Tag Archives: Itemized deduction

How To Take Advantage of Mortgage Tax Deductions

Tax Act

Mortgage Tax Deductions

Often when considering purchasing a home, one of the things that intrigues potential homeowner’s is the right to be able to claim mortgage tax deductions. There are a number of deductions that are available including interest payments, points and some closing costs. What is not always evident however, is what must be done in order to claim these deductions and when they might be most beneficial.

Prepare for additional paperwork

One of the first things that a taxpayer will need to do to take advantage of mortgage tax deductions is to prepare to itemize deductions. The … Read more at 2009 Taxes

Don’t Forget these Deductions for your Tax Return

Tax Act

Hopefully you aren’t procrastinating so much that it makes a difference, but its important to note that the due date for filing your 2011 United States federal income tax return isn’t the traditional April 15th, rather its April 18, 2012. This is due to the celebration of Emancipation Day (the day that President Lincoln signed the Declaration of Emancipation) a day earlier than normal (since April 16th is a Saturday this year). As you gather together all of your financial information for fiscal year 2011, minimize your tax liability by keeping the following deductions in mind:

Child Care Deduction
One … Read more at 2009 Taxes

Essential Tax Tips for Freelance Writers

Tax Act

The career of a freelance writer can be very rewarding. However, the career can quickly lose its appeal when tax time arrives and you owe several thousand dollars. Thankfully, there are things you can do to reduce your tax bill and prevent owing such a large sum at once. The following are just five essential tax tips for freelance writers.

Pay Your Estimated Taxes

This cannot be stressed enough. Freelance writers need to pay estimated taxes in April, June, September and January of the following year. These payments will ensure that you don’t get penalized for paying your taxes late … Read more at 2009 Taxes

Get the Biggest Refund Guaranteed With TaxACT

TaxACT is a great service that simplifies your tax refund service and does so for free. But perhaps the biggest benefit is the guaranteed increase in the size of the refund itself. TaxACT offers a pledge backed up by many different programs and functions in its up to date system.

Tax Act

TaxACT utilizes an examiner series that covers Credits, Deductions, and Income for maximum return on your refund. Stock Assistant is specially designed to quickly assess the state of your stock income. Audit Assistant will steer you safely through the nightmare scenario of being audited. There are also loan and … Read more at 2009 Taxes

Free Tax Return Filing

Free Tax Return Filing

If you are in search of an online service that still provides a way for you to file your 2008 taxes before the end of the year, Free Tax USA is the solution you have been looking for. Although e-filing of tax returns for 2008 ended on October 15, 2009, you can still prepare your tax return online for free and mail in your completed forms. Something you may not have know until now. FreeTaxUSA is one of the few online providers that helps individuals complete their taxes online for past years that they have failed … Read more at 2009 Taxes

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