clock: How to Beat the Tax Extension Filing Deadline

How to Beat the Tax Extension Filing Deadline - TaxAct Blog

We’ve all had good reasons for putting off doing our tax returns at one time or another. We were waiting for additional tax information. We weren’t sure how to handle a tax situation. The task seemed too daunting, or we never found the time to quite … [Continue reading]

Insurance and Your Taxes — What Business Owners Need to Know

Insurance and Your Taxes — What Business Owners Need to Know - TaxAct Blog

We can insure just about anything we choose: our cars, houses, businesses, ability to work – even our lives. While carrying insurance may be expensive, we’re paying for peace of mind. It seems like the only thing more expensive than insurance is not … [Continue reading]

4 Financial Tips College Seniors Should Know

4 Financial Tips for College Seniors - TaxAct Blog

Senior year! It’s what you’ve been working towards since that first day of kindergarten – or at least what your parents have been thinking about. Senior year of undergrad is also the last time you really get to delay maturity and live in the … [Continue reading]

5 Expert Money Moves to Make in Financial Hard Times (plus a Bonus Move)

Money Moves to Make During Financial Hard Times - TaxAct Blog

Whether you've suffered a lay-off or have unexpected medical bills, money stressors can cause major stress and even trigger physical symptoms of anxiety. While these situations may feel overwhelming in the moment, most of these issues can improve … [Continue reading]