Solutions to Make Better Decisions with Your Taxes and Money

4 Reasons You Shouldn’t File Taxes Like Your Parents

Growing up, our parents taught us many valuable lessons to lay the groundwork for life on our own. We learned how to share and why we should tell the truth. We learned the importance of respecting others and being on time. They taught us how to properly do laundry and why we can’t eat ice […]

If am self-employed, can I deduct my home office expenses?

Learn how to simplify tracking your home office expenses.

What does Form 1099 mean?

Get a quick breakdown of what income each version of Form 1099 reports.

The keys to home ownership when you’re self-employed

People who choose to work for themselves tend to like a certain amount of independence. It takes a lot of gumption to cut ties with the traditional 9-5, and the kind of person willing to take that leap is usually in search of an independent lifestyle. But, it’s hard to be truly independent when you’re chained to […]

Self-Employed? Check Out These Retirement Plans

Being self-employed has its advantages. You don’t have a boss to tell you how many vacation days to take, or what retirement plans you have to choose from. On the other hand, you don’t have a boss to make you take your vacation time (or to pay for it), or to set up retirement plans […]

Filing Income as a Contractor (Didn’t Get Form 1099-MISC)

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 […]

How a Summer Job Affects Your Taxes

A summer job is a great way to add some extra money to your bank account. Whether you’re a cash-strapped college student, a teacher trying to stay busy during the summer months or simply have some extra time on your hands, racking up those part time hours can really pay-off. However, before you go out and celebrate […]

Schedule C: Reporting Self-Employment Income from Multiple Sources

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, however, you must report them on separate Schedule Cs. Similar activities would include different lines of […]

Tax Tips for 2014 That You Need to Know

For most people, the biggest change in 2014 is the individual mandate for purchasing health insurance. If you’re a high-income taxpayer, you may also pay higher tax rates and new taxes. If you qualify for certain tax breaks, you’ll be glad to know most of them are extended through 2014 or beyond. See if any […]