TurboTax ItsDeductible Is Going Mobile

On December 3, 2013, Intuit Inc announced that its’ new TurboTax ItsDeductible app for iPhone had become available. This app is aimed at helping the estimated seventy-five percent of US citizens who donate to charity, convert their goodwill into sizable tax deductions. This app is free of charge and offered on the iPhone with iOS7 app store.

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The Turbo Tax online program itself is very popular. When combined with the portability and convenience of a mobile device, the TurboTax ItsDeductible app allows people to easily monitor their charitable donations. This app features valuations for over ten thousand commonly donated items, like toys, clothing, sporting goods, games, appliances, household products and more.

Although most taxpayers are aware that non cash donations might be tax deductible, they do not always value the goods they donate to charity correctly. Usually, this is because they have just guessed the value randomly. For example, sometimes, bags of clothes are donated with $50.00 valuations, when the real value is over $300.00.

Prior to leaving a donation facility, people can easily and quickly input their donated goods into TurboTax ItsDeductible. Then, the app will automatically make a fair market valuation, based on guidelines by the Internal Revenue Service. This ensures that users receive the full deductions they are entitled to on their tax returns. The app uses location sensitive technology to quickly capture the address of the charity, for tax record keeping. All philanthropists should monitor their donations with this app, to be properly rewarded for their generosity.

Tax Carnival Ecstasy – November 19, 2013

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Welcome to the November 19, 2013 edition of Tax Carnival Ecstasy. We start this carnival with an article from Bill Smith on filing back taxes. We also have a really good story on filing your taxes after the October 15th deadline has passed for the year. And finally, Intuit is helping those looking for advice on completing their Affordable Care applications. Hope you bookmark, share, tweet, and like on Facebook the Tax Carnival Ecstasy.

filing

Bill Smith presents How To File Back Taxes posted at 2011 Tax, saying, “All people with income need to file taxes yearly. If you have missed one or more years in the past ten, now is the time to file back taxes.”

Death & Taxes (film)
Death & Taxes (film) (Photo credit: Wikipedia)

Bill Smith presents IRS Payment Plans Are Ideal For Paying Your Taxes On Time posted at 2012 Taxes – Free Tax Filing Options, saying, “Just don’t use one to pay your taxes when they come due as the IRS has a number of payment plans that won’t stress out your budget and incrementally trap you in a negative cycle.”

retirement

Ward Carson cfp presents Women and Retirement – The Happy 401k posted at The Happy 401k, saying, “Ward Carson is a CERTIFIED FINANCIAL PLANNER™. He is the owner of The Happy401k.com and the Managing Partner of Cambridge Financial & Insurance Group. Cambridge provides counsel to corporate clients in the areas of qualified retirement plans and executive/employee benefits. Through TheHappy401k.com, Ward shares valuable insight for sponsors and participants of corporate retirement plans”

John Schmoll presents Can You Earn Too Much to Be Good With Money? posted at Frugal Rules, saying, “A common myth is that the higher your income is the better you are with money. This problem with this myth is that it overlooks the fact that if you spend a lot while making a good salary you’ll have nothing to show for it. The path to growing wealth, however, is made up of being frugal with your spending and having your money work for you as opposed to being a slave to it.”

tax law

Bill Smith presents Filing Taxes In 2013 After October 15 posted at 2013 Taxes, saying, “If you were unable to pay your taxes earlier in the year, you might have been dreading the October 15th deadline for your deadline extension.”

tips

Lee Hadnum presents Where are the tax havens? posted at UK Tax Planning Blog.

Bill Smith presents Intuit Offering Personalized Answers To Questions About The Affordable Care Act posted at 2012 Tax – Free Tax Filing Options, saying, “To provide assistance to the estimated 50,000,000 uninsured US citizens facing crucial healthcare decisions, Intuit Inc recently launched their TurboTax 2012 AnswerXchange.”

Bill Smith presents Pink Slip Loans Worse Than Payday Loans posted at 2012 Taxes – Free Tax Filing Options, saying, “Pink slip loans are available online. However, looking for a pink slip loan online requires due diligence.”

That concludes this edition. Submit your blog article to the next edition of tax carnival ecstasy using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

The Beginning Of A New Trend In Advertising

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The Beginning Of A New Trend In Advertising

Wieden & Kennedy is largely known for some of the most creative and bold works in recent times in advertising campaigns for brands like Nike and Coca Cola as well as Proctor and Gamble. Recently, in a move that was totally unforeseen, the company was chosen to handle purchasing of media for Turbo Tax a company owned by Intuit.

As announced by a spokesperson, the tax software specialist W&K is now in charge of all media buying for TurboTax a job that was initially handled by the Initiative. This is going to be a joint affair. The company’s New York office will manage purchasing, while the Portland HQ will manage the media planning aspect of this massive account. The Initiative has been unavailable for comment.

Intuit logo
Intuit logo (Photo credit: Dell’s Official Flickr Page)

What makes this move so significant is that by and large media buying is a job that is handled by large, specialized organizations whose work includes being able to give their clients much better insights and rates considering the scale that they work on. However, with this particular move, it could be the beginning of times when scale is trumped by integration, especially with a client like TurboTax a Super Bowl advertiser. This may herald the beginning of a trend that is long talked about in the advertising world– the integration of marketing communications in terms of media and creativity.

This move by Turbo Tax was decided after an internal review process with undisclosed participants. The media and the creative reviews were done separately, but the results are what led to the move to consolidate it all.

Tax Carnival Ecstasy – August 20, 2013

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Tax Carnival Ecstasy – August 20, 2013

Welcome to the August 20, 2013 edition of Tax Carnival Ecstasy. We start this edition an article about filing back taxes from the blog 2009 Taxes by Bill Smith. John Schmoll takes a look at when is the right time to start saving money for retirement. Finally Daniel has an article on paying a personal tax to yourself from his site Sweating the Big Stuff. Hope you like the articles, like on Facebook, +1 with Google, and share the link on Twitter.

filing

Bill Smith presents Can You Still File 2009 Taxes With Turbo Tax 2009? posted at 2009 Taxes, saying, “Turbo Tax 2009 was released in late 2009 as a way for people to prepare and file their taxes themselves from a computer.”

Leader Phil Mickelson teeing off on the 18th h...
Leader Phil Mickelson teeing off on the 18th hole at TPC at Sawgrass during the final round of the 2007 Players Championship. Mickelson bogeyed the hole but still won the title by two shots. (Photo credit: Wikipedia)

retirement

Bill Smith presents Phil Mickelson Needed to Pay 61% in Taxes For His Fame posted at 2010Taxes, saying, “Phil was recently ranked at number 7 in Forbes list that consisted of the highest earning athletes around the world but paying this heavy amount of taxes to the government(s) is really a tough thing to do for him.”

John Schmoll presents When Should You Start Saving for Retirement? posted at Frugal Rules, saying, “Saving for retirement can be challenging for many. There are many excuses to use from not having enough money to it being too far away. However, by starting to save for retirement earlier rather than later, regardless of the amount, you put yourself in the best position possible.”

John Schmoll presents Investing in Stocks: Are You a Trader or Investor? Plus a Giveaway! posted at Frugal Rules, saying, “There are various strategies investors can implement in the stock market yet many do not stop to think which is best for them. This lack of preparation can significantly undermine their investing efforts and hinder their attempts to grow wealth and saving for retirement.”

taxes

Bill Smith presents 5 Popular Business Destinations For Tax Havens posted at 2014 Taxes, saying, “Taxes can often prove to be rather annoying expenditures that Government enforces on its people.”

tips

Daniel presents Force Yourself To Save With A 100% Personal Tax posted at Sweating The Big Stuff, saying, “With income taxes, you pay the government for money you earn. But with a personal tax, you pay yourself for money you spend.”

That concludes this edition. Submit your blog article to the next edition of tax carnival ecstasy using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

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Can You Still File Taxes With Turbo Tax for last year?

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Can You Still File 2009 Taxes With Turbo Tax 2009?

Turbo Tax 2009 was released in late 2009 as a way for people to prepare and file their taxes themselves from a computer. The software guided users through the process and helped them to get the biggest tax refund possible. Turbo Tax is updated every year to stay current with tax laws, so to file your taxes you must use the version of the software from that tax year.

Tax Refund Ballerz
Tax Refund Ballerz (Photo credit: bornazombie)

For 2009 taxes, this means you will need to use Turbo Tax 2009. You will not be able to e-file your taxes from 2009, but the software will let you print everything out you need so you can mail it in to the IRS. However, the IRS implements a time limit of three years on requesting tax refunds from any given year. Therefore, tax returns that were due on April 15 of 2009 had to be filed by April 15 of 2013 in order to receive the refund. If you had an extension on your taxes in 2009, which shifted the deadline to October, the latest date to file your return and receive a refund is in October of 2013.

This means that while it is still possible to file 2009 taxes with Turbo Tax 2009, the time period in which most people could actually receive a refund has passed. After the three-year period is gone, there is no way to get back any money you overpaid in taxes. In addition, you can no longer use that year’s refund to help pay taxes owed in another year.

TurboTax Makes Tax Season a Breeze

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Financial capability is a major part in an adult’s life. Finishing your degree and getting a job is needed in order to maintain a sustainable life, along with paying taxes. Tax which comes from the Latin word “taxo” meaning rate, is a monetary obligation given to individuals to support the government; it is not a donation or a voluntary contribution, rather it is an imposed donation as mandated by law. Taxes are necessary for the government to function and provide services to the people. There are two forms of taxes levied to individuals: direct and indirect. Direct taxes are imposed directly on the income or property/business of an individual while indirect taxes are imposed on commodities, sales, etc.

Earned Income Tax Credit (EITC)4
Earned Income Tax Credit (EITC)4 (Photo credit: Antonio Villaraigosa)

Get to Know Your Taxes

1. Payroll Taxes – tax which is taken out directly from an employee’s wages and calculated based on their earnings. This includes Income Tax Withholding, Social Security and Medicare taxes and Unemployment Taxes.

2. Property Taxes – these are imposed taxes based on property’s fair market value. Generally, it is imposed on realty but some jurisdictions may tax business properties, as well.

3. Sales Taxes – it is imposed on the retail price of commodities and services.

4. Inheritance or Estate Taxes – a levy paid by a person inheriting money or property from a deceased individual.

5. Gift Taxes – it is tax on property or money given by one living person to another. Some “gifts” are not taxed due to exemptions in taxation law.

Tax Season

Tax season begins and it’s time to file the necessary forms such as the W-2 form or the Wage and Tax statement. The W-2 form is an account of earnings (wages and other forms of compensation) that an employer must submit to the Internal Revenue Service (IRS) by the end of the fiscal year. It is an employer’s account of their employee’s compensation and the withheld taxes on their paycheck.

Filing taxes is a gruesome and tiring task where companies or individuals hire professionals in order to file accurate accounts. TurboTax offers a stress-free tax season.

TurboTax in Action

TurboTax helps in filing the necessary taxes along with tax deductions that the company deserves. They ask questions which are relevant to the company’s profile enabling them to see which taxes suit you along with the corresponding deductions to benefit the business. No need to worry about calculations; they will do it all. They will be there every step of the way. Their experienced and expert employees have handled taxes for years and know exactly what works on behalf of the business.

Another feature of TurboTax is that it’s done online. No need to visit a tax store, it’s just a download and a click away. The main idea is to maximize time for other things and not all on taxes, no need to pull your hair out and burn the midnight oil. They handle the IRS too, if they have any questions regarding your taxes.

No need to have your W-2 handy, they can get it from the company. Are you indecisive about which product to get? They can assist in the decision making. No need to worry about making a mistake, they can double check to avoid any penalties; if the IRS still finds mistakes, they’ll pay for your penalty plus interest.

Are the refunds taking too long to be released? They can get it fast for you through efile and direct deposit at no extra charge. Worried about not owning a bank account? Don’t worry; they can have it mailed to you.