Solutions to Make Better Decisions with Your Taxes and Money

4 Tax Tips For Newlyweds

4 Tax Tips For Newlyweds - TaxACT

Have you recently gotten married? Getting married changes everything – your tax filing status, how much tax you pay, and more. Utilize these tax tips for getting started off right in your married life. Use the right filing status As a married person living with your spouse, you only have two choices of tax filing […]

TaxACT Acquires Balance Financial

TaxACT Acquires Balance Financial

TaxACT is pleased to share some exciting news in anticipation of the upcoming tax season. Today TaxACT acquired Balance Financial, a company with an amazing team behind leading web-based financial tools for both consumers and professionals. Balance offers software and services to make financial chores simple and fast. Their tools, education and guidance help businesses, […]

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 […]

How to File a Tax Extension [Infographic]

How to File an Extension post header

Do you need more time in filing your income tax return? Don’t sweat it – it’s easy to get a tax extension to file your return. TaxACT supports the completion of Form 4868 Automatic Extension of Time to File U.S. Income Tax Return for your federal return, as well as any necessary extension forms for […]

5 Tips When Using Form 1099-B for Stocks and Other Investments

5 Tips When Using Form 1099-B for Stocks and Other Investments

Have you received Form 1099-B from your brokerage regarding the sale of your stocks and other investments? Brokerages and other financial institutions are required to send you Form 1099-B if you sold stocks or other investments in your account. They also must send copies of the forms to the IRS. The IRS matches the information […]

How to Avoid Owing Money to the IRS

How to Avoid Owing Money to the IRS - TaxACT

Are you wondering why you owe so much in taxes this year? Want to make sure you never owe a big tax bill – or any bill at all – when you file your income taxes? Judging by the amount the average American has over withheld from his or her pay, we’re scared to death […]

Long-Term Capital Gains: How Much Tax Will I Owe?

Long-Term Capital Gains: How Much Tax Will I Owe?

Did you sell a house, some investments, or even a car this year that you may need to report as the sale of a capital asset? If you sold an asset, possibly at a profit, you’ll generally pay less tax on the gain than you would pay on ordinary income, such as wages. You must […]

Payroll Tax Cut: How to Bump Your Take-Home Pay Back Up

Payroll Tax Cut Heres How to Help

Are you feeling the pain from your reduced paycheck as of the beginning of the year? When the temporary payroll tax deduction ended in December, our social security tax deductions went back up to 6.2% of our gross pay. It was only 4.2% when the temporary reduction was in effect. 2% more of your pay […]

Weekly Favorites: 5 Tips for First Time Filers, Steps to Become Debt Free, Organize Tax Records Now

Weekly Favorites: February 1, 2013 by TaxACT

Weekly Favorites: February 1, 2013 5 Tips for Filing Your Taxes for the First Time by TaxACT Are you feeling a bit overwhelmed about the whole process? Filing a tax return for the first time can be intimidating. Here are 5 tips to help you through the process. Continue reading… 10 Steps to Become Debt […]