TurboTax Launches the TurboTax Unemployment Center
While unemployment can be overwhelming, know you don’t have to navigate it alone and TurboTax is here for you. If you recently became unemployed or furloughed, you may be wondering what’s next and what you need to understand about things like filing for unemployment benefits, how unemployment is taxed, and…Read More
Save the (Tax) Dates!
In order to help you plan for tax year 2020, we’ve compiled a list of key tax deadlines for you to keep in mind and mark on your calendar. Open Enrollment for Marketplace Insurance: November 1, 2020 – December 15, 2020 If you need Marketplace health insurance for 2021, you…Read More
10 Easy End of Year Tax Tips to Increase Your Tax Refund
It’s hard to believe that we’re in the last quarter of the year! With 2020 coming to an end, now is a great time to make some easy and smart tax moves to help lower your tax bill and increase your tax refund when you file. Start compiling all of…Read More
6 Common Life Events That Change Your Taxes
Life’s most momentous occasions typically impact our finances the most, some more unexpectedly than others. Whether you’ve just purchased a new home or you’re welcoming a new member to the family, your bank account is liable to reflect these changes in a variety of ways. But how do major life…Read More
Estimate Your Tax Refund with TaxAct’s Tax Calculator
If you’ve ever found yourself feeling like your taxes control you rather than the other way around, you’re not alone. Plenty of taxpayers often feel that their refund — or the amount they owe — is out of their hands. While this is a common sentiment, it isn’t the way…Read More
How Bonuses are Taxed Calculator
If you received a bonus you may want to understand, “how taxes are withheld from your bonuses when you receive them?” At the time of receipt of your bonus, federal taxes are typically withheld by your employer at a higher tax rate than your actual tax rate used when you…Read More
What Should I Do if I Missed the Extended Tax Deadline?
The tax year 2019 final tax extension filing deadline was October 15th, and while some of you may have scrambled to make the tax deadline, a few of you may have missed it and are wondering what to do. If you did miss the tax filing extension deadline, read up…Read More
Your Federal Payroll Tax Deferral Questions Answered
Sept. 1, 2020 marked the first day of the Federal payroll tax deferral, which is a temporary suspension of the 6.2% Social Security tax most traditional employees pay out of each paycheck. We answer your burning questions below. 1. What is the payroll tax deferral? On August 8, President Trump…Read More
Financial Planning Month: Tax Edition
The article below is up to date based on the latest tax laws. It is accurate for your 2019 taxes (filed in 2020) and 2018 taxes. October is Financial Planning Month, and what better way to plan than to take a look at your taxes! You thought you didn’t have…Read More
8 Last Minute Tax Tips to Make the Tax Extension Deadline
The air will start cooling down soon indicating fall and another important tax day are both quickly approaching! If you filed for a tax extension on July 15, you have until the October 15 tax extension deadline to file your taxes. I know there has been a lot going on…Read More
Happy First Day of Autumn: How to Not “Fall” Behind on Your Tax Preparation
When my husband and I started filing our taxes, we didn’t know everything we needed to know about filing taxes. We learn more and more each year and adjust our “system” as needed, especially since I’m self-employed. With the help of TurboTax Self-Employed, we feel more prepared and confident than…Read More
COVID-19 Unemployment Benefits and Your Taxes
The economic downturn of the coronavirus pandemic that struck back in March left millions of Americans without jobs. Currently, more than 22 million people are collecting unemployment benefits — much of which is a direct result of the country shutdown. And while the CARES Act offered some relief to those impacted…Read More
I Was Temporarily Furloughed and Then Came Back to Work, What Does That Mean for My Taxes?
When COVID-19 struck, millions of people, unfortunately, lost their jobs. Some were laid off, and others were furloughed. You may be wondering, what’s the difference between being laid off and furloughed? When you are laid off, you have been let go, with no promise of being re-hired in the future.…Read More
Did You Miss the Tax Deadline? 3 Steps You Can Take Next
The tax deadline has come and gone unless of course, you filed a tax extension. If you missed the tax deadline and didn’t file your taxes or an extension, here are a few steps you can take to get your taxes done. File as Soon as You Can If you…Read More
Tomorrow is the Tax Deadline: 7 Things You Need to Know to File on Time!
The tax deadline is upon us! Most people who are due tax refunds file early in the year, but this year is a little different. According to IRS latest stats, there are millions of tax refunds that still need to be issued for this tax season. But no matter whether…Read More
Unable to Pay Your Tax Bill? Here’s What To Do
Another bill, oh no! It doesn’t feel great to file your tax return and find out you owe money. It’s like heading out the door and discovering your car won’t start! But don’t worry, you actually have several options if you owe money on your taxes. Here is some information…Read More
TurboTax Life Events Calculator Helps Estimate Tax Savings
Whether you got married, had a baby, or purchased a home last year, your life events can feel exciting, scary, emotional, and expensive all at once. Although life’s transitions may bring about some expenses, these life changes can also bring big tax breaks at tax-time. Don’t worry, no matter what…Read More
8 Things You Need to Know to File by the Tax Deadline
Many individuals will be working to gather paperwork over the next few days to complete their 2019 taxes. Although the tax deadline was extended until July 15th, the deadline always seems to sneak up quickly. We know you may have… Full StoryRead More