Category Archives: Turbo Tax

Charitable Summer Giving Equals Tax Deductions

During the leisure-driven summer season, people should still want to increase their charitable giving. Not only is this a noble enterprise, but it also benefits the taxpayer during tax season. There are many avenues of giving that can earn a tax deduction for the average person.

For instance, children’s summer camps provide fun and safe day care to many needy kids. They rely on donations to help parents with summer time care while parents are working and the kids are not in school. Another good avenue is finding a community fan and air conditioning drive which helps families and the … Read the rest

Turbo Tax 2014 And Mortgage Tax Deductions

Turbo Tax 2014 and Mortgage Tax Deductions

Many homeowners feel that it is more beneficial to claim a mortgage tax deduction than to pay off their mortgage. However, they really need to consider whether it is more beneficial to build up their savings or to pay off the mortgage debt completely.

English: mortgages Green Bay, WI

English: mortgages Green Bay, WI (Photo credit: Wikipedia)

First, a homeowner needs to look carefully at all the items on the return. You need to know that a tax credit is not the same as a deduction. Deductions decrease the taxes you are obligated to pay; while tax credits … Read the rest

Choose TurboTax 2013 For The Best Tax Refund Ever!

When is TurboTax 2013 Being Released?

The popular and very useful TurboTax program is back! It is nearly ready for 2013.

The TurboTax software that was designed in 2013 will be released on the 12th of December. This will be for desktop, laptop, and downloadable versions. This will be available at some point in the middle of January for those using the online version of TurboTax.

TurboTax SIGG

TurboTax SIGG (Photo credit: Frank Gruber)

Please be assured that this will be around far before you need it for preparing your 2012 tax return. You will be able to safely and easily … Read the rest

Tax Season Dates And Tips

The new tax season is approaching quickly, and now is the time to get helpful information about state and federal tax filing.

The recent government shutdown prompted the Internal Revenue Service to delay federal income tax processing until the end of January 2013. Income tax agents may complete your return prior to January 31st, but they will have to hold onto it until the 31st.

Federal refunds should still be received within three weeks if filed electronically and within eight weeks for paper returns. TurboTax 2014 may be a great resource to help you get ready no matter how you … Read the rest

IRS Fresh Start Program

IRS Fresh Start Program

There is a new system called the IRS Fresh Start Program which aims to make it easier for people to pay back taxes and avoid a lien coming against them. There are three major parts to the IRS program. Tax liens, installment agreements and offers of compromise are the three features of the program.

The program increases the amount a person can owe before the IRS will file a notice of federal tax lien. Even though the IRS can file before the 10,000 limit this does increase it for the average person.

The IRS has also … Read the rest

TurboTax Reaches Goal To Help US Troops

TurboTax Reaches Goal To Help US Troops

Intuit TurboTax recently announced that they have exceeded their $2 million goal to support US troops.  This campaign was launched in part with Mission2Match and Operation Homefront and raised over $1 million from direct donations alone.  The money will be used to support U.S. troops and their families.

Baltimore City Veterans Day Celebration

Baltimore City Veterans Day Celebration (Photo credit: MDGovpics)

Operation Homefront is a countrywide non-profit association.  Since its humble beginnings in 2002, this organization has helped more than 590,000 military families.  With 94 percent of donated revenue going directly to help service members and their families, … Read the rest