February 11, 2012 – 4:41 pm
It’s the start of a new year, and that means it’s time to do last year’s taxes. Are you going to do them yourself, or will you hire a tax professional to do them for you? If you’d prefer to prepare your own tax return, you might want to use an online program to help you. There are lots of different programs available, such as TurboTax and H&R Block. All will help you complete your federal and state tax returns from the comfort of your own home. There are many benefits to using online tax software, and here’s a … Read more at 2009 Taxes
February 9, 2012 – 11:16 am
Individuals that pay alimony (also known as “spousal support” or “spousal maintenance”) to a former spouse can deduct these payments on their personal federal income tax returns. In turn, the alimony recipient is required to claim the payments as income.
Before a payor takes an alimony deduction they should make sure that their payments meet the IRS qualifications for alimony. Ideally, this was addressed and discussed in detail with their divorce attorney to ensure that the alimony was structured in a way that would allow a deduction. If you are not sure whether your payments are deductible you should consult … Read more at 2009 Taxes
By Steve
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Also posted in tax credits, tax deductions, Tax Law, Uncategorized
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Tagged alimony, Deductible, internalrevenueservice, irs, Payment, requirements, Scott Morgan, tax, Tax deduction, TurboTax, United States
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February 3, 2012 – 12:21 pm
There are many tax breaks that get overlooked, but homeowners often overlook the most obvious deductions. The truth is, as a homeowner, you stand to save hundreds if not thousands off your taxes. However, it all boils down to knowing what you qualify for. The following are just some of the tax breaks homeowners may be missing out on.
Mortgage Interest
The interest you pay on your mortgage should be one the first tax breaks you take advantage of. Those filing single can deduct mortgage interest on homes up to $500,000 ($1 million for married couples). This will require a … Read more at 2009 Taxes
By Steve
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Also posted in tax assistance, tax credits, tax deductions, Tax Preparation, Tax Relief
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Tagged $1 million, Business, Capital gain, internalrevenueservice, Mortgage loan, Property tax, tax, Tax break, Tax deduction, TurboTax, United State, United States
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January 30, 2012 – 9:25 pm
Many people get nervous when it comes to thinking about retirement investing. It can be a very confusing process with complicated terms and options available. However, it is vitally important to save for your future. The earlier you start the better when it comes to saving for retirement. The successful investors are the ones who consistently put money away no matter what the markets are doing. To reach your financial retirement goals there are a couple of options available to most people.
401(k)
If you work for an employer who offers a 401(k), or similar plan, it is quite easy … Read more at 2009 Taxes
By Steve
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Also posted in Retirement Savings, tax credits, tax deductions, Tax Law, Tax Preparation
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Tagged 401k, Individual Retirement Account, Investment, money, Personal finance, retirement, roth, roth ira, tax, Traditional IRA, TurboTax
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January 30, 2012 – 11:50 am
According to emerging news reports, Romney has a vast amount of wealth invested in funds through Bain Capital LLC. This powerhouse is one of the offshore tax havens often used to help lower the 2012 taxes. Several of the Bain funds have connections offshore that are allowing the financial elite to take advantage of tax breaks.
These news sources are interested in dissecting Romney’s tax returns to see how his use of offshore strategies has allowed him to avoid taxes. Investments by Romney and others in Bain funds, have money scattered from Delaware, to Bermuda, the Cayman Islands, Ireland … Read more at 2009 Taxes
By Steve
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Also posted in Retirement Savings, tax deductions, Tax Law
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Tagged Bain Capital, Cayman Islands, Hong Kong, internalrevenueservice, Mitt Romney, Reuters, Romney, tax, Tax haven, TurboTax
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January 27, 2012 – 5:52 pm
Filing taxes can be a frustrating experience. Hiring a professional for tax filing is not an option for some people. It is easy to file your own taxes with Turbo Tax. In fact, it is possible to file right from an iPhone.
Since many people use their smart phones to do virtually everything, tax filing should not be left out. That is why Turbo Tax has a app for easy filing. It is as easy as snapping pictures of required documents and the app turns them into proper forms.
There is a small charge for electronic tax filing. … Read more at 2009 Taxes
By Steve
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Also posted in tax forms, Tax Preparation, tax returns
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Tagged Accounting, Computer file, internalrevenueservice, Intuit, iPhone, tax, tax return, turbo tax, TurboTax, United States
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