Solutions to Make Better Decisions with Your Taxes and Money

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 company. They ended up bankrupt and never paid me the final 1.5 months […]

What Are Capital Gains? A Guide to When These Taxes Apply

What Are Capital Gains? - TaxACT Blog

If you sold something – a house, a car, some stock, or even gold or silver coins – you may have a capital gain or loss. When we think of taxable income, most of us primarily think of our earned income, such as wages or self-employment income. We don’t always consider the car we sold […]

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 in mystery until you sit down to file for the […]

How to Know Which IRS Tax Form to File — Form 1040, 1040EZ, or 1040A?

1040 Tax Forms— Which One Do You Need? — TaxACT

As an individual taxpayer, you can file your tax return with IRS Form 1040, 1040A or 1040EZ, depending on your tax situation. How do you know which form you should use? You can always use Form 1040, regardless of whether you qualify to use Form 1040A or 1040EZ. Forms 1040A and 1040EZ are just simplified, […]

Affordable Care Act Tax Law Changes for Higher Income Taxpayers

New Affordable Care Act Taxes for Higher Income Taxpayers - TaxACT

Most taxpayers don’t need to worry about the new additional 3.8% tax on net investment income, or the additional 0.9% Medicare tax. These taxes only apply to individuals (and estates and trusts) that have income over certain levels. You generally won’t pay either of these taxes unless you make over $200,000 in one year. If […]

Weekly Favorites: Ways to Teach Kids About Taxes, April 15 Tax Tasks, Social Media Tax Spying

TaxACT Weekly Favorites: April 12, 2013

Weekly Favorites: April 12, 2013 3 (Good) Ways to Teach Kids About Taxes via LearnVest Nobody enjoys paying taxes, but next time you’re out with your kids and you encounter a fire truck rushing to the rescue, point it out to your children and say, Look! There goes our tax money being used to help […]

The Difference Between Form 1040, 1040A and 1040EZ

The Difference Between Forms 1040EZ, 1040A and 1040

Wanting to know the true differences between the 1040 Federal tax form? These forms are actually much more similar than many people think. The only real difference between the forms is in the amount of information reported. The IRS has a list of items, which if reported on your return, require using either the Form […]

5 Common Mistakes to Avoid On Your Tax Return


Are you spending countless hours organizing and preparing your income tax return? According to the IRS, the average American spends approximately 12 hours preparing a Form 1040 income tax return. With so much time invested, the last thing you want to do is make a mistake on your tax return – especially one that delays […]