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- Feed Preview TurboTax.com Daily Tax Tip
The Gift Tax
If you give people a lot of money, you might have to pay a federal gift tax. But the IRS also allows you to give up to $17,000 in 2023 to any number of people without facing any gift taxes, and w...
https://turbotax.intuit.com/tax-tips/estates/the-gift-tax/L1sFpFeXV
What Happens When Both Parents Claim a Child on a Tax Return?
The Internal Revenue Service (IRS) allows you to potentially reduce your tax by claiming a dependent child on a tax return. If you do not file a joint return with your child's other parent, then ...
Claiming Property Taxes on Your Tax Return
If you pay taxes on your personal property and real estate that you own, you payments may be deductible from your federal income tax bill. Most state and local tax authorities calculate property ...
The W-4 Form Changed in Major Ways ? Here's What's Different
In 2020, the W-4 form changed to help individuals withhold federal income tax more accurately from their paychecks. Learn everything you need to know so you can update your W-4 with confidence.
1031 Exchange: How it Works
Unlock tax-saving opportunities with a 1031 exchange and let your real estate investments thrive.
https://turbotax.intuit.com/tax-tips/investments-and-taxes/1031-exchange-how-it-works/c998pvsTp
What Are Inheritance Taxes?
Inheritance taxes are taxes that a person needs to pay on money or property they have inherited after the death of a loved one. Here are the basics.
https://turbotax.intuit.com/tax-tips/estates/what-are-inheritance-taxes/L93IUc3sC
Can You Claim Gambling Losses on Your Taxes?
Gambling losses are indeed tax deductible, but only to the extent of your winnings. Find out more about reporting gambling losses on your tax return.
What is Adjusted Gross Income (AGI)?
Adjusted gross income (AGI) can directly impact the deductions and credits you are eligible for, which can wind up reducing the amount of taxable income you report on your tax return.
https://turbotax.intuit.com/tax-tips/irs-tax-return/what-is-adjusted-gross-income-agi/L2C6rCEit
Deducting Health Insurance Premiums If You're Self-Employed
Most self-employed taxpayers can deduct health insurance premiums, including age-based premiums for long-term care coverage. Write-offs are available whether or not you itemize, if you meet the r...
How Do I File Returns for Back Taxes?
When would someone file back taxes, and what does this process typically look like?
https://turbotax.intuit.com/tax-tips/irs-tax-return/how-do-i-file-back-tax-returns/L535BxMms
The Gift Tax Made Simple
If you make large enough gifts to relatives or friends, you might owe the federal gift tax. Here are the basics on how the gift tax works.
https://turbotax.intuit.com/tax-tips/estates/the-gift-tax-made-simple/L5tGWVC8N
Tax Deductions for Rental Property Depreciation
If you rent out a house or apartment building, you can recover the costs of your property over time with rental property depreciation deductions
¿Qué sucede cuando olvidas presentar un Formulario 1099 en la declaración de impuestos?
Aprende lo que sucede si olvidas presentar una 1099. Ve cómo arreglar errores, enmendar tu declaración, y evitar posibles problemas con el IRS.
Should I Hire a CPA?
For the average taxpayer, it might be hard to understand what a CPA can offer. Brushing up on the ways a CPA can help you file your taxes and plan your finances can help you decide the answer to ...
https://turbotax.intuit.com/tax-tips/tax-pro/should-i-hire-a-cpa/L1Qx7Be5J
What is an IRS Tax Transcript and How Do I Request One?
Learn which situations may require an IRS tax transcript, along with how to request your tax transcript, and how to interpret it when it arrives.
EA vs. CPA Tax Professionals: What?s the Difference?
If you?re interested in professional help with your taxes, you might be wondering what types of specialists there are and which one you need. An enrolled agent and a certified public accountant a...
What is Form 4136: Credit for Federal Tax Paid on Fuels
The federal government imposes taxes on a variety of fuels. The one most familiar to taxpayers is probably the federal gas tax?18.4 cents/gallon as of 2021?which pays for road projects across the...
Multiple States?Figuring What's Owed When You Live and Work in More Than One State
If you live and/or work in more than one state, how do you determine your state income taxes? TurboTax can help you calculate the taxes you owe to different states.
Will the IRS Keep My Refund if I Didn't File My Taxes Last Year?
If you're concerned about your tax refund being held by the IRS because of unfiled returns, you have a couple of options to reduce or eliminate any extra wait for your current-year refund.
Myths about Doing Your Own Taxes
While a professional tax adviser may help in certain situations, in many cases taxes can be relatively simple. Like many things in life, once you've filed your own taxes once, a lot of the drama ...
https://turbotax.intuit.com/tax-tips/irs-tax-return/myths-about-doing-your-own-taxes/L5bDrfJwo
Tips for Filing Tax Form 1040EZ
Citizens or residents of the United States can file a tax return on Form 1040, 1040A or 1040EZ. It has some limitations that may change the amount of tax you'll have to pay, or the potential size...
https://turbotax.intuit.com/tax-tips/irs-tax-return/tips-for-filing-tax-form-1040ez/L9PxlRe0G
New Small Business Legislation Benefits Both Businesses and Individuals
The Tax Cut and Jobs Act of 2017 offers additional tax breaks for both business owners and individual taxpayers.
Video: What's New for Tax Year 2023?
Before you finish your taxes, make sure you know about some important changes that can affect you. Lisa Greene-Lewis, CPA and TurboTax expert, explains.
https://turbotax.intuit.com/tax-tips/videos/video-whats-new-for-tax-year-2023/c3d4JBBuo
What Are Tax Rebates?
Tax rebates encourage taxpayers to make certain types of purchases or to stimulate a flagging economy quickly by getting cash into consumers' hands.
https://turbotax.intuit.com/tax-tips/tax-relief/what-are-tax-rebates/L7JRXnk7x
Rental Property Deductions You Can Take at Tax Time
Rental property often offers larger deductions and tax benefits than most investments. Many of these are overlooked by landlords at tax time. This can make a difference in making a profit or losi...
Common Tax Deductions for Coaches and Personal Trainers
Just like many other specialized professions, coaches and personal trainers can benefit from some specific tax deductions. Here's an up-to-date guide on tax deductions for coaches and personal tr...
What is a Schedule K-1 Form 1041: Estates and Trusts?
An estate or trust can generate income that gets reported on Form 1041, United States Income Tax Return for Estates and Trusts. However, if trust and estate beneficiaries are entitled to receive ...
Top Tax Deductions for Photographers
With the start of wedding season, emerging blossoms, and fresh, new fashions, spring is definitely friendly to photographers. And tax season can be pretty friendly to you, too. The training, trav...
How to Use Your Uber 1099s: Taxes for Uber Drivers
If you?re one of the more than 150,000 Americans who has decided to ?get your side hustle on? by driving for Uber, this might be the first time you?ve taken on the responsibilities of self-employ...
Video: Tax Tips for Investors
If your investments went up in 2023, you may have to report those gains on your taxes. Miguel Burgos, CPA and TurboTax Live expert, has some tips.
https://turbotax.intuit.com/tax-tips/videos/video-tax-tips-for-investors/c45x92d5O
Video: Last-Minute Tax Tips
If you're rushing to get your taxes done by the deadline, time is of the essence. CPA and TurboTax Live expert Miguel Burgos offers some advice on maximizing your refund, getting an extension and...
https://turbotax.intuit.com/tax-tips/videos/video-last-minute-tax-tips/c4jXSvutO
Video: Energy Efficient Tax Credits Explained
There are several energy-efficiency tax credits that can really reduce your tax bill. Miguel Burgos, CPA and TurboTax Live expert, breaks it all down.
https://turbotax.intuit.com/tax-tips/videos/energy-efficient-tax-credits-explained/c299SXwXI
What is the IRS 1040-X Form?
If you ever discover an error on a tax return, realize you qualify for deductions or credits you didn't take, or forgot to include some income, you may be able to amend your return by filing a Fo...
https://turbotax.intuit.com/tax-tips/amend-return/what-is-the-irs-1040x-form/L7BPCydsv
A Closer Look at IRS Form 1099
It's easy to see IRS Form 1099 as representing a big liability since it reports income that hasn't already been taxed in the form of withholding.
https://turbotax.intuit.com/tax-tips/self-employment-taxes/a-closer-look-at-irs-form-1099/L05ThcXD1
When to File Taxes: Should You Always Try to Be Early?
While the most common advice is to file your taxes as early as possible, is that always the wisest choice? Depending on your situation, it might actually be more beneficial to wait in order to fi...
Is There a Dividend Tax? Your Guide to Taxes on Dividends
Is there a dividend tax? Not all dividends are created equal when it comes to reporting them on your taxes. Here are a few pointers for reporting them.
https://turbotax.intuit.com/tax-tips/investments-and-taxes/guide-to-taxes-on-dividends/L1jBC5OvB
What is Form 8995-A?
Form 8995-A is needed in some cases to report your qualified business income deductions.
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-form-8995-a/L0N1SP8vU
Filing Tax Form 1099-INT: Interest Income
If you receive a 1099-INT, the tax form that reports most payments of interest income, you may or may not have to pay income tax on the interest it reports. However, you may still need to include...
Dependent Tax Deductions and Credits for Families
Since 2017, there have been changes to many areas of taxation, including claiming dependents and the deductions and credits that go along with claiming them. Here's what to know about the depende...
https://turbotax.intuit.com/tax-tips/family/tax-exemptions-and-deductions-for-families/L0Nx5Tnxi
Best Investments for Boosting Your Tax Refund
If you're like most taxpayers, you're expecting a tax refund this year. The average refund amount for tax year 2020 was $3,100. If you want to boost your tax refund, consider investing in your re...
Charitable Contributions
Learn how to get the biggest tax savings when making charitable contributions of cash or checks, household goods, cars or appreciated property.
https://turbotax.intuit.com/tax-tips/charitable-contributions/charitable-contributions/L6ZyAXJ4Y
What Is FIRPTA Withholding?
You might have to withhold taxes from your payment to the seller if you buy real property in the U.S. from a foreign person.
https://turbotax.intuit.com/tax-tips/investments-and-taxes/what-is-firpta-withholding/c6itwc6Ju
Are Tips Taxable?
If you're a restaurant server, bartender, barista, or other employee who makes tips, you should understand how those tips fit into your taxes.
https://turbotax.intuit.com/tax-tips/jobs-and-career/how-to-claim-tips-on-your-tax-return/L2xnHeQvl
What Are Dependents?
Come tax season, even one dependent can really reduce the amount of your income subject to tax. Sounds good, right? Well hold on, the IRS requires that both you and the dependent meet all eligibi...
https://turbotax.intuit.com/tax-tips/family/what-are-dependents/L951ZvVUb
7 Tax Advantages of Getting Married
There are many good reasons to get married?true love and compatibility being among the best. Here are 7 tax advantages of getting married and tips for making the extended honeymoon a little sweet...
https://turbotax.intuit.com/tax-tips/marriage/7-tax-advantages-of-getting-married/L1XlLCh0m
Managing Your Retirement Account and Taxes During Economic Uncertainty
In times of economic uncertainty, you might start to notice some alarming changes to your retirement account. It's usually unwise to panic and withdraw early, even if the temptation is strong.
IRS Tax Rules for Imputed Interest
Lend someone money at zero interest, and you don't make any profit from the deal. Therefore, you might assume that the loan doesn't have any tax implications for you. In many cases, though, you'd...
https://turbotax.intuit.com/tax-tips/tax-payments/irs-tax-rules-for-imputed-interest/L7UbulHpC
What is the Work Opportunity Tax Credit (WOTC)?
The work opportunity tax credit (WOTC) is generally worth 40% of the first $6,000 of wages paid to workers who are members of certain targeted groups.
Didn't Get a 1099? Non-1099 Rideshare Driver Tax Tips
All rideshare drivers must report their income to the IRS whether or not they receive a 1099-K or 1099-MISC from the companies they are working for. Here are tips on how to report your rideshare ...
Do the Math: Understanding Your Tax Refund
For most people, tax is collected by an employer at a rate that estimates your tax for the year. Your actual earnings and the deductions that you?re allowed to claim might cause you to pay too mu...
https://turbotax.intuit.com/tax-tips/tax-refund/do-the-math-understanding-your-tax-refund/L0SfgJGEq
Estates and Trusts - Questions and Answers
Did you receive a payment or other property from an estate or trust during the year? If so, here's what you need to know about how it affects your taxes.
https://turbotax.intuit.com/tax-tips/estates/estates-and-trusts/L9f1Fywy8
What Is the American Opportunity Tax Credit?
The American opportunity credit allows taxpaying students or their parents the opportunity to reduce the cost of attending college. The credit typically offers greater tax savings than other educ...
Key Tax Tips When Filing for Divorce or Separation
Going through the process of divorce or separation is a trying time for any couple. Between dividing up property, legal proceedings and handling child custody, many people can forget the tax impl...
8 Common Life Events That Affect Your Taxes
If one thing in life is certain, it's that your taxes will never stay static. Events in your own life as well as frequent adjustments by legislation can be cause for either increasing or decreasi...
What Is the IRS Form 1099-MISC?
Form 1099-MISC reports payments other than nonemployee compensation made by a trade or business to others. This article answers the question, "What is the 1099-MISC form?" after the reintroductio...
https://turbotax.intuit.com/tax-tips/self-employment-taxes/what-is-the-irs-form-1099-misc/L4wLb4bej
Can I Write Off Credit Card Interest on My Taxes?
You're allowed to take a tax deduction for some types of interest payments. Can I write off credit card interest on my taxes?
Electric Car Tax Credit: What is Form 8834?
Do you qualify for the electric car tax credit? Learn how Form 8834 can help you reap the tax benefits if you?ve purchased or used an electric car in a previous tax year.
The Home Office Deduction
An unprecedented number of workers and businesses have transitioned to a work-from-home model. If you work from home, you should know these important tax implications of setting up a home office.
https://turbotax.intuit.com/tax-tips/small-business-taxes/the-home-office-deduction/L1RZyYxzv
What is IRS Form 1040 Schedule 6?
1040 Form Schedule 6 only applies to tax year 2018. After 2018, you?ll only need to fill out Form 1040.
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-irs-form-1040-schedule-6/L7Ixq4ncn
A Tax Guide for U.S. Immigrants
One of the most significant learning curves immigrants must climb is the U.S. tax system. Fortunately there are a few key points that can make the filing process easier.
Identity Theft: What to Do if Someone Has Already Filed Taxes Using Your Social Security Number
If someone uses your information to file a fraudulent tax return, the person is looking to get your tax refund. You'll want to work with the IRS as soon as you discover the identity theft to ensu...
Charitable Contributions You Think You Can Claim but Can't
Knowing what you can and can't claim as charitable contributions helps you maximize the potential tax savings that the charitable tax deduction offers.
Reporting Self-Employment Business Income and Deductions
Self-employed taxpayers report their business income and expenses on Schedule C. TurboTax can help make the job easier.
How Does Your Charitable Giving Measure Up?
Giving is truly better than receiving, especially when your generosity can provide income tax benefits.
Strategies for Managing Your Tax Bill on Deferred Compensation
Deferred compensation refers to money received in one year for work performed in a previous year ? often many years earlier. Typically, you receive deferred compensation after retiring or leaving...
What is Form 1095-B: Health Coverage
Form 1095-B is a tax form that reports the type of health insurance coverage you have, any dependents covered by your insurance policy, and the period of coverage for the prior year. This form is...
https://turbotax.intuit.com/tax-tips/health-care/what-is-form-1095-b-health-coverage/L0jqu5ejD
Do You Have to Claim Pell Grant Money on Your Taxes?
The IRS treats a Pell grant as a scholarship, which means it's possible that you'll have to report the grant money on your tax return and maybe even pay income tax on the money.
The Self-Employment Tax
Have you started your own business, freelance, or work as an independent contractor? Then get ready to pay the self-employment tax, which is a tax you never had to pay as an employee. The self-em...
https://turbotax.intuit.com/tax-tips/self-employment-taxes/the-self-employment-tax/L8xXjolB4
Starting a New Startup Business
When you launch a startup, knowing the tax implications of your actions and decisions can save you money and make tax time a breeze. Learn about accounting methods for your startup, paying estima...
https://turbotax.intuit.com/tax-tips/small-business-taxes/starting-a-new-startup-business/L8VrV4KZb
Maximizing Tax Deductions for the Business Use of Your Car
The business use of your car can be one of the largest tax deduction you can take to reduce your business income. This is a big, big deal. Why two ?bigs?? Because your business income is used to ...
The Dirty Dozen: 12 Tricky Tax Dependent Dilemmas
Knowing when someone qualifies as a dependent on your tax return can be trickier than it seems. These 12 examples help clear up the confusion about who you can and can't claim as a dependent on y...
What Happens When You Don't File a 1099?
Learn about what happens if you forget to file a 1099. See how to fix mistakes, amend your return, and avoid potential issues with the IRS.
Tax Aspects of Home Ownership: Selling a Home
Though most home-sale profit is now tax-free, there are still steps you can take to maximize the tax benefits of selling your home. Learn how to figure your gain, factoring in your cost basis, ho...
9 Things You Didn't Know Were Tax Deductions
Few realizations are more painful than realizing that you forgot to include a tax deduction that would have lowered your tax bill or increased your tax refund on your tax return. Here are some ta...
https://turbotax.intuit.com/tax-tips/fun-facts/9-things-you-didnt-know-were-tax-deductions/L6M1dynSH
When to Use Tax Form 1099-C for Cancellation of Debt
In most situations, if you receive a Form 1099-C from a lender after negotiating a debt cancellation with them, you'll have to report the amount on that form to the Internal Revenue Service as ta...
An Early Withdrawal From Your 401(k): Understanding the Consequences
Cashing out or taking a loan on your 401(k) are two viable options if you're in need of funds. But, before you do so, here's a few things to know about the possible impacts on your taxes of an ea...
When Married Filing Separately Will Save You Taxes
If you're married, there are circumstances where filing separately can save you money on your income taxes.
What Is the Difference Between AGI and MAGI on Your Taxes?
Your adjusted gross income, or AGI, is an important line item on your taxes, as it affects your eligibility for certain tax benefits. The same is true of your modified adjusted gross income, or M...
When to Use Tax Form 1099-R: Distributions From Pensions, Annuities, Retirement, etc.
Form 1099-R is used to report the distribution of retirement benefits such as pensions and annuities. You should receive a copy of Form 1099-R, or some variation, if you received a distribution o...
Tax Tips for Employees Who Work at Home
Since the 2018 tax reform, at-home expense deductions for employees have been reduced but remain for self-employed workers.
Deducting Summer Camps and Daycare with the Child and Dependent Care Credit
If you paid a daycare center, babysitter, summer camp, or other care provider to care for a qualifying child under age 13 or a disabled dependent of any age, you may qualify for a tax credit of u...
¿Qué documentos debo llevar a mi preparador de declaraciones impuestos?
Ya sea que prepares los impuestos por tu cuenta o los hagas con la ayuda de un preparador de impuestos en línea o en un establecimiento, conocer qué documentos necesitas te ayudará a evitar er...
How Much Do You Have to Make to File Taxes?
Learn how your age, filing status, types of income, and even state of residence can influence whether or not you need to file an income tax return.
Cómo deducir las primas de seguro médico si trabajas por cuenta propia
La mayoría de los contribuyentes que trabajan por cuenta propia pueden deducir las primas de seguro médico, incluidas las primas por edad para la cobertura de atención a largo plazo. Si cumple...
Las cinco razones principales para ajustar las retenciones del Formulario W-4
Los cambios de estilo de vida habituales, como conseguir un trabajo o casarte, pueden modificar tu responsabilidad fiscal. Para que no te sorprendas al recibir facturas de impuestos inesperadas o...
¿Qué es un formulario de impuestos Anexo K-1?
El Anexo K-1 varía ligeramente dependiendo de si es un fideicomiso, una sociedad colectiva o una sociedad anónima de tipo S. Aprende a usar este formulario de impuestos para que puedas reportar...
What Is the Minimum Monthly Payment for an IRS Installment Plan?
Can't afford to pay your income taxes? You may be able to qualify for an installment plan with the Internal Revenue Service. The minimum monthly payment for your plan depends on how much you owe.
Wash Sale Rule: What Is It, How Does It Work, and More
The wash sale rule prevents investors from claiming tax deductions on securities sold at a loss and then quickly bought again.
What to Do After You've Filed an Income Tax Extension
No matter how or when you file your taxes, here's a guide to next steps.
Top 5 Reasons to Adjust Your W-4 Withholding
Using Form W-4 to adjust your federal income tax withholding will help you avoid extra withholding throughout the year and avoid a large tax bill at tax time.
What is the PATH Act and How May it Impact Your Taxes?
If your tax refund was held up because you claimed the child tax credit or earned income tax credit, blame the PATH Act for the delay.
Tuition and Fees Deduction for Higher Education
The Tuition and Fees Deduction was extended through the end of 2020. It allows you to deduct up to $4,000 from your income for qualifying tuition expenses paid for you, your spouse, or your depen...
https://turbotax.intuit.com/tax-tips/college-and-education/deduction-for-higher-education/L0krerdUK
Is Your Life Insurance Taxable?
Is life insurance taxable? Normally, no, but some exceptions do exist. Here?s what to know if your loved ones are counting on that financial support in the event the worst comes to pass.
https://turbotax.intuit.com/tax-tips/general/is-your-life-insurance-taxable/L0GiBZdB6
The Musician's Guide to Taxes: Top Tax Deductions
The chance to be creative?and the opportunity to be your own boss?makes working as a musician exciting. Here are some of the top business deductions and expenses for self-employed musicians, as w...
The Top Tax Myths (and What Happens When You Believe Them)
There?s a lot of misinformation out there about filing taxes, and blindly following someone else?s bad tax advice could get you into hot water. Here are 10 of the most common tax myths?and what y...
Deducting Mortgage Interest FAQs
If you're a homeowner, you probably qualify for a deduction on your home mortgage interest. The tax deduction also applies if you pay interest on a condominium, cooperative, mobile home, boat or ...
https://turbotax.intuit.com/tax-tips/home-ownership/deducting-mortgage-interest-faqs/L4a9KF9mI
Taxes in Retirement: 7 Tax Tips for After You Retire
You have several options when it comes to maximizing your savings and tax benefits in retirement.
https://turbotax.intuit.com/tax-tips/retirement/tax-tips-after-you-retire/L6DBVFZ25
FICA and Withholding: Everything You Need to Know
In order to ensure you're filing your taxes correctly, it's crucial to understand everything that goes into them and how your money is affected with each paycheck. For starters, what exactly is F...
Are GI Benefits Considered Income on Your Tax Return?
If you're a service member or a veteran with an honorable discharge, the GI Bill may provide funding to help with college costs. The benefits can add up to thousands of dollars that you do not ...
What Are IRS Publications?
IRS publications provide answers on nearly every tax topic you're likely to face.
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-are-irs-publications/L2MuNEZLN
What Is "Cafe 125" on a W-2 Tax Form?
You might be confused to see "Cafe 125" listed on your W-2 form. This may sound like it has something to do with where you go on your lunch break, but there is a more reasonable explanation. "Caf...
https://turbotax.intuit.com/tax-tips/jobs-and-career/what-is-cafe-125-on-a-w-2-tax-form/L8HzRmnT6
Top Tax Deductions for Consultants
Consultants are likely to have deductible business expenses that can help you save big on your taxes. A checklist can help you account for every deduction you?re entitled to use. Here are the top...
Tax Deductions for Conservation Easements of Property
Under a conservation easement, a property's owner gives up the right to make certain changes to that property, to preserve it for future generations. Such an easement usually limits the usefulnes...
Federal Guidelines for Garnishment
The IRS can garnish your wages if back taxes are owed, but they must follow stringent guidelines.
https://turbotax.intuit.com/tax-tips/tax-payments/federal-guidelines-for-garnishment/L2vEyLgpc
How to Use Work Clothes as a Tax Deduction
If you have to buy a smart new suit for your paralegal job or uniforms for your National Guard duties, it might seem these are obvious work expenses and valid tax deductions. Not necessarily, acc...
What Does It Mean that Taxes Are Voluntary?
In the United States, it isn't the payment of tax that's voluntary. Rather, it's the manner in which people submit their own taxes.
https://turbotax.intuit.com/tax-tips/general/what-does-it-mean-that-taxes-are-voluntary/L5cjhVlhh
Essential Tax Forms for the Affordable Care Act (ACA)
The Affordable Care Act (ACA), also referred to as Obamacare, affects how millions of Americans will prepare their taxes in the new year. The Internal Revenue Service (IRS) has introduced a numbe...
10 Tax Tips for Filing an Amended Return
Say you happily filed your tax return by the end of February and were the envy of all your friends, but in June you realized you forgot to include income from last summer's freelance job. Don?t w...
https://turbotax.intuit.com/tax-tips/amend-return/10-tax-tips-for-filing-an-amended-return/L2Tt29kwj
Tax Deductions 2023: What?s New or Changed
Changes to various 2023 tax deductions can lower your taxable income and cut your tax bill.
Video: Filing Taxes After the Deadline
Have you missed the deadline for taxes, or is it fast approaching? There is still hope. Watch this video to find out about filing your taxes after the deadline.
What is the Premium Tax Credit (PTC) and What is Tax Form 8962?
The premium tax credit took effect beginning in the 2014 tax year, and provides tax savings to offset the cost of health insurance, for those who qualify.
https://turbotax.intuit.com/tax-tips/health-care/what-is-the-premium-tax-credit/L6gAHB5ld
How To Do Your Back Income Taxes
Many taxpayers fail to file a return even when required to do so. Your obligation to file these returns never goes away, but catching up may be easier than you think.
https://turbotax.intuit.com/tax-tips/general/how-to-do-your-back-income-taxes/L837UUNAe
What Are Income Tax Forms?
Income tax forms are the official government documents you're required to fill out when you pay your taxes.
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-are-income-tax-forms/L7CPkP58u
What Is IRS Form 8839: Qualified Adoption Expenses?
The Internal Revenue Service allows you to offset your tax bill with a credit for your qualified adoption expenses, as long as you meet certain eligibility requirements. To report your qualified ...
Working at Home
If you work from home, you need to know how to qualify for the home office deduction, pay self-employment taxes and understand which business expenses you can take deduct.
https://turbotax.intuit.com/tax-tips/self-employment-taxes/working-at-home/L2kGqScuu
How to Estimate Property Taxes
There are a number of fundamental property tax concepts you should be aware of that can help you calculate your property taxes.
https://turbotax.intuit.com/tax-tips/home-ownership/how-to-estimate-property-taxes/L2iVDmhrR
How to Pay Taxes: 10 Ways to Pay Your Tax Bill
You know you owe taxes, but you may not be aware of all the available options for getting that money to the IRS.
What is Form 2210?
In the U.S., federal income taxes are a "pay-as-you-go" system, meaning you're required to pay taxes as you earn income throughout the year by having them withheld from your paycheck or by making...
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-form-2210/L2z0haVWb
Filing Tax Returns for Delivery Drivers: Tips and Advice
Whether you?re just starting out or have been in the field for a while, being a delivery driver comes with its own nuances when it?s time to file your taxes. Here are four steps to help guide you...
Top Tax Write-offs for the Self-Employed
Whether you do contract work or have your own small business, tax deductions for the self-employed can add up to substantial tax savings.
Energy Tax Credit: Which Home Improvements Qualify?
Two tax credits for renewable energy and energy efficiency home improvements have been extended through 2034 and expanded starting in 2023.
What is Form 1099-NEC?
Learn about the 1099-NEC, who needs to file, penalties for late filing, and its role in preparing your tax return.
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-form-1099-nec/L5fbwIFSn
Every Tax Deadline You Need To Know
Make sure your calendar?s up-to-date with these tax deadlines, dates, possible extensions and other factors in play for both individuals and businesses in 2023.
How to Find Your Adjusted Gross Income (AGI) to E-file Your Tax Return
Your adjusted gross income (AGI) is an important number come tax time, especially if you're planning to e-file. Not only does it impact the tax breaks you?re eligible for?your AGI is now also a k...
Form W-9 - What Is It and How Is It Used?
Form W-9 is a commonly used IRS form for providing necessary information to a person or company that will be making payments to another person or company. One of the most common situations is whe...
When Does a Senior Citizen on Social Security Stop Filing Taxes?
The IRS typically requires you to file a tax return when your gross income exceeds the Standard Deduction for your filing status. These filing rules still apply to senior citizens who are living ...
2023 and 2024 Child Tax Credit: Top 7 Requirements
The Child Tax Credit can significantly reduce your tax bill if you meet all seven requirements: 1. age, 2. relationship, 3. support, 4. dependent status, 5. citizenship, 6. length of residency an...
https://turbotax.intuit.com/tax-tips/family/7-requirements-for-the-child-tax-credit/L3wpfbpwQ
What Is an IRS 1099 Form?
Learn about the IRS 1099 Form: See what it's for, who gets it, how to fix mistakes, the different kinds, and why e-filing makes it easier.
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-an-irs-1099-form/L3NxSPMUe
How Long Does It Take To Get My Tax Refund?
Want to know how long it takes to get a tax refund? Learn all about the IRS Refund Schedule and how long it takes for your tax refund to hit your bank.
How Should You and Your Spouse File Taxes? Married Filing Jointly vs Separately
Deciding on married filing jointly vs separately? Learn the pros, cons, and tax savings for both to make the best choice for your situation.
Income Tax by State: Which Has the Highest and Lowest Taxes?
Get a detailed overview of how income tax varies by state. Learn which states have the highest and lowest taxes and how this impacts your finances.
https://turbotax.intuit.com/tax-tips/fun-facts/states-with-the-highest-and-lowest-taxes/L6HPAVqSF
Can I File an Income Tax Return If I Don't Have Any Income?
Any year you have minimal or no income, you may be able to skip filing your tax return and the related paperwork. Before you decide to skip your return this year, consider whether it might be wor...
What is Bracket Creep?
When you earn more money, bracket creep can push you into a higher tax bracket. This could reduce your actual income due to increased tax liability.
https://turbotax.intuit.com/tax-tips/general/what-is-bracket-creep/c9esRHSsY
Can I Deduct Legal Fees on My Taxes?
With recent changes to the tax laws and adjustments to what counts as being deductible or not, you might be wondering if you're able to deduct any of your legal fees. Follow our guide to determin...
10 Tax Tips for the Suddenly Unemployed
If you are facing unexpected unemployment, you may be eligible for a variety of income tax benefits. Losing a job is always hard, but these tax tips should help you maximize your tax refund.
https://turbotax.intuit.com/tax-tips/unemployment/10-tax-tips-for-the-suddenly-unemployed/L04q9otu5
What is IRS Form SS-4? A Step-by-Step Guide to Getting an EIN
Explore what IRS Form SS-4 is, why it's important, and how to fill it out correctly to get your Employer Identification Number (EIN).
Pasos para reclamar a tus padres de edad avanzada como dependientes
Si cuidaste a uno de tus padres de edad avanzada, es posible que califique como tu dependiente, lo que generará beneficios tributarios adicionales para ti.
How to Find a Good CPA for Your Taxes
Finding a good CPA for taxes takes effort. Learning how to pick a CPA can be made easier by applying useful tips and considering what you want out of a CPA.
https://turbotax.intuit.com/tax-tips/tax-pro/how-to-find-a-good-cpa-for-your-taxes/L0cNUmy2Y
Fatten Your Paycheck and Still Get a Tax Refund
If you usually get a tax refund, but would like to start putting more money in your pocket every month, we can help. Yes, you still have to fill out a W-4 form. But we've developed a quick and ea...
Ways to Increase Your Tax Refund You Never Thought About
Laying the groundwork for a tax refund requires some simple tax planning, a little research and some forethought. Reviewing your tax status, consulting your spouse when filling out your W-4s and ...
What Is a 1099-G Tax Form?
The most common uses of the 1099-G is to report unemployment compensation, as well as any state or local income tax refunds you received that year.
https://turbotax.intuit.com/tax-tips/unemployment/what-is-a-1099-g-tax-form/L8j3PjezG
Form 7206: New Self-Employed Health Insurance Deduction
Form 7206 is the newly introduced IRS form that self-employed taxpayers use to figure their deduction for health insurance costs.
How to File Federal Income Taxes for Small Businesses
Depending on your business type, there are different ways to prepare and file your taxes.
Estimated Taxes: How to Determine What to Pay and When
We'll make it easy for you to figure out if you have to pay estimated taxes and if so, how much.
Guide to Tax Form 1098-T: Tuition Statement
Eligible colleges or other post-secondary institutions send Form 1098-T to students who paid "qualified educational expenses" in the preceding tax year. Qualified expenses include tuition, any fe...
Guide to Unemployment and Taxes
The IRS considers unemployment compensation to be taxable income that you'll need to report on your federal tax return. State unemployment divisions issue an IRS Form 1099-G to each individual wh...
https://turbotax.intuit.com/tax-tips/unemployment/guide-to-unemployment-and-taxes/L1uajNdHD
Setting Up a Home Office
Follow these easy steps to set up a home office that complies with IRS requirements. Then, claim your home office deduction with peace of mind.
https://turbotax.intuit.com/tax-tips/small-business-taxes/setting-up-a-home-office/L52go3hc0
Tax Counseling for Seniors and the Elderly
Besides the 1040-SR form, seniors have special options available to file and pay their taxes. Here's a guide to tax counseling for the elderly.
https://turbotax.intuit.com/tax-tips/family/tax-counseling-for-seniors-and-the-elderly/L9UE0I5QM
Taxes for Grads: Do Scholarships Count as Taxable Income?
College scholarships provide significant help to students. But, do scholarships count as taxable income? It depends on how they?re used.
What is IRS Form 1040 Schedule 4?
Form 1040 Schedule 4 is no longer used for current tax returns, but you may need to fill out this form if you?re completing a tax return for tax year 2018.
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-irs-form-1040-schedule-4/L3spyUufC
How to Pay Employer Federal Taxes
As an employer, there are a number of federal taxes you need to pay that relate to your employees.
What is IRS Form 1040 Schedule 2?
This article will explain which taxpayers might need to complete a Schedule 2 and offer guidance on how to fill out this form.
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-irs-form-1040-schedule-2/L7Mevej2g
Tax Topic 152: Will I Still Get My Tax Refund?
Tax topics are a system the IRS uses to organize tax returns and share information with taxpayers. Here's what it means if you receive a message about Tax Topic 152.
Standard Deduction vs. Itemized Deductions: Which Is Better?
The pressure of a looming tax deadline may make it easier to take the standard deduction rather than itemize your deductions, but you should weigh this question carefully. Here are a few key area...
What is Excise Tax?
Learn how an excise tax works, how this tax may apply to you as a consumer or small business, and the tax form you need to use to remit federal excise taxes.
https://turbotax.intuit.com/tax-tips/small-business-taxes/what-is-excise-tax/L4IHXjMJb
How the PATH Act Benefits Small Business Owners
Small businesses create jobs and help drive economic growth, and they can improve their bottom line at tax time under the Protecting Americans from Tax Hikes (PATH) Act that was passed in 2015. R...
What Are Tax Brackets?
The United States uses a progressive tax system, which means different portions of your income are taxed at different rates and that typically the more taxable income you have the higher the tax ...
https://turbotax.intuit.com/tax-tips/irs-tax-return/what-are-tax-brackets/L8jeM6XaJ
Claiming a Domestic Partner as a Dependent
Most people claimed as dependents are children or other relatives. However, you may also be able to claim an unrelated dependent, such as a domestic partner.
https://turbotax.intuit.com/tax-tips/family/claiming-a-domestic-partner-as-a-dependent/L2EGb24N1
What Is a Schedule C IRS form?
If you are self-employed, it's likely you need to fill out an IRS Schedule C to report how much money you made or lost in your business. Freelancers, contractors, side-giggers and small business ...
https://turbotax.intuit.com/tax-tips/self-employment-taxes/-what-is-a-schedule-c-irs-form/L7v0iDelI
Do VA Benefits Count as Medical Insurance Coverage Under Obamacare?
The Affordable Care Act, often referred to as Obamacare or the ACA, requires most Americans to have health insurance coverage. Those without coverage must pay a penalty when they file their taxes...
Tax Tips for Selling Your Handmade Items Online
Given the success of the online, handmade marketplace Etsy, sites like HandMade at Amazon are giving more people the opportunity to sell their handmade creations online than ever before. In addit...
What Are the Tax Penalties for Smokers?
The requirement for minimum essential coverage (MEC) under the Affordable Care Act was in place for tax years 2014 through 2018 and applied to smokers and nonsmokers alike.
https://turbotax.intuit.com/tax-tips/health-care/what-are-the-tax-penalties-for-smokers/L0Zc0O1Sk
What is Form 8919: Uncollected Social Security and Medicare Tax on Wages
Your employment status has a significant impact on the employment tax you pay and on the amount that an employer pays on your behalf. When an employee is misclassified as an independent contracto...
Tax Tips for Preferred Stock
All corporations issue stock, which typically gives stockholders a share of ownership in the company, certain voting rights and the often the opportunity to receive dividends, or distributions of...
https://turbotax.intuit.com/tax-tips/investments-and-taxes/tax-tips-for-preferred-stock/L6gOMKT1W
9 States with No Income Tax
Nine states do not have a state income tax, but they have other revenue generating programs that can affect your tax bill.
https://turbotax.intuit.com/tax-tips/fun-facts/9-states-with-no-income-tax/c9RZgthD3
IRS Form 8879: How to E-file Your Tax Return Through a Tax Professional
Filing taxes online through a tax professional? IRS Form 8879 allows for the electronic submission of your tax return without the need for a physical signature.
Missing your Tax Refund Payment? File Form 3911
Filing a tax return and haven't received your refund? Learn how Form 3911 can help track your payment and what steps to take to get your refund issue resolved.
Video: Tax Tips to Help Investors Save Money
CPA and TurboTax tax expert Lisa Greene-Lewis offers advice to help you navigate the investment income and losses on your taxes.
https://turbotax.intuit.com/tax-tips/videos/video-tax-tips-to-help-investors-save-money/c8UERz5Nl
Video: Tax Savings For Selling A Home
Lisa Greene-Lewis, TurboTax tax expert and CPA, discusses how to whittle down capital gains taxes when selling a home.
https://turbotax.intuit.com/tax-tips/videos/video-tax-savings-for-selling-a-home/c5Lh4ZNEX
Video: Tax Tips for Rental Property Income
Whether you rent out a property long-term or short-term, there are lots of tax deductions that can save you money. Lisa Greene-Lewis, TurboTax expert and CPA, explains.
https://turbotax.intuit.com/tax-tips/videos/video-tax-tips-for-rental-property-income/c4d8hi9vQ
Video: How Inflation Adjustments Affect Your Taxes
The IRS has made some pretty big inflation adjustments in 2023, affecting the standard deduction, marginal tax rate and more. Lisa Greene-Lewis, TurboTax tax expert and CPA, explains.
Deducción estándar vs. deducciones detalladas: ¿cuál es mejor?
Casi el 90 % de los contribuyentes reclama la deducción estándar frente a las deducciones detalladas. Para la próxima declaración de impuestos que se avecina, ¿deberías reclamar de la misma...
¿Qué es el Formulario 1099-MISC del IRS?
El Formulario 1099-MISC reporta pagos a terceros distintos a la compensación para personas que no son empleados por una actividad comercial o empresa.
https://turbotax.intuit.com/tax-tips/en-espanol/que-es-el-formulario-1099-misc-del-irs/c8foAvuGL
Choose How Your Business is Taxed: IRS Form 8832
Different business structures have distinct tax benefits and obligations. If you want to change your business's tax status, you'll need to file IRS Form 8832.
Crédito Tributario por Energía: ¿qué mejoras en el hogar califican?
Hay dos créditos tributarios para energía renovable y mejoras de eficiencia energética en la vivienda que se prorrogaron hasta 2034 y se ampliaron a partir de 2023.
¿Los gastos médicos son deducibles de impuestos?
Los gastos médicos pueden ser deducibles de impuestos. Conoce qué gastos podrían ser deducibles en tu declaración de impuestos este año.
Is Tax-Efficient Investing Possible With Acorns, Betterment, Stash, and Robinhood?
No matter the investment platform, if you recognize gains, receive dividends, or earn investment income from investments, you'll still need to pay your share of taxes. Learn more about the tax tr...
How Do I Estimate the Value of My Donated Car for My Tax Deduction?
Deducting your car donation can save you a significant amount of income tax.
Tax Tips for Uber, Lyft, and Other Car Sharing Drivers
When you're a driver for a ridesharing company such as Uber, Lyft, or other car sharing service, the most important thing to understand about your taxes is that you are probably not an employee o...
How to Spend, Save, or Stretch Your Tax Refund
Looking forward to a large refund? That might mean your withholding is too high.
Tax Deductions for Voluntary Interest Payments on Student Loans
Most taxpayers who pay interest on student loans can take a tax deduction for the expense?and you can do this regardless of whether you itemize tax deductions on your return. The rules for claimi...
Will Medicare/Medicaid be Impacted by ACA?
The Affordable Care Act put in place significant tax-related programs that impact Medicare and Medicaid, such as increased Medicare taxes on earned and unearned income for high-wage earners, and ...
https://turbotax.intuit.com/tax-tips/health-care/will-medicare-medicaid-be-impacted-by-aca/L11RbMzg5
10 Steps to Avoiding Tax-Return Identity Theft
Someone who steals your identity for tax purposes is probably not intending to pay your back taxes for you. He or she is after your tax refund. Make sure your refund ends up in your hands and not...
Tax Tips for Job Hunters
Looking for a new job can feel like a job in itself. It takes a lot of time and energy, but there are certain tax implications you should be aware of as you conduct your search. Here are six tax ...
https://turbotax.intuit.com/tax-tips/unemployment/tax-tips-for-job-hunters/L1TnQpipt
IRA Tax Benefits: Taxes on Retirement vs. Non-Retirement Accounts
Compare the benefits and tax implications of retirement and non-retirement accounts so you can choose the best option for your financial planning.
Tax Tips for Part-Time Workers
Some people work part time because they can't find a full-time job. Others choose to work part time because they are a student or are self-employed. Whatever your situation, there are some simple...
https://turbotax.intuit.com/tax-tips/jobs-and-career/tax-tips-for-part-time-workers/L94EMw3j8
Information on 529 Plans
A 529 plan can help you save money for college and grow those savings faster?plus it offers tax benefits that other college savings methods do not.
https://turbotax.intuit.com/tax-tips/college-and-education/information-on-529-plans/L0vrZiFuC
How to Maximize Your Itemized Tax Deductions
Since you can decide every year whether you want to take the standard deduction or itemize your deductions, careful tax planning can help you maximize your deductions in years you itemize.
Cómo presentar impuestos electrónicamente
Si tienes que presentar tus impuestos, la forma más sencilla es hacerlo electrónicamente
What Is Form 1099-DA and What Does It Mean for Crypto Investors?
Starting in 2025, the IRS will introduce Form 1099-DA dedicated to reporting crypto and digital assets.
What's the Difference Between Gross Income vs Net Income?
Learn the difference between gross vs net income, and how each affects your tax payments.
What is the Earned Income Credit? Find Out If You Qualify
While millions of households already claim this special break for workers with modest incomes, the IRS says many more are eligible for the credit but fail to take it. The rules were recently libe...
https://turbotax.intuit.com/tax-tips/tax-deductions-and-credits/earned-income-credit/L4lmLBNWa
How to File Taxes Online
Filing your taxes online can seem daunting, but with a little organization and preparation, you can file on time and with accuracy.
https://turbotax.intuit.com/tax-tips/general/how-to-file-taxes-online/L5RCRJQBs
Formulario W-9: ¿qué es y cómo se usa?
El Formulario W-9 del IRS (Servicio de Impuestos Internos) se suele usar para proporcionar información necesaria a una persona o empresa que hará pagos a otra persona o empresa. Uno de los caso...
https://turbotax.intuit.com/tax-tips/en-espanol/formulario-w-9-que-es-y-como-se-usa/c9kezU9UC
Uso comercial de vehículos
Si usas vehículos en tu pequeña empresa, la forma y el momento en que los deduces para uso comercial pueden tener importantes consecuencias tributarias. A continuación, aprenderemos todos los ...
https://turbotax.intuit.com/tax-tips/en-espanol/uso-comercial-de-vehiculos/c3gVR7HLw
Cómo presentar declaraciones de impuestos con el Formulario 1099-NEC del IRS
Cuando prestas servicios por un monto de $600 o más a una empresa, ese cliente, por lo general, debe emitir un Formulario 1099-NEC para informar sobre tus ganancias.
Crédito tributario federal por energía solar residencial
El Crédito por Energía Limpia Residencial que permite realizar actualizaciones de energía solar en tu hogar se extendió hasta 2034, y su valor se incrementó.
Video: Common Income Tax Deductions
Some common income tax deductions that can lower your annual taxes include mortgage interest, state and local property taxes, charitable contributions, and non-reimbursed work expenses. Find dedu...
Rules for Claiming Dependents on Taxes
Understand the IRS rules for claiming dependents on your taxes, who qualifies, and how it can save you thousands. Get clarity & maximize your tax benefits.
See Where Your Tax Dollars Go with Your Federal Taxpayer Receipt
Your Federal Taxpayer Receipt is a new tool that shows you where your tax dollars are being spent.
Top 9 Tax Law Changes for Your 2020 Taxes
Filing your 2020 taxes will be different due to some stimulus-related legislation and the usual inflation adjustments. Here are a few key tax law changes and other shifts that will affect your 20...
Top 10 Tax Deductions You're NOT Taking
You could be leaving hundreds of dollars on the table when you file your tax return this year. From magazines to medical insurance premiums, little-known tax deductions could make tax day a happi...
https://turbotax.intuit.com/tax-tips/fun-facts/top-10-tax-deductions-youre-not-taking/L2hRrmT9J
Maryland State Stimulus Checks
In February Maryland passed the The Maryland Recovery for the Economy, Livelihoods, Industries, Entrepreneurs, and Families (RELIEF) Act. Here's what you need to know.
https://turbotax.intuit.com/tax-tips/tax-relief/maryland-state-stimulus-checks/L4oC546fV
Video: Reasons Why My Tax Refund Is Not What I Expected
Is your tax refund less than you were hoping? TurboTax Tax Expert and CPA Lisa Green-Lewis is here to explain some reasons why you're seeing a lower refund.
Video: Taxes on Dividends Explained
If you purchase stock in a corporation or invest in a mutual fund that periodically pays dividends, the payments you receive throughout the year can provide you with some extra income. Watch this...
2020 Stimulus: Tax Relief for This Year's Taxes
Many taxpayers are feeling the impact of the COVID-19 pandemic on their everyday lives. But thanks to a number of changes to the tax laws, you could see some tax relief when you file your taxes.
Video: Tax Tips for Teachers
Teachers can claim certain deductions on their income taxes that aren't available to people in other professions. Find out about some of these tax tips with help from TurboTax.
https://turbotax.intuit.com/tax-tips/college-and-education/video-tax-tips-for-teachers/L7QoVPDek
Video: 5 Tax Deductions Commonly Overlooked
Tax filers often forget to file for credits and deductions they could claim. CPA and TurboTax tax expert Lisa Greene-Lewis is here for a review of what tax filers may have missed.
https://turbotax.intuit.com/tax-tips/videos/video-5-tax-deductions-commonly-overlooked/L7OAUrUgQ
What is the Paycheck Protection Program (PPP) Loan?
The Paycheck Protection Program loan provides up to eight weeks of financial assistance to small businesses that maintain their payroll during the COVID-19 pandemic. The loan is forgivable under ...
Understand and Avoid Health Care Reform Tax Penalties
The Affordable Care Act has brought new options for health care coverage to millions of previously uninsured Americans. While you can still choose not to purchase health insurance, that decision ...
Video: Unexpected Ways to Increase Your Tax Refund
There are a number of tax credits that can help you increase your tax refund. Lisa Greene-Lewis, CPA and TurboTax tax expert, provides a guide to unexpected savings.
Video: Deducting Mortgage Interest and Property Tax
If you itemize your deductions on Schedule A of your 1040, you can deduct the mortgage interest and property taxes you've paid.
State Tax Tips for Millionaires
If you happen be among this country's 1 percent of wealthiest Americans, you should be aware of a few tax rules that are helpful to those with your level of income.
https://turbotax.intuit.com/tax-tips/state-taxes/state-tax-tips-for-millionaires/L15HLnPCB
American Rescue Plan: What Does it Mean for You and a Third Stimulus Check
In January, President Biden proposed a $1.9 Trillion emergency coronavirus relief plan, called the American Rescue Plan. Get updated on the latest related news and information as it evolves in th...
Cities with the Lowest Tax Rates
The total amount of tax you pay reaches far beyond what you owe the federal government. Depending on where you live, most likely you're required to pay additional taxes, including property and sa...
https://turbotax.intuit.com/tax-tips/fun-facts/cities-with-the-lowest-tax-rates/L6M81IGQg
10 Misconceptions about the 2009 Stimulus
Note: The content of this article applies only to taxes prepared for 2009. It is included here for reference only.The 2009 stimulus package contains tax breaks for almost everyone. But with so ma...
https://turbotax.intuit.com/tax-tips/tax-relief/10-misconceptions-about-the-2009-stimulus/L9PaBvpDo
Video: When Are 2021 Taxes Due and Other Important Tax Deadlines
Join CPA and TurboTax tax expert Lisa Greene-Lewis for a review of the essential tax dates you need to know to stay on track.
https://turbotax.intuit.com/tax-tips/videos/tax-day-is-april-18-this-year/L7uL4oXSX
Small Business Break: Get a Refund of Taxes Paid in Previous Years
Note: The content of this article applies only to taxes prepared for 2009. It is included here for reference only. The Worker, Homeownership, and Business Assistance Act of 2009 (signed into law ...
Video: How to Find Your Tax Bracket
Finding the tax bracket you fall into will help you know how much money you have to pay in taxes each year. Find your tax bracket with help from TurboTax in this video clip. Note: The information...
https://turbotax.intuit.com/tax-tips/irs-tax-return/video-how-to-find-your-tax-bracket/L4R7kvOlr
Video: What Are Energy Tax Credits?
If you purchased an electric car or made eco-friendly improvements to your home this year, you may be eligible to reduce the amount of tax you owe by claiming one of the energy tax credits.
https://turbotax.intuit.com/tax-tips/home-ownership/video-what-are-energy-tax-credits/L5hbp299K
2020 Stimulus: Does My Small Business Qualify for an Economic Injury Disaster Loan (EIDL)?
Freelancers and self-employed business owners experiencing financial hardship due to Coronavirus (COVID-19) have the option to apply for an Economic Injury Disaster Loan (EIDL) ? a low-interest f...
Video: 10 Tax Tips for Crypto, Gen Z, Millennial Investors and More
Tax tips for new investors, crypto investors, Gen Z and millennial investors, and parents too! CPA and TurboTax Tax Expert Lisa Greene-Lewis explains what you need to know when filing taxes for t...
Reversing a Roth IRA Conversion
Under new rules that took effect in 2010, you can convert a traditional IRA into a Roth IRA no matter what your income is. If the conversion turns out to have adverse tax consequences, you'll hav...
https://turbotax.intuit.com/tax-tips/investments-and-taxes/reversing-a-roth-ira-conversion/L0yVOfwyZ
Tax Relief for Missouri Storm Victims
Anyone who has ever been involved in a natural disaster knows that it puts regular responsibilities (like filing taxes) on the back burner, often for a considerable period of time. The IRS is min...
https://turbotax.intuit.com/tax-tips/tax-relief/tax-relief-for-missouri-storm-victims/L1ee64MtV
Mississippi Storm Victims Tax Relief
As many as 14 tornadoes reportedly touched down in areas of Mississippi on December 23, 2015, accompanied by severe flooding and winds. As a result, in the first week of January, the Federal Emer...
https://turbotax.intuit.com/tax-tips/tax-relief/mississippi-storm-victims-tax-relief/L8thSda8W
America's Greenest States
See which states are "going green" by offering the most eco-friendly financial incentives and tax breaks.
https://turbotax.intuit.com/tax-tips/going-green/americas-greenest-states/L2DYTaklk
Tax Reform Impact: What You Should Know For 2019
Congress has passed the largest piece of tax reform legislation in more than three decades. The bill went into place on January 1, 2018, which means that it will affect the taxes of most taxpayer...
Tax Changes You Need to Know for 2017
Various tax changes inevitably occur from year to year. These can range from minor adjustments to the complete elimination of various tax provisions. The Internal Revenue Service has released inf...
Where?s My Third Stimulus Check?
The American Rescue Plan, a new COVID relief bill, includes a third round of stimulus payments for millions of Americans. Get updated on the latest information as it evolves.
https://turbotax.intuit.com/tax-tips/tax-relief/wheres-my-third-stimulus-check/L1CwQpro0
Inflation-Related Tax Law Changes for 2017
Many taxpayers will benefit from inflation-based adjustments to various deductions, credits and thresholds for the 2018 tax year. A number of changes went into effect. The most common effect is e...
What is Form 8903: Domestic Production Activities Deduction
Form 8903 is used to claim the Domestic Production Activities Deduction by small and large businesses. This deduction is intended to provide tax incentives for businesses that produce most of the...
What Is Form 8885: Health Coverage Tax Credit
The health coverage tax credit is a program in place for tax years from 2002 to 2013 and was later extended through 2019 to help eligible individuals and families by paying a portion of premiums ...
Video: Affordable Health Care Act Explained?Obamacare Facts
Watch a short video on the Affordable Care Act, also known as Obamacare, to see how the new health care law and health insurance marketplace affects you. Note: The content of this video is applic...
Video: Can I Deduct the Cost of a New Computer on My Taxes?
Can I deduct the cost of a new computer on my taxes? Maybe, if you are using it more than 50% of the time for business purposes.
Going Green? Top 4 Tax Breaks
Many people are choosing a greener lifestyle because it?s good for the planet, but did you know it can be good for your taxes too? Here?s a look at four things you can do to help ease your tax bu...
https://turbotax.intuit.com/tax-tips/going-green/going-green-top-tax-breaks/L2pQ25uGL
How to Handle a 2010 Inheritance
Note: The content of this article applies only to 2010. It is included here for reference only. Did your family inherit an estate in 2010? If so, you have a rare opportunity: You can opt to use e...
https://turbotax.intuit.com/tax-tips/estates/how-to-handle-a-2010-inheritance/L1AyZz1f8
Video: What Educational Expenses Are Tax Deductible?
Are you a student in an educational institution, or do you claim a student as a dependent who is one? The federal government supports higher education, offering many deductions for education-rela...
New Making Work Pay Credit Increases Your Take-Home Pay
Note: The content of this article applies only to taxes prepared for 2010. The key tax cut in the massive stimulus plan signed into law by President Obama is a tax credit that's worth $400 for a ...
Video: Most Important Changes for Tax Year 2022
With the tax deadline quickly approaching, Lisa Greene-Lewis, CPA and TurboTax tax expert, outlines the biggest tax changes you need to know before filing.
https://turbotax.intuit.com/tax-tips/videos/video-most-important-changes-for-tax-year-2022/L0pDM26Cf
What Is the Individual Shared Responsibility Provision?
The individual shared responsibility provision lies at the heart of the Affordable Care Act?the 2010 health care law sometimes referred to as Obamacare. This is the provision that requires Americ...
Are My State Tax Deadlines Extended Due to the Coronavirus?
The IRS delayed many of the filing and payment deadlines for the 2020 federal tax year due to the coronavirus pandemic. States don't have to follow the IRS's lead but many have. Find out if your ...
California Golden State Stimulus
California has signed the Golden State Stimulus, which includes $600-$1200 cash payments to eligible residents. Use the below guide to learn more about eligibility and other important topics.
https://turbotax.intuit.com/tax-tips/tax-relief/california-golden-state-stimulus/L7BDXcYPD
Video: Take Advantage of These Major Energy Tax Credits
Investing in alternative energy can provide significant tax breaks. Lisa Greene-Lewis, CPA and TurboTax tax expert, explains what it means for your taxes.
The Truth About Second-Chance Rebates
Note: The content of this article applies only to taxes prepared for 2008. It is included here for reference only. You might be hearing a lot about "second-chance rebates" and wondering if you qu...
https://turbotax.intuit.com/tax-tips/tax-relief/the-truth-about-second-chance-rebates/L8Tlq5s5x
Tax Reform Changes That Impact Your 2019 Taxes
With all of the buzz about the new Tax Reform many taxpayers are questioning how this will affect their 2018 tax return. These provisions kicked in on January 1, 2018, which means that they will ...
Video: Tax Refund Less Than Expected? Here's Why
CPA and TurboTax tax expert Lisa Greene-Lewis joins TheStreet to review some of the reasons why your tax refund might not match your expectation.
https://turbotax.intuit.com/tax-tips/videos/video-tax-refund-less-than-expected-heres-why/L5dmSBXVR
Video: Unemployment and Taxes Explained
If you experience a period of unemployment or are currently unable to find work, the last thing you're probably thinking about is your taxes. But since you still need to file a tax return, you ma...
https://turbotax.intuit.com/tax-tips/unemployment/video-unemployment-and-taxes-explained/L8ZeD7KkD
Stimulus 2021: Self-Employed Tax Credits and Social Security Tax Deferrals Available During COVID-19
If you're self-employed, the coronavirus (COVID-19) pandemic is likely impacting your business. Here's what tax relief is available under the major coronavirus relief legislation packages.
Are Losses on a Roth IRA Tax Deductible?
When the value of your investments in a Roth IRA (Roth Individual Retirement Account) decreases, you might wonder if there is a way to write off those losses on your federal income tax return. Fi...
Cities with the Highest Tax Rates
Much ado is made in the press about federal tax brackets, but cities can carry a tax bite of their own. Even if you live in a state that has no income tax, your city may levy a variety of taxes t...
https://turbotax.intuit.com/tax-tips/fun-facts/cities-with-the-highest-tax-rates/L2WEdS802
Cash for Clunkers: Don't Overlook Sales Tax Break
The popular Cash for Clunkers program came to a screeching halt on Aug. 24. If you bought a new vehicle under the government's economic-stimulus program, you could get yet another stimulus benefi...
What Is the IRS Form 5405?
Note: The content of this article applies only to taxes prepared for 2010. It is included here for reference only. To claim the homebuyer's tax credit for 2010, you will need to file IRS Form 540...
https://turbotax.intuit.com/tax-tips/home-ownership/what-is-the-irs-form-5405/L0HKlpXXx
Video: What Are Itemized Tax Deductions?
Itemized tax deductions can help save you even more money during tax season if your deductions exceed the standard amount. Learn about itemizing your tax deductions with help from TurboTax in thi...
What is Payroll Tax Relief and When Does It Apply?
If you?re self-employed, payroll tax relief and other parts of the CARES Act will have an impact on your 2020 taxes.
What is the Shared Responsibility Payment?
The federal health care law known as the Affordable Care Act requires all Americans to have health insurance. For tax years before 2019, if you don't have health insurance, you must get an exempt...
https://turbotax.intuit.com/tax-tips/health-care/what-is-the-shared-responsibility-payment/L7hupB0UC
Should I Use IRS Form 2106 or 2106-EZ for Non-Reimbursed Work-Related Expenses?
For tax years prior to 2018, use the IRS Forms 2106 and 2106-EZ for claiming non-reimbursed expenses you incur during your normal course of work. There are a few factors you'll want to consider w...
Worst Tax States When on a Tight Budget
State tax structures are highly complex and can eat at your personal finances in a variety of ways that aren't immediately obvious.
https://turbotax.intuit.com/tax-tips/state-taxes/worst-tax-states-when-on-a-tight-budget/L8lUAF92h
Should You Take Advantage of the 2021 Tax Deadline Extension?
Due to the economic uncertainty related to Coronavirus (COVID-19), the IRS granted an automatic 2021 tax extension to May 17 for most individual income tax returns and payments originally due on ...
Uncle Sam to the Rescue
New rules make it easier than ever for taxpayers to get tax breaks on casualty loss deductions, following the devastating floods, hurricanes and fires in 2008.
https://turbotax.intuit.com/tax-tips/tax-relief/uncle-sam-to-the-rescue/L6x0OF5c1
Extension and Tax Relief for Texas Winter Storm Victims
If you were impacted by the recent Texas storms or any natural disasters, here's up to date and important tax relief information that may help you in this time of need.
Last-Call Tax Tips for 2010
Note: The content of this article applies only to taxes prepared for 2010. It is included here for reference only. Unless Congress acts, several important tax benefits will expire at the end of 2...
How Health Care Reform Has Changed the Way You Pay Taxes
With the passage of the Affordable Care Act, it's time to think about how it will affect your taxes. Whether your income is high, low or in-between, everyone will likely be affected in some way. ...
Employees Can Deduct Workplace Expenses For Tax Years Prior to 2018
Deducting business expenses isn't just for the self-employed. Taxpayers classified as employees can also deduct some of their unreimbursed business expenses.
Deduct the Sales Tax Paid on a New Car
If you buy a new car, pickup truck, motorcycle or motor home in 2009 you could qualify for a new sales tax deduction, thanks to the stimulus law passed on February 17, 2009.
https://turbotax.intuit.com/tax-tips/tax-relief/deduct-the-sales-tax-paid-on-a-new-car/L5eAnHx3j
About Casualty Deduction for Federal Income Tax
You may be eligible to claim a casualty deduction for your property loss if you suffer property damage during the tax year as a result of a sudden, unexpected or unusual event.
What You Need to Know About Your 2020 Stimulus Check
In response to the challenges presented by Coronavirus (COVID-19), the government is taking several actions to bolster the economy, such as offering expanded unemployment, student loan relief, se...
Stimulus 2020: Unemployment Insurance for Self-Employed Individuals
Due to the recent coronavirus pandemic, many businesses and individuals are facing challenging times ? including those that are self-employed. The government has issued unemployment insurance for...
Taxes for the Highest Paid Athletes
To the victor go the spoils in professional athletics, but those with the biggest salaries and endorsements also have hefty tax obligations. While it's rare that solid tax figures for private ind...
https://turbotax.intuit.com/tax-tips/fun-facts/taxes-for-the-highest-paid-athletes/L4azI6Bje
What is the 2020 Recovery Rebate Credit and am I Eligible?
Many Americans may be eligible for the Recovery Rebate Credit commonly referred to as the COVID stimulus payment. The credit is for the 2020 tax year even though the last payments came in 2021 fo...
Hurricane Tax Relief From Hurricane Laura: Do I Qualify?
On August 27, 2020, Hurricane Laura made landfall near Cameron, Louisiana, as a Category 4 storm. Due to its severity, the Federal Emergency Management Agency (FEMA) designated certain areas as q...
New Coronavirus Relief Package: What Does it Mean for You and a Second Stimulus Check
A second stimulus is coming for millions of Americans. Here's everything you need to know about the new Coronavirus relief package, second stimulus check and what it means for you, your income an...
What Are Tax Exemptions?
Tax exemptions come in many forms, but one thing they all have in common is they either reduce or entirely eliminate your obligation to pay tax. Most taxpayers are entitled to an exemption on the...
https://turbotax.intuit.com/tax-tips/irs-tax-return/what-are-tax-exemptions/L5xCsvZKO
Unmarried First-Time Homebuyers: Who Gets the Credit for a 2010 Purchase?
Note: The content of this article applies only to taxes prepared for 2010. It is included here for reference only. When two unmarried individuals buy a home together, who gets the $8,000 First-Ti...
Video: The Alternative Minimum Tax (AMT) Explained
Originally created to make sure the wealthy paid taxes even after using tax breaks and loopholes, the Alternative Minimum Tax (AMT) has never been updated and continues to impact middle class Ame...
A Stimulus Boost for Some Earned Income Tax Filers
Recent changes to the Earned Income Tax Credit (EITC) may put more money in your pocket in 2021 if you are married, or if you have three or more qualifying children.
Video: Tax Tips for Divorced Couples
No one gets married preparing to get divorced, so many newly divorced people are unprepared for the tax rules that they may now be subject to. Watch this TurboTax tax tip video for a few things t...
https://turbotax.intuit.com/tax-tips/marriage/video-tax-tips-for-divorced-couples/L8YqvF7p5
Video: Tax Tips for Those Joining the Great Resignation
If you're one of the many Americans who left their job or made big changes to their employment status in 2021, you need to know how these changes can impact your taxes. CPA and TurboTax tax exper...
Video: 5 Biggest Changes for Tax Year 2021 Explained
There were a number of important tax law changes for tax year 2021. CPA and TurboTax tax expert Lisa Greene-Lewis shares with TheStreet an overview of the essential info for taxpayers.
Are You Exempt From Health Care Coverage?
The Affordable Care Act, or Obamacare, is an individual mandate that requires all eligible Americans to have some form of basic health coverage. For tax years prior to 2019, those without insuran...
https://turbotax.intuit.com/tax-tips/health-care/are-you-exempt-from-health-care-coverage/L2ait3Gsk
What Is a Schedule L IRS form?
The Schedule L IRS form for Form 1040 was used through the 2010 tax year for property losses incurred in a federal disaster area.
https://turbotax.intuit.com/tax-tips/tax-relief/what-is-a-schedule-l-irs-form/L0cGYDCHQ
What is IRS Form 1040EZ?
Form 1040EZ is no longer used, but Form 1040 and Form 1040-SR are important for taxpayers to be familiar with. Here's a guide to what is on these forms and what has changed from previous tax year...
https://turbotax.intuit.com/tax-tips/irs-tax-return/what-is-the-irs-1040ez-form/L3KwQs5iR
Video: What Are Tax Exemptions?
Tax exemptions work like a deduction and reduce your taxable income each year. Learn about tax exemptions with help from TurboTax in this video clip.
https://turbotax.intuit.com/tax-tips/irs-tax-return/video-what-are-tax-exemptions/L2OyzmuCI
Tax Credits for Those Affected by Natural Disasters
The most significant helping hand offered by the IRS, the casualty loss deduction, provides an accelerated tax refund when you live in an area proclaimed as a "federally declared disaster area" b...
What Is a Schedule M IRS form?
Note: The content of this article applies only to taxes prepared for 2009 and 2010. It is included here for reference only. In order to take the making work pay tax credit, the IRS requires you t...
https://turbotax.intuit.com/tax-tips/tax-relief/what-is-a-schedule-m-irs-form/L8CFFjgOG
Video: Expenses That Are Tax Deductible When Working from Home
If you work from home, you may be entitled to some normally unavailable tax breaks. Your biggest savings will probably come from the home office deduction. This allows you to deduct some of your ...
A Comparative Look at State Taxes
Note: The content of this article applies only to 2010 tax rates. Ever wondered which state has the highest gas tax or the lowest overall tax burden? Interact with the infographic below to compar...
https://turbotax.intuit.com/tax-tips/state-taxes/a-comparative-look-at-state-taxes/L8Q65IQsI
Deducting Contributions to Haitian Earthquake Relief on Your 2009 Return
Following the disastrous earthquake in Haiti on January 12, 2010, an overwhelming number of taxpayers have made generous cash contributions to the relief effort. Here's what you need to know abou...
2015 Tax Relief for South Carolina Flood Victims
South Carolina was battered by some of the worst flooding the region has seen in history, submerging thousands of cars, flooding out entire towns and leaving a lot of residents in need of relief ...
A Global Look at Personal Income Taxes Interactive Infographic
Ever wondered how much people pay in taxes in other countries? Interact with the infographic below to compare personal income tax rates around the world. You may be surprised by which countries h...
An E-filing Environment?Did You Know?
E-filing tax returns has been increasing steadily in the last eight years, which is good news for our trees. Learn how e-filing helps our environment.
https://turbotax.intuit.com/tax-tips/e-file/an-e-filing-environment-did-you-know/L7YJafc8I
What Is IRS Form 8917?
If you, your spouse or dependents attended post-secondary school, you may be able to deduct a portion of the tuition and fees by reporting it on IRS Form 8917. However, the deduction is only avai...
https://turbotax.intuit.com/tax-tips/college-and-education/what-is-irs-form-8917/L4Bi1gbgx
Video: How to Get All the Tax Deductions Possible When Filing
Familiarizing yourself with IRS tax deductions will greatly help increase your tax return. The more deductions you can report, the lower your taxable income will be.
Video: Adjusted Gross Income (AGI) Explained
It is important to understand how your adjusted gross income (AGI) affects your taxable income. The IRS uses your AGI to determine whether you can claim certain deductions and credits and the amo...
Make Withholding Changes Work for You
Note: The content of this article applies only to taxes prepared for 2009 and 2010. It is included here for reference only. The Making Work Pay tax credit gave all wage earners a small increase i...
https://turbotax.intuit.com/tax-tips/tax-refund/make-withholding-changes-work-for-you/L8Hd3paXL
Video: Tax Tips for a New Baby
A new baby in the family can make your family eligible for specific tax breaks, including a dependent tax exemption. Retrieve a Social Security number for the new addition to your family before c...
https://turbotax.intuit.com/tax-tips/family/video-tax-tips-for-a-new-baby/L9aRdf628
Tax Refunds?Better Than Christmas?
Every year, millions of Americans get a financial windfall in the form of a tax refund. Here, we've gathered some key tax filing statistics on how they're getting those refunds -- everything from...
https://turbotax.intuit.com/tax-tips/fun-facts/tax-refunds-better-than-christmas/L7fp2Nu3y
IRS Moving Expense Deductions
For tax years prior to 2018, Federal tax laws allow you to deduct your moving expenses if your relocation relates to starting a new job or a transfer to a new location for your present employer. ...
https://turbotax.intuit.com/tax-tips/jobs-and-career/irs-moving-expense-deductions/L5podfG5I
Video: Who You Can Claim as a Dependent on Your Tax Return
You could get $4,000* off your taxable income for each dependent you claim in 2015. So who can you claim? *$4,050 in 2017. Note: The content of this video applies only to taxes prepared for 2015....
Video: Tax Deductions for Job Hunters
Searching for a new job can run up costs. Can you deduct them on your tax return? Yes, but with a few limitations.
https://turbotax.intuit.com/tax-tips/unemployment/video-tax-deductions-for-job-hunters/L2SSQIDpj
Video: Gift Tax IRS Rules
Note: The content of this video applies only to taxes prepared for 2010. It is included here for reference only. The IRS charges taxes on certain gifts that people make during the year. Learn abo...
https://turbotax.intuit.com/tax-tips/estates/video-gift-tax-irs-rules/L8FLgWwAW
What Is the IRS Form 2106?
For tax years through 2017, use IRS Form 2106 if you itemize deductions for non-reimbursed work-related expenses such as travel, meals, entertainment or transportation.
https://turbotax.intuit.com/tax-tips/jobs-and-career/what-is-the-irs-form-2106/L7L9WJdwI
10 Strange But Legitimate Federal Tax Deductions
With tax season in full swing, and people trying to deduct all that they can, we thought it the perfect time to highlight some strange but legitimate tax deductions. Some were challenged in Tax C...
Video: Tax Prep Checklist For Moving Between States
Moving to a new state could mean you're eligible for certain tax deductions. Find out how to approach your taxes during this special situation.
Video: 5 Pandemic-Related Tax Questions Answered
CPA and TurboTax tax expert Lisa Greene-Lewis joins TheStreet to break down the pandemic-related tax questions many Americans will be asking.
What is the IRS 1040A Form?
One of the three common forms you can use to file your federal income tax return is IRS Form 1040A.
https://turbotax.intuit.com/tax-tips/irs-tax-return/what-is-the-irs-1040a-form/L3MeNYgQi
Video: Home Repairs and Tax Deductions
You can claim tax deductions on certain types of repairs you make to your home throughout the year. Learn about home repairs and tax deductions with help from TurboTax in this video clip.
https://turbotax.intuit.com/tax-tips/home-ownership/video-home-repairs-tax-deductions/L3b3cyQoJ
Video: Remember These Key Dates and Deadlines for Tax Year 2022
Tax day is April 18 this year! Lisa Greene-Lewis, CPA and TurboTax tax expert, discusses the important tax dates and deadlines.
2018 Tax Reform Changes for Self-Employed Businesses
Wondering how the 2017 tax reform impacts your 2018 taxes if you're self-employed? Here is a summary of the changes to tax deductions and credits that you can claim as a self-employed freelancer,...
Cities With the Highest and Lowest Taxes
Geography has a lot to do with personal finance, and where you live in the United States has an impact on your annual tax burden. While federal income taxes are assessed in a consistent manner co...
https://turbotax.intuit.com/tax-tips/fun-facts/cities-with-the-highest-and-lowest-taxes/L1E8wY4oL
Video: Your Extension of Time to File 2021 Taxes Is Running Out
The tax extension deadline is getting closer. TurboTax Tax Expert and CPA Lisa Greene-Lewis walks tax filers through last-minute tips ahead of the October deadline.
Video: Energy Efficient Credits
Learn about the recent changes to tax credits for energy efficiency in your home, solar credits and credits for both new and used electric vehicles.
https://turbotax.intuit.com/tax-tips/videos/video-energy-efficient-credits/c6Lj1R3cJ
How to File an Amended Tax Return with the IRS
Did you make a mistake on your tax return or realize you missed out on a valuable tax deduction or credit? You can file an amended tax return to make the correction. Filing an amended tax return ...
Are Medical Expenses Tax Deductible?
Medical expenses can be tax deductible. Learn which expenses might be deductible on your 2023 taxes that you?ll file in 2024.
https://turbotax.intuit.com/tax-tips/health-care/can-i-claim-medical-expenses-on-my-taxes/L1htkVqq9
How Bonuses Are Taxed
Working hard all year to help your company meet its annual goals deserves a reward, and you've definitely earned that bonus. But bonuses count toward your income for the year, so they're subject ...
https://turbotax.intuit.com/tax-tips/jobs-and-career/how-bonuses-are-taxed/L7UjtAZbh
At What Income Does a Minor Have to File an Income Tax Return?
Even if your kids are young enough to be your dependents, they may still have to pay taxes. In some cases, you may be able to include their income on your tax return; in others, they'll have to f...
Filing a Business Tax Extension
Do you need more time to file your 2023 business tax return? Here's how to file for a business tax extension.
https://turbotax.intuit.com/tax-tips/small-business-taxes/filing-a-business-tax-extension/L5MDFPZkB
Non-Qualified Stock Options
Exercising options to buy company stock at below-market price triggers a tax bill. How much tax you pay when you sell the stock depends on when you sell it.
https://turbotax.intuit.com/tax-tips/investments-and-taxes/non-qualified-stock-options/L8zsxRi7B
What Is the Difference Between a Refundable and a Nonrefundable Credit?
A tax credit can substantially reduce the amount of tax you owe, or even make your tax refund bigger. However, not all tax credits are alike. Tax credits can be refundable or nonrefundable, and s...
Tax Attorney vs. CPA: What's the Difference?
Tax attorneys and CPAs are two different, but similar, professionals who can help you with taxes and financial planning. Learn what each one does and when you might call on them for help.
https://turbotax.intuit.com/tax-tips/tax-pro/tax-attorney-vs-cpa-whats-the-difference/L2BsPSv6S
What is Form 1099-OID?
If your bonds or certificates of deposit (CDs) have reached maturity, you'll need to file tax Form 1099-OID.
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-form-1099-oid/L5kJapPr0
Top 4 Red Flags That Trigger an IRS Audit
Certain red flags in a tax return are sure to draw scrutiny by the IRS. Some are easy to sidestep. Others, can't be helped.
What is Schedule F: Profit or Loss from Farming
If you earn a living as a self-employed farmer, you may need to include a Schedule F attachment with your tax return to report your profit or loss for the year. The Internal Revenue Service defin...
5 Tax Tips for Housekeepers
As a housekeeper, you work hard for your money, so make sure you're not leaving any of it on the table at tax time. Be sure to claim all possible tax deductions to minimize the taxes you may owe ...
https://turbotax.intuit.com/tax-tips/self-employment-taxes/5-tax-tips-for-housekeepers/L03NFuSdY
Guide to Filing Taxes as Head of Household
The Head of Household Filing Status typically allows for a more generous tax situation to unmarried taxpayers who maintain a home for a qualifying person, such as a child or family relative.
https://turbotax.intuit.com/tax-tips/family/guide-to-filing-taxes-as-head-of-household/L4Nx6DYu9
Property Management Tax Deductions
Becoming a residential landlord or owning a commercial property comes with new tax responsibilities. Learn about property management tax deductions and how to handle your new tax situation.
https://turbotax.intuit.com/tax-tips/home-ownership/property-management-tax-deductions/L6QXTih0O
Can I Convert My LLC to an S-Corp When Filing My Tax Return?
Converting your LLC to an S-Corp when filing your tax return can be a complicated process, but it is possible. Find out how it can be done.
What is Employer Sponsored Coverage?
The term "employer-sponsored coverage" refers to health insurance obtained through an employer?the most common way Americans get insurance. Employer-sponsored coverage includes not only insurance...
https://turbotax.intuit.com/tax-tips/health-care/what-is-employer-sponsored-coverage/L01gcZpTR
Good Deeds Gone Bad: Getting a Tax Break for That Loan Your Nephew Never Paid Back
There's good reason to be cautious about lending money to family. If the borrower isn't conscientious about repayment, you're stuck between trying to get your money back and maintaining family ha...
Deductions Allowed for Contributions to a Traditional IRA
The contributions you make to a traditional IRA account may entitle you to a tax deduction each year.
How Long Do Federal and State Tax Returns Need to Be Kept?
If the IRS or state government questions your tax deductions or business losses, you may need a copy of your return.
Taxes and the Federal Poverty Level Guidelines
The federal government defines individuals and families as being in poverty if their household income falls below a certain level. The level varies based on household size and, to a lesser extent...
What is Form 8881: Tax Credit for Small Employer Pension Plan Startup Costs
The tax code typically encourages Americans to save for retirement. It also gives employers incentives to set up retirement plans for their workers. One way it does this is by offering tax credit...
Business Use of Vehicles
If you use vehicles in your small business, how and when you deduct for the business use of those vehicles can have significant tax implications. It pays to learn the nuances of mileage deduction...
https://turbotax.intuit.com/tax-tips/small-business-taxes/business-use-of-vehicles/L6hi0zzzh
Steps to Claiming an Elderly Parent as a Dependent
If you cared for an elderly parent, your parent may qualify as your dependent, resulting in additional tax benefits for you.
How Do I Request Prior Year Federal Tax Returns?
You can request prior tax returns, for a fee, from the IRS.
What are ABLE Accounts? Tax Benefits Explained
Achieving a Better Life Experience (ABLE) accounts allow the families of disabled young people to set aside money for their care in a way that earns special tax benefits. ABLE accounts work much ...
Peer-to-Peer Car Sharing Tax Tips
More and more car owners are sharing their vehicles as a way to earn extra cash and offset the costs of owning a car using car-sharing apps like Getaround and Zipcar. Similar to Airbnb's business...
Running for the (Tax) Shelter
Look to the home front to protect your assets. The only "surefire" tax shelters remaining are deductions such as your mortgage and donations to charity.
https://turbotax.intuit.com/tax-tips/investments-and-taxes/running-for-the-tax-shelter/L3u5KKBWi
Managing Assets
How can I get the most favorable tax treatment for my business assets? TurboTax covers depreciation, special first-year expensing rules, and dispositions.
https://turbotax.intuit.com/tax-tips/small-business-taxes/managing-assets/L18WqppFX
Nacimiento de un hijo
El nacimiento de un hijo no solo es una bendición, sino que es el inicio de toda una serie de exenciones de impuestos para tu familia. Descubre cómo el nuevo miembro de tu familia puede ayudart...
https://turbotax.intuit.com/tax-tips/en-espanol/nacimiento-de-un-hijo/L0xVC63Sr
Siete requisitos para calificar para el Crédito Tributario por Hijos
El Crédito Tributario por Hijos puede reducir significativamente tu factura de impuestos si cumples todos estos siete requisitos: 1. edad, 2. lazo familiar, 3. manutención, 4. estado de dependi...
¿Qué es el Crédito Tributario Adicional por Hijos?
Si no puedes reclamar el Crédito Tributario por Hijos completo porque el impuesto que debes es menor que el crédito disponible, tal vez puedas reclamar el Crédito Tributario Adicional por Hijo...
¿Qué sucede cuando ambos padres reclaman a un hijo en una declaración de impuestos?
Para reducir potencialmente tus impuestos, el IRS (Servicio de Impuestos Internos) te permite reclamar a un hijo dependiente en la declaración de impuestos. Si no presentas una declaración conj...
Los siete requisitos principales para el Crédito Tributario por Hijos del 2023 y 2024
El Crédito Tributario por Hijos puede reducir significativamente tu factura de impuestos si cumples todos estos siete requisitos: 1. edad, 2. lazo familiar, 3. sustento financiero, 4. estado de ...
Crédito Tributario por Hijos del 2023 y 2024
La reforma tributaria ha generado cambios en las reglas del Crédito Tributario por Hijos en los últimos años. Te contamos cómo puedes saber si calificas para este crédito.
https://turbotax.intuit.com/tax-tips/en-espanol/crdito-tributario-por-hijos/L0aPHddkU
Understanding IRS Form 1096
Those who hire independent contractors should file Form 1096 with their taxes when reporting non-employee compensation to the IRS by mail.
https://turbotax.intuit.com/tax-tips/small-business-taxes/understanding-irs-form-1096/c7AUo4EoB
Home Foreclosure: What's Your Tax Liability?
Through 2025, exceptions to federal tax laws allow some homeowners to escape additional tax liability when going through foreclosure.
Why the IRS Discontinued the E-file PIN and What That Means for You
Filing your taxes electronically is convenient and stress-free ? but cyber-attacks have targeted the security of the Electronic Filing PIN, a unique signature used to file your taxes online. This...
What is the Educator Expense Deduction?
The Educator Expense Tax Deduction allows teachers and certain academic administrators to deduct a portion of the costs of technology, supplies, and certain training. Here?s what teachers need to...
How to Calculate Net Worth and Why Net Worth Matters
Do you know what you're worth? Determining your personal net worth can provide you with insight into your finances that you wouldn't otherwise have.
What Is Schedule H: Household Employment Taxes
If you hire people to do work around your house on a regular basis, they might be considered household employees. Being an employer comes with some responsibilities for paying and reporting emplo...
What Are Income Taxes?
Part of the 16th Amendment, income taxes are a part of our lives. Here are the details.
https://turbotax.intuit.com/tax-tips/general/what-are-income-taxes/L5PKSEZTs
What Are Tax Breaks?
A tax break means the government is offering you a reduction in your taxes.
https://turbotax.intuit.com/tax-tips/general/what-are-tax-breaks/L9tQkasRK
What to Expect Tax-Wise from Your Summer Job
You won't know what to expect tax-wise from your summer job unless you consider factors other than how much you earn.
Are Contributions to School District Programs Tax Deductible?
The IRS allows you to claim a deduction for the donations you make to qualified organizations. These organizations include more than just charities and will include any school district program th...
On-Demand Jobs and Your Taxes
More Americans work in the new, on-demand economy than you might imagine. Companies are essentially tapping into a workforce of talented, independent workers. If you are an on-demand worker, your...
https://turbotax.intuit.com/tax-tips/self-employment-taxes/on-demand-jobs-and-your-taxes/L1nbyvhWe
What Is the IRS Form 8889?
Before you can deduct your contributions to a health savings account (HSA), you must prepare IRS Form 8889.
https://turbotax.intuit.com/tax-tips/health-care/what-is-the-irs-form-8889/L8hRNHx4o
Keeping Good Tax Records
Keeping good tax records doesn't have to mean an overflowing desk drawer. Plenty of online tools can help keep even your offline tax records organized.
https://turbotax.intuit.com/tax-tips/tax-planning-and-checklists/keeping-good-tax-records/L61fGcXtc
The Golden Years Guide to Tax-Free Retirement
The earlier you begin socking away savings, the much better off you'll be in your "golden years." By using some tax tips, you can end up paying little or no taxes after you retire.
Cash for College: Tax-Free 529 Plans
With a 529 plan, you can stack up the books, not the debt. No matter how old your child is, it might be time to consider a qualified tuition program (QTP), also known as a 529 plan. For many fami...
What to Do if You Get an IRS Notice
There are several things you can do if you receive a notice. Calm down and read it carefully. Not all IRS notices relate to tax audits.
Seven Things You Didn't Know About Taxes
You know your federal taxes pay for government programs and services, like roads and national defense. And you may even know the difference between FICA and income tax. But did you know if you wa...
https://turbotax.intuit.com/tax-tips/fun-facts/seven-things-you-didnt-know-about-taxes/L55RzI7Z4
Top Tax Breaks for Disabled Veterans
The United States government offers several tax breaks and deductions for disabled veterans. As you look at how to take advantage of the available options, follow our guide to ensure you're getti...
https://turbotax.intuit.com/tax-tips/military/top-tax-breaks-for-disabled-veterans/L2EuVWitq
Who Is Exempt from Paying Social Security Tax?
Most people can't avoid paying Social Security taxes on their employment and self-employment income. There are, however, exemptions available to specific groups of taxpayers.
Tax Preparation Checklist
Before preparing your taxes, go through the following checklist. You may be surprised at how much time you save by organizing your information beforehand.
https://turbotax.intuit.com/tax-tips/tax-planning-and-checklists/tax-preparation-checklist/L7LHiDqGJ
Filing Tax Form 8936: Qualified Plug-in Electric Drive Motor Vehicle Credit
If you purchased a qualifying vehicle and are looking to claim the Qualified Plug-In Electric Motor Vehicle Credit or Clean Vehicle Credit, you?ll use Form 8936 with your tax return.
Understanding the New Clean Vehicle Credit
The electric vehicle tax credit, now called the clean vehicle credit, was recently expanded and modified. Learn about the new rules and restrictions to qualify.
Spread the Wealth, Carefully, with Tax-Free Gifts
Thinking about making a charitable donation, or want to bestow your generosity on a loved one? The first thing you have to do is understand the tax implications. Not every charity is created equa...
Federal Tax Credit for Residential Solar Energy
The Residential Clean Energy Credit for solar energy upgrades to your home has been extended through 2034 and expanded in value.
https://turbotax.intuit.com/tax-tips/going-green/federal-tax-credit-for-solar-energy/L7s9ZiB4D
Video: What Are Dependents?
If you financially support a child, a parent, a relative or even a friend, you may be able to claim them as a dependent on your taxes and take an exemption. Who qualifies as a dependent? Learn mo...
https://turbotax.intuit.com/tax-tips/family/video-what-are-dependents/L073mDM4d
Advanced Child Tax Credit: Everything You Need to Know
TurboTax CPA Lisa Greene-Lewis provides an overview of the essentials of the Advanced Child Tax Credit.
How Do I Claim Someone as a Dependent on Taxes?
When you prepare your federal income tax return, it's likely you want to seek every possible deduction to reduce the amount of tax you owe. One way to do this is by claiming your children and oth...
https://turbotax.intuit.com/tax-tips/family/how-do-i-claim-someone-as-a-dependent-on-taxes/L9kSVo4aE
Video: Child Tax Credit (2021-2022) Explained and What It Means for Your Taxes
Millions of American families benefited from the extended Child Tax Credit of 2021. CPA and TurboTax tax expert Lisa Greene-Lewis is here to explain how this credit can impact your tax situation.
Video: TurboTax Refund Calculator: Get Personalized Tips for Your Best Tax Refund | Free Tax Calculator
Sign in to your TurboTax account: https://myturbotax.intuit.com to access the free Refund Tax Calculator, where we?ll offer personalized tax tips as you start to estimate your tax refund. Whether...
Video: What's the Child Tax Credit?How Do I Qualify?
Did you know that your greatest joy can also be one your biggest tax deductions? Learn more about what is the Child Tax Credit and how you may qualify. You can get back up to $2,000 on your retur...
5 Hidden Ways to Boost Your Tax Refund
Here are five tried-and-true ways to reduce your tax liability at tax time. Pay no more than you owe, or even increase your tax refund.
https://turbotax.intuit.com/tax-tips/tax-refund/5-hidden-ways-to-boost-your-tax-refund/L0AZGnJuS
How to Track an Income Tax Refund
You can track your tax refund most easily if you filed a tax return electronically, but it is still possible if you mailed in your return. You can use the IRS "Where's My Refund" tool, call the I...
https://turbotax.intuit.com/tax-tips/tax-refund/how-to-track-an-income-tax-rebate/L6DjNB7LO
8 Money-Saving Tax Tips for Parents
No one ever said raising kids would be a cost-effective undertaking. But, after your initial "investment" in diapers, baby food and all the other necessary bells and whistles, the financial perks...
https://turbotax.intuit.com/tax-tips/family/8-money-saving-tax-tips-for-parents/L0kSE7Vcr
How to Itemize Taxes When Claiming Dependents
Claiming dependents and itemizing deductions is an effective way to save money on your income taxes. Each dependent you claim allows you to reduce your taxable income by one exemption for tax yea...
https://turbotax.intuit.com/tax-tips/family/how-to-itemize-taxes-when-claiming-dependents/L1AvrAhrr
Tax Planning for Beginners
Your tax refund is based on how much tax you pay in excess of the tax you owe. Basic tax planning strategies aimed at reducing the amount of your taxable income may increase the gap and thus your...
What Information Is Needed for Tax Returns?
A tax return is a document you must file with the government showing how much income you earned in a particular year.
Tax Terms Glossary
Confused by tax terms and lingo? Get plain-English definitions that make tax return terminology less, well, taxing.
https://turbotax.intuit.com/tax-tips/general/tax-terms-glossary/L2M1PfoYy
7 Best Tips to Lower Your Tax Bill from TurboTax Tax Experts
While everyone?s tax situation is different, there are certain steps most taxpayers can take to lower their taxable income. Here are seven great tips from TurboTax Live tax experts to help you lo...
Can I Redo My Taxes and Should I?
Congress sets the laws that change the current and future rules around taxes. But some of these changes can also retroactively affect taxes from previous filings. You might be wondering how to fi...
https://turbotax.intuit.com/tax-tips/amend-return/can-i-redo-my-taxes-and-should-i/L9IW7lJWP
7 Most Common Tax Questions Answered by a CPA
CPAs answer a host of tax questions every day about tax returns, deductions, personal finances, and more. Here are some of those FAQs and the answers.
https://turbotax.intuit.com/tax-tips/tax-pro/7-most-common-tax-questions-answered-by-a-cpa/L4Z70RBd8
Birth of a Child
The birth of a child is not just a blessed event; it's the beginning of a whole new set of tax breaks for your family. Learn how the newest addition to your family can help trim your tax bill, an...
https://turbotax.intuit.com/tax-tips/family/birth-of-a-child/L26LBBTkd
What is the Additional Child Tax Credit?
If you can't claim the full Child Tax Credit because you owe less tax than the available credit, you may be able to claim the refundable Additional Child Tax Credit.
https://turbotax.intuit.com/tax-tips/family/what-is-the-additional-child-tax-credit/L4IBvQted
Sweet Child of Mine: Tax Credits for Parents
Parents may qualify for helpful tax breaks on everything from child care to educational costs and even supplies, in some cases.
https://turbotax.intuit.com/tax-tips/family/sweet-child-of-mine-tax-credits-for-parents/L1DqxZ9mh
How Major Life Events Affect Your Taxes
If you're among the millions of Americans who will experience a significant life change this year (new house, new baby, getting married, etc.), here are some tips for how to handle it come tax ti...
What is the IRS Form 8812?
If you have children and a low tax bill, you may need IRS Form 8812 to claim all of your Child Tax Credit.
https://turbotax.intuit.com/tax-tips/family/what-is-the-irs-form-8812/L1HbgYQqE
Video: 5 Last Minute Tax Deductions and Credits
CPA and TurboTax tax expert Lisa Greene-Lewis explains the big tax deductions that tax filers often forget.
2023 and 2024 Child Tax Credit
Tax reform has caused some changes to the rules for the Child Tax Credit in recent years. Here's how to know whether you qualify for this credit.
https://turbotax.intuit.com/tax-tips/family/child-tax-credit/L9ZIjdlZz
What Is a W-4 Form?
The W-4 Form is an IRS form that you complete to let your employer know how much money to withhold from your paycheck for federal taxes. Accurately completing your W-4 can help you prevent having...
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-a-w-4-form/L2NapDzX2
5 Tax Tips for Single Parents
Filing taxes as a single parent requires coordination between you and your ex-spouse or partner. Usually the custodial parent claims the child as a dependent, but there are exceptions. A single p...
https://turbotax.intuit.com/tax-tips/family/5-tax-tips-for-single-parents/L8JTJGeNf
5 Tax Tips for Single Moms
If you're a single mom filing your taxes, make use of tax credits and deductions that can help reduce your taxable income and reduce the amount of tax you pay. A number of strategies, credits and...
https://turbotax.intuit.com/tax-tips/family/5-tax-tips-for-single-moms/L8IlzJ4EW
Tax Tips for Single Dads
Only 1% of households were headed by single fathers back in 1960. By the time of the most recent Pew Research Center study in 2013, that number had jumped to 8%. If you?re in this growing group, ...
https://turbotax.intuit.com/tax-tips/family/tax-tips-for-single-dads/L9AR2bnNI
Rise of the Gig Economy: How Self-Employed Workers Can Benefit from Tax Reform
A number of proposed and pending reforms are shaping the way the IRS views workers in the gig economy.
Tax Tips for Freelance Writers and Self-Published Authors
If you earn money selling your words to websites and other publishers, the Internal Revenue Service will likely say you?re a small business owner. Freelance income is self-employment income, and ...
Changing Jobs? Tax Implications and Tax Forms for a New Job
How does starting a new job affect your taxes? Learn what forms, deductions, and considerations you should keep top of mind if you've recently switched jobs or careers.
https://turbotax.intuit.com/tax-tips/jobs-and-career/changing-jobs/L5ElUIrh6
Why Should You File Your Taxes Early? Our Top 5 Reasons
Every year, many taxpayers wait until the last minute to file their federal income tax returns. Despite this tendency, there are many reasons to file your taxes early. If you will receive a refun...
https://turbotax.intuit.com/tax-tips/general/reasons-to-file-taxes-early/L8MfjPPjg
Tax Deductions for Diabetes
The IRS allows you to claim a tax deduction for many of the expenses you incur to diagnose, monitor and treat diabetes.
https://turbotax.intuit.com/tax-tips/health-care/tax-deductions-for-diabetes/L2GQqVIqJ
Tax Tips for Caring for a Disabled Spouse
Caring for a disabled spouse can be a financial strain, but you do have opportunities to reduce the burden. There are many tax credits and other tax breaks available for disabled individuals and ...
https://turbotax.intuit.com/tax-tips/disability/tax-tips-for-caring-for-a-disabled-spouse/L4RRkt80F
What Is IRS Publication 502?
If you itemize your deductions and anticipate including some of your medical and dental expenses, then IRS Publication 502, "Medical and Dental Expenses," can help you determine which expenses qu...
https://turbotax.intuit.com/tax-tips/health-care/what-is-irs-publication-502/L2t8xyIEf
Can You Claim a Boat or RV as a Primary Residence?
Living at home doesn't necessarily mean you have to be tethered to one place. For federal tax purposes, a boat or a recreational vehicle can be either your main or secondary residence, entitling ...
Your Crypto Tax Guide
Is there a cryptocurrency tax? If you've invested in cryptocurrency, understand how the IRS taxes these investments and what constitutes a taxable event.
https://turbotax.intuit.com/tax-tips/investments-and-taxes/your-cryptocurrency-tax-guide/L4k3xiFjB
Guide to the Nanny Tax for Babysitters and Employers
When it comes to working in people's homes, the working arrangements are often casual and wages are paid out in cash. This grey area can lead to confusion for both parties, but determining if a n...
The Ins and Outs of the Child and Dependent Care Credit
If you are paying someone to take care of your children or another person in your household while you work, you might be eligible for the child and dependent care credit. This credit "gives back"...
What Extra Tax Deductions Should I Make Sure To Take?
The federal government offers tax deductions and credits to reduce taxable income under certain circumstances. There are several that are often overlooked, including deductions for job hunting, c...
Video: Get Ready for Tax Year 2023 Now
Making some smart moves this year can help you build your savings and lower your taxes in April. CPA and TurboTax tax expert Lisa Green-Lewis explains how.
https://turbotax.intuit.com/tax-tips/videos/video-get-ready-for-tax-year-2023-now/c5VarPiYe
Video: Tips to Help Self-Employed Save Money at Tax-Time
If you?re self-employed, you need to know about all of the tax deductions you can get, plus how retirement savings can help you lower your taxes, too.
Video: Tax Tips for NIL Athletes
College athletes can make money from their name, image and likeness, or NIL. Learn from TurboTax Tax Expert and CPA Lisa Greene-Lewis how this can affect taxes and finances of both parents and at...
https://turbotax.intuit.com/tax-tips/videos/video-tax-tips-for-nil-athletes/c7LkrsI10
Combat Pay, Tax Style: Benefits When Serving in a Hot Zone
Generally, any form of military pay earned while on deployment in a combat zone is excluded from federal income tax. This translates to a significant tax savings for the active service member in ...
Video: Tax Benefits for Federally Declared Disasters
Learn what to do if you?re in a federally-declared disaster zone?or if you?re not sure if you are?and how that affects your taxes and tax deadlines.
6 Tax-saving Strategies and Tips from TurboTax Experts
You may know some basic tax-saving strategies to lower your tax bill ? now, it's time to explore some less common ways to save when tax time rolls around.
Tips for Keeping Your Tax Data Secure
The number of complaints about criminals pretending to be Internal Revenue Service (IRS) officials continues to grow each year. To avoid the growing risk of tax-related scams and identity theft, ...
https://turbotax.intuit.com/tax-tips/security/tips-for-keeping-your-tax-data-secure/L7P30s8YH
What Are Tax Codes?
Internal Revenue Code consists of thousands of individual tax laws applied at the federal, state, county and city levels.
https://turbotax.intuit.com/tax-tips/general/what-are-tax-codes/L2H8wXD31
The Difference Between a 1099 and a W-2 Tax Form
Both the Form W-2 and Form 1099 serve a similar purpose?to report income you earned from sources throughout the tax year?but each is issued under different circumstances and requires slightly dif...
5 Things You Should Know about Capital Gains Tax
A capital gain occurs when you sell something for more than you spent to acquire it. This happens a lot with investments, but it also applies to personal property, such as a car. Every taxpayer s...
A Guide to Social Security Tax
Understanding how the Social Security tax impacts you as an individual taxpayer can be complicated. Here, we provide the answers to a few common questions about this tax, from self-employment to ...
https://turbotax.intuit.com/tax-tips/irs-tax-return/a-guide-to-social-security-tax/L5QxGNcJL
Guide to Your Employers Benefits Programs, Tax-Wise (401(k) matching, HSAs, Flexible, etc.)
You'll usually receive a package of benefits in addition to your salary when you work for an employer. Generally, you don't have to pay taxes on these benefits. In fact, you may actually enjoy ad...
Do Chapter Sub S Corps File Personal Tax Returns?
Although perceived as a mix between a corporation and partnership, S corporations are required to file annual tax returns.
Tax Benefits of Retirement Accounts: Comparing 401(k)s, 403(b)s, and IRAs
You know having a retirement account can help you plan for financial security later in life. But do you know how each of the various types of accounts affects your taxes? Learn the tax benefits o...
I Own Several Businesses, How Should I File Taxes?
If you run two or more separate businesses, you?ll need to know how to file taxes for each one and how they will impact your personal tax return.
Can Cellphone Expenses Be Tax Deductible with a Business?
Cellphones have become just as vital to business as a land line, which makes cellphone use a legitimate, deductible business expense. But for most of us, cellphones are also inextricably linked t...
Video: Filing Schedule EIC Earned Income Credit
Does some of the income you report on your tax return come from employment, or work you perform as a sole proprietor or independent contractor? If your answer is yes, you satisfy one of the requi...
Driving Down Taxes: Auto-Related Tax Deductions
Your car might save you a bundle come tax day, especially if you drive as part of your work. Knowing all of the auto-related deductions can ensure that your automobile is working as hard for you ...
How to Leverage the Extended Tax Deadline to Save
The extended tax deadline has given many taxpayers extra time to file and make any payments needed. Here's how you can use that time to save and be ready to file by the new deadline.
Estimated Taxes: Common Questions
If you are an employee, your employer withholds income taxes from each paycheck based on a completed W-4 Form. Usually, that's enough to take care of your income tax obligations. But if you are s...
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Tips for Paying Estimated Taxes
Get guidance on federal income tax requirements for estimated taxes to accurately pay what you owe.
https://turbotax.intuit.com/tax-tips/self-employment-taxes/tips-for-paying-estimated-taxes/L1nDU0sUs
S-Corp Federal Tax Filing Dates
The S corporation has a responsibility to file an informational income tax return each year as well as a range of other IRS forms.
https://turbotax.intuit.com/tax-tips/small-business-taxes/s-corp-federal-tax-filing-dates/L1U6tYGMt
The 2021 Tax Deadline Extension: Everything You Need to Know
In response to the Coronavirus (COVID-19) pandemic, the Treasury and IRS issued new instructions that call for a tax deadline extension, moving the customary April 15 deadline to May 17, 2021. Re...
A Guide to Paying Quarterly Taxes
Self-employed taxpayers likely need to pay quarterly tax payments and meet key IRS deadlines. Here?s a closer look at how quarterly taxes work and what you need to know when filing your tax retur...
Military Tax Return Filing and Extensions
U.S. military service members have access to a number of extensions, deferments, and other benefits when it comes to their taxes.
Filing Your Taxes Late
What do you do if you can't meet the IRS filing deadline? Learn more about filing a tax extension, late payment and late filing penalties, and what to do if you can't pay your taxes.
https://turbotax.intuit.com/tax-tips/irs-tax-return/filing-your-taxes-late/L7IhvwH9b
Can't File by the Deadline? Top 3 Reasons to File a Tax Extension
The Internal Revenue Service allows taxpayers to file for an extension if they need more time to prepare their tax return. You can obtain a tax extension for any reason; the IRS grants them autom...
10 Energy-Related Home Improvements You Can Make Today
Upgrading your home with energy efficient additions and improvements could be a great way to help the environment and save money on taxes.
What Is the Savers Credit?
The Savers Credit gives a special tax break to low- and moderate-income taxpayers who are saving for retirement.
https://turbotax.intuit.com/tax-tips/tax-deductions-and-credits/what-is-the-savers-credit/L3LyopRkK
Getting Married: What Newlyweds Need to Know
Getting married? Have you thought about how it will impact your taxes? You may need to select a tax filing status, adjust your withholding and sell your home.
https://turbotax.intuit.com/tax-tips/marriage/getting-married/L0DvEUlEC
What is the Generation-Skipping Transfer Tax?
If you're a part of a family trust, the generation-skipping tax may be a financial option to consider.
https://turbotax.intuit.com/tax-tips/family/what-is-the-generation-skipping-tax/L5mfqiA5z
Filing 2023 Taxes: Your Go-To Guide
For many people, 2023 has been a challenging year for financial and tax planning. Here's everything you need to know to complete your taxes accurately and efficiently this year.
How Can I Protect My Inheritance From Taxes?
Received an inheritance of cash, investments, or property? Here are four ways that can help you keep it from being swallowed up by taxes.
https://turbotax.intuit.com/tax-tips/estates/4-ways-to-protect-your-inheritance-from-taxes/L653s0Kyn
Last Chance to Claim Your Tax Refund
The law gives taxpayers who fail to file their income taxes three years to submit a return and claim a refund. Generally, the three-year countdown starts on the due date of the return, including ...
https://turbotax.intuit.com/tax-tips/tax-refund/last-chance-to-claim-your-tax-refund/L1ySMyA2H
Why Are My Taxes So High On My Paycheck?
You may wonder why so much money comes out of your pay, where it goes, and what can be done to change the deducted amount. The good news is that you usually have some control over your deductions...
https://turbotax.intuit.com/tax-tips/tax-refund/why-is-my-check-so-small-after-taxes/L5nn04OgA
Standard Mileage vs. Actual Expenses: Getting the Biggest Tax Deduction
The IRS offers two ways of calculating the cost of using your vehicle in your business: 1. The Actual Expenses method or 2. Standard Mileage method. Each method has its advantages and disadvantag...
What Are Tax Credits?
A tax credit is a dollar-for-dollar reduction of the income tax you owe.
https://turbotax.intuit.com/tax-tips/tax-deductions-and-credits/what-are-tax-credits/L1C2IkvRt
What is a Schedule K-1 Tax Form?
The Schedule K-1 is slightly different depending on whether it comes from a trust, partnership or S corporation. Find out how to use this tax form to accurately report your information on your ta...
https://turbotax.intuit.com/tax-tips/small-business-taxes/what-is-a-schedule-k-1-tax-form/L95lj0sJq
What is Form 1095-C: Employer-Provided Health Insurance Offer and Coverage
The Affordable Care Act, or Obamacare, requires certain employers to offer health insurance coverage to full-time employees and their dependents. Further, those employers must send an annual stat...
How to File Taxes with IRS Form 1099-NEC
If you receive tax form 1099-NEC for services you provide to a client as an independent contractor and the annual payments you receive total $400 or more, you'll need to file your taxes a little ...
2023 Tax Brackets: Find Your Federal Tax Rate Schedules
These tax rate schedules are provided to help you estimate your 2023 federal income tax. TurboTax will apply these rates as you complete your tax return.
https://turbotax.intuit.com/tax-tips/irs-tax-return/current-federal-tax-rate-schedules/L7Bjs1EAD
Video: Taxes & Divorce: Here's What to Know
A divorce can mean new beginnings. It can also mean new tax implications. CPA and TurboTax tax expert Lisa Greene-Lewis has the divorcee's guide to filing taxes after this major life event.
https://turbotax.intuit.com/tax-tips/marriage/video-taxes-divorce-heres-what-to-know/L8gReKTj8
Hurricane Sandy Tax Relief
Several tax provisions were put in effect to help taxpayers who live or do business in areas affected by Hurricane Sandy?but a number of those provisions expired on Feb. 1, 2013.
https://turbotax.intuit.com/tax-tips/tax-relief/hurricane-sandy-tax-relief/L0M1pysgg
Video: A Guide to 401k and IRA Early Withdrawal
It's important to understand the tax implications of withdrawing money early from your retirement accounts. CPA and TurboTax tax expert Lisa Greene-Lewis is here with what you need to know.
What is Form 5329: Additional Taxes on Qualified Retirement Plans?
Certain retirement account transactions require you to fill out an additional form with the IRS. Here's when you might need a Form 5329 and how to complete this document.
5 Tax Breaks for Veterans
Whether you have served in the military decades ago, or if you?re ready to retire soon, there are specific tax breaks for veterans that can help you and your family save money on your tax bill ? ...
https://turbotax.intuit.com/tax-tips/military/5-tax-breaks-for-veterans/L3EsfPqck
Are Energy-Efficient Appliances Tax Deductible?
Are you investing in energy efficient appliances? Doing so may result in some useful tax breaks to lower the cost.
Tax Tips for Sole Proprietors
As a sole proprietor, you are in charge of your own business. You'll face additional taxes and reporting requirements, but you may also be eligible for certain business tax deductions.
https://turbotax.intuit.com/tax-tips/small-business-taxes/tax-tips-for-sole-proprietors/L0aHf6OFc
What is a Tax Levy and Tax Lien?
The IRS has a set of legal options for collecting tax debt if you are unable to pay in a timely fashion. What is a tax levy? And what is a tax lien? Understanding the similarities and differences...
Are Out-of-Pocket Medical Expenses Covered by ACA?
The Affordable Health Care Act offers a premium tax credit to help with a portion, or all, of your out-of-pocket expenses, depending on your income. The credit helps individuals and families with...
Everything You Need to Know about a Tax Attorney
A tax attorney is an attorney who specializes in the interpretation and application of tax laws and policies. Tax attorneys can perform a wide array of services for their clients, including the p...
Employer Sponsored Health Coverage Explained
The Affordable Care Act, also known as Obamacare, is simpler than some people may give it credit for. The basic rule to remember is that everyone must carry Minimum Essential Coverage (MEC). Empl...
What Are Home Renovation Tax Credits?
If your home-renovation project includes the installation of energy-efficient equipment, a tax credit may be available to you.
https://turbotax.intuit.com/tax-tips/home-ownership/what-are-home-renovation-tax-credits/L8PVS8Q55
The Payroll Tax Credit and Other Stimulus Programs for COVID-19
Congress passed several laws to stimulate the economy during the COVID-19 crisis. This includes a payroll tax credit and other stimulus measures.
Why Is My Tax Refund Delayed? 7 Common Reasons
Most tax returns today are processed within three weeks, with many filers receiving their refunds even sooner. Simple errors or oversights can lead to a delay of your tax refund.
States that Don't Tax Military Retirement
Taxing military retirement pay is a decision left up to the states. Find out which states don't tax military retirement and what else you should consider before moving to a state that doesn't tax...
https://turbotax.intuit.com/tax-tips/military/states-that-dont-tax-military-retirement/L6oKaePdA
Diez consejos sobre impuestos para quienes de repente se quedaron sin trabajo
Si te despidieron inesperadamente, es posible que seas elegible para varios beneficios relacionados con el impuesto sobre el ingreso. Perder un empleo siempre es duro, pero estos consejos sobre i...
Aumenta tu cheque salarial sin dejar de recibir un reembolso de impuestos
Si sueles obtener un reembolso de impuestos, pero quieres empezar a tener más dinero en tu bolsillo cada mes, podemos ayudar. Sí, de todos modos, tienes que completar un Formulario W-4. Pero he...
Los pros y contras del Crédito Tributario por Gastos de Cuidado de Hijos Menores y Dependientes
Si le pagas a alguien por cuidar de tus hijos o de otra persona de tu familia mientras trabajas, podrías ser elegible para recibir el Crédito Tributario por Gastos de Cuidado de Hijos Menores y...
Sistema E-file: Presentación electrónica de tu declaración de impuestos
¡Olvida la declaración de impuestos en papel! La presentación electrónica (e-filing), la preparación de impuestos en línea y el pago de impuestos en línea son cada vez más populares cada ...
¿Cómo puedo reclamar a alguien como dependiente en la declaración de impuestos?
Cuando preparas tu delclaración de impuestos federal, es muy probable que quieras conseguir todas las deducciones posibles para reducir los impuestos que debes. Una forma de hacerlo es reclamand...
Impuestos estimados: Cómo determinar cuánto pagar y cuándo hacerlo
Te facilitaremos la tarea de averiguar si tienes que pagar impuestos estimados y, de ser así, cuánto.
¿Tienen todos que presentar una declaración de impuestos?
No todas las personas están obligadas a presentar una declaración de impuestos cada año. Por lo general, si tu ingreso total para el año no supera ciertos límites, no tienes que presentar un...
Video: Consejos para el Cierre del Ejercicio Fiscal
Al terminarse el año fiscal, hay ciertos métodos que puedes elegir para reducir tus impuestos. Mira este video para obtener más información sobre las oportunidades que tienes para este cierre...
Can You Still Take the First-Time Homebuyer Credit?
The first-time homebuyer credit is no longer available for the current tax year, but you may still be working to repay it.
https://turbotax.intuit.com/tax-tips/home-ownership/taking-the-first-time-homebuyer-credit/L5PzXJHFt
¿Cómo encuentro mi Ingreso Bruto Ajustado (AGI) para presentar de forma electrónica mi declaración de impuestos?
Tu Ingreso Bruto Ajustado (AGI, por sus siglas en inglés) es un número importante en términos de impuestos, en especial, si planeas presentar una declaración de manera electrónica. No solo a...
Video: Co?mo presentar tus impuestos en li?nea en tres pasos sencillos
Logramos que el proceso de presentar tus impuestos electrónicamente sea algo sencillo, rápido y seguro. Puedes hacerlo en solo tres simples pasos.
Lista de comprobación para impuestos
Antes de comenzar a preparar tu declaración de impuestos sobre el ingreso, revisa la siguiente lista de comprobación. Te sorprenderá cuánto tiempo puedes ahorrar si organizas tu información ...
https://turbotax.intuit.com/tax-tips/en-espanol/lista-de-comprobacin-para-impuestos/L5PDmW48r
Cómo presentar declaraciones de impuestos federales sobre ingresos de pequeñas empresas
Según el tipo de empresa que tengas, existen diferentes maneras de preparar y presentar tus impuestos.
¿Son los exámenes de ingreso a la universidad deducibles de impuestos?
Las cuotas para tomar el SAT, ACT y otros exámenes de ingreso a la universidad no son deducibles de impuestos, pero el gobierno federal ofrece un número de deducciones educativas y créditos tr...
¿Deberían tú y tu cónyuge presentar sus impuestos de forma conjunta o por separado?
Las parejas casadas tienen la opción de presentar sus declaraciones de impuestos federales sobre el ingreso de forma conjunta o por separado. El IRS (Servicio de Impuestos Internos) incentiva a ...
Aspectos tributarios de ser propietario de una vivienda: Cómo vender una vivienda
Aunque la mayoría de las ganancias por la venta de una vivienda ahora son libre de impuestos, hay algunas medidas que aún puedes tomar para maximizar los beneficios tributarios por la venta de ...
¿Qué son las deducciones tributarias?
La ley tributaria federal te permite deducir varios gastos personales de tu ingreso sujeto a impuestos anualmente. Esto puede hacer una gran diferencia durante la temporada de impuestos, ya que l...
https://turbotax.intuit.com/tax-tips/en-espanol/que-son-las-deducciones-fiscales/L8xq9wUiQ
Consejos para presentar el formulario de impuestos 1040EZ
Los ciudadanos o residentes de los Estados Unidos pueden presentar una declaración de impuestos en los formularios 1040, 1040A o 1040EZ. Existen algunas limitaciones que pueden modificar la cant...
¿Tengo que incluir los ingresos de un dependiente en mi declaración de impuestos?
En algunos casos, quizás sea más fácil y menos costoso que incluyas los ingresos de tus dependientes en tu declaración de impuestos, en lugar de que ellos tengan que presentar su propia decla...
Presentación tardía de la declaración de impuestos
¿Qué sucede si no cumples la fecha límite de presentación del IRS? Obtén más información sobre cómo solicitar una prórroga de impuestos, los pagos tardíos y las multas por presentación...
¿Cuál es el pago mensual mínimo para un plan de pago a plazos del IRS?
¿No puedes pagar tus impuestos sobre ingresos? Quizás califiques para un plan de pago a plazos del IRS (Servicio de Impuestos Internos). El pago mensual mínimo de tu plan depende de cuánto de...
¿Existe un impuesto sobre dividendos? Guía de impuestos sobre dividendos
¿Existe un impuesto sobre dividendos? No todos los dividendos se tratan de la misma manera a la hora de reportarlos en tu declaración de impuestos. A continuación, incluimos algunos consejos p...
Cómo declarar tus impuestos atrasados
Muchos contribuyentes no cumplen con presentar una declaración de impuestos aun cuando es necesario hacerlo. Tu obligación de presentar estas declaraciones nunca se va, pero ponerte al día pue...
https://turbotax.intuit.com/tax-tips/en-espanol/como-declarar-tus-impuestos-atrasados/L8HKWfhYq
El impuesto sobre el trabajo por cuenta propia
¿Iniciaste tu propio negocio, eres un trabajador freelance o trabajas como contratista independiente? Prepárate para pagar el impuesto sobre el trabajo por cuenta propia, un impuesto que jamás...
¿Qué son las auditorías de impuestos?
Una auditoría de impuestos es una revisión de tu declaración de impuestos por el IRS para verificar que reportaste correctamente tus ingresos y deducciones.
https://turbotax.intuit.com/tax-tips/en-espanol/que-son-las-auditorias-fiscales/L8bMH1DuC
Guía para el Formulario de impuestos 1098-T, Declaración de Matrícula
Las universidades u otras instituciones postsecundarias que resulten elegibles tienen que enviar un Formulario 1098-T a cualquier estudiante que haya pagado ?gastos de educación calificados? en ...
Presentación de declaraciones de impuestos de choferes de reparto: consejos y asesoramiento
Sea que apenas estés comenzando o que lleves ya tiempo trabajando, ser un chofer de reparto viene con sus propios matices a la hora de presentar tus impuestos. Aquí cuatro pasos para guiarte a ...
Siete ventajas tributarias por casarse
Hay muchas buenas razones para casarse, entre las que se destacan el verdadero amor y la compatibilidad. Aquí tienes 7 ventajas tributarias por casarse y algunos consejos para hacer que tu luna ...
https://turbotax.intuit.com/tax-tips/en-espanol/siete-ventajas-tributarias-por-casarse/L83kU8SAs
Guía para principiantes sobre impuestos para trabajadores por cuenta propia
Antes de dar el primer paso dentro del mundo de los negocios, hay una lista de tareas que tendrás que hacer a fin de evitar problemas tributarios mientras tu negocio esté en sus primeros años ...
The 10 Most Overlooked Tax Deductions
Don't overpay taxes by overlooking these tax deductions. See the 10 most common deductions taxpayers miss on their tax returns so you can keep more money in your pocket.
https://turbotax.intuit.com/tax-tips/fun-facts/the-10-most-overlooked-tax-deductions/L2WjmvZAH
Datos sobre los planes de pago del IRS
Cuando te atrasas en tus pagos de impuestos, el IRS (Servicio de Impuestos Internos) puede permitirte establecer un plan de pagos a plazos, para que puedas ponerte al día. Sin embargo, te corres...
https://turbotax.intuit.com/tax-tips/en-espanol/datos-sobre-los-planes-de-pago-del-irs/L80Z54mtz
Cómo presentar una declaración de impuestos enmendada al IRS
¿Cometiste un error en tu declaración de impuestos o te diste cuenta que olvidaste reclamar una gran deducción o crédito tributario? Puedes presentar una declaración de impuestos enmendada p...
Cómo reclamar a un cónyuge e hijos que no son ciudadanos en tu declaración de impuestos
Cuando tu cónyuge y tus hijos son ciudadanos estadounidenses, reclamarlos en tu declaración de impuestos es sencillo: simplemente proporciona sus nombres y sus números de Seguro Social. Cuando...
Impuesto sobre las ventas 101 para vendedores en línea
La mayoría de las personas están familiarizadas con el impuesto sobre las ventas (ese porcentaje extra que las tiendas cobran a los clientes en muchos estados). Si eres propietario de una tiend...
¿Debes presentar una declaración de impuestos sobre tus ingresos?
Lo creas o no, puede que haya años en los cuales no tengas que presentar una declaración de impuestos sobre los ingresos ante el Servicio de Impuestos Internos (IRS, por sus siglas en inglés)....
Las 10 deducciones de impuestos que más se pasan por alto
No pagues impuestos de más por pasar por alto estas deducciones. Consulta las 10 deducciones que los contribuyentes más comúnmente pasan por alto en sus declaraciones de impuestos y conserva m...
Cinco cosas que debes saber acerca del impuesto sobre ganancias de capital
Una ganancia de capital se produce cuando vendes algo por más de lo que pagaste para adquirirlo. Esto sucede mucho, particularmente con las inversiones, pero también se aplica a los bienes pers...
Cómo reportar la ayuda de FAFSA para educación en tu declaración de impuestos federal
Cada ayuda financiera que recibes del gobierno federal tendrá consecuencias tributarias distintas y únicas en tu declaración de impuestos federal.
Razones para presentar una extensión en tus impuestos federales
El IRS cada año te concede una extensión automática de para presentar tus impuestos, siempre y cuando completes el formulario 4868.
Reglas para reclamar a un dependiente en tu declaración de impuestos
Reclamar dependientes puede ayudarte a ahorrar miles de dólares en tus impuestos cada año. Sin embargo, muchos de nosotros desconocemos quién puede calificar como nuestro dependiente.
Qué información se necesita para las declaraciones de impuestos
Una declaración de impuestos es un documento que se debe presentar ante el gobierno reportando la cantidad de ingresos que ganó en un año en particular.
Cinco formas ocultas de aumentar tu reembolso de impuestos
Estas son cinco formas infalibles de reducir tu responsabilidad tributaria a la hora de presentar tus impuestos. No pagues más de lo que adeudas o, incluso, aumenta tu reembolso de impuestos.
¿Cómo pagar impuestos sobre las ganancias y pérdidas por apuestas?
Para muchos de nosotros, apostar significa comprar ocasionalmente un billete de lotería en el camino a casa del trabajo, pero el Servicio de Impuestos Internos dice que apostar casualmente tambi...
¿Qué son los créditos tributarios educativos?
Si tú o tu dependiente son estudiantes, es posible que desees determinar si eres elegible para uno de los dos créditos tributarios educativos que cubren los gastos más comunes de los estudiant...
https://turbotax.intuit.com/tax-tips/en-espanol/que-son-los-creditos-fiscales-educativos/L6ygHLluk
Cómo lidiar con las multas por impuestos no pagados
Si no pagas tus impuestos en o antes de la fecha límite, tu deuda no desaparecerá. Incluso puede aumentar, ya que acumula intereses y multas por cada mes que el pago sigue pendiente. El IRS (si...
Situaciones en las que elegir el estado de casado que presenta la declaración por separado te ahorrará impuestos
Si estás casado, existen circunstancias en las que presentar la declaración por separado puede ahorrarte dinero en los impuestos sobre ingresos.
Consejos tributarios sobre el cuidado de un cónyuge discapacitado
Cuidar de un cónyuge discapacitado puede generar estrés financiero, pero tienes oportunidades para reducir la carga. Hay muchos créditos de impuestos y otros beneficios tributarios disponibles...
9 cosas que no sabías que eran deducciones de impuestos
Pocas cosas resultan tan dolorosas como darse cuenta de que te olvidaste incluir una deducción que podría haber reducido tus impuestos federales o aumentado tu reembolso en tu declaración. És...
¿Califico para el Crédito Tributario por Ingreso del Trabajo si recibo compensación por desempleo?
Que recibas beneficios de desempleo no significa que automáticamente dejes de ser elegible para el crédito, pero existen otros requisitos que también tendrás que cumplir a fin de reclamar el ...
Diez consejos sobre impuestos para quienes de repente se quedaron sin trabajo
Si te despidieron inesperadamente, es posible que seas elegible para varios beneficios relacionados con el impuesto sobre el ingreso. Perder un empleo siempre es duro, pero estos consejos sobre i...
¿Dónde está mi reembolso de impuestos? El calendario de tiempos para reembolsos del IRS, explicado
Esto es lo que sucede cuando presionas ese botón verde y transmites tu declaración de impuestos. Recuerda que la manera más rápida de obtener tu reembolso de impuestos es presentando la decla...
¿Puedo reclamar gastos médicos en mis impuestos?
Los gastos médicos pueden ser deducibles de tus impuestos. Aprende que gastos pueden ser deducibles en los impuestos del 2022 que presentarás en el 2023.
Ganancias y pérdidas de capital
¿Qué es un activo de capital y cuánto tienes que pagar de impuestos cuando vendes uno y obtienes una ganancia? Averigua cómo reportar tus ganancias y pérdidas de capital en la declaración d...
https://turbotax.intuit.com/tax-tips/en-espanol/ganancias-y-prdidas-de-capital/L5YhykjVg
Principales deducciones de impuestos para trabajadores por cuenta propia
Ya sea que trabajes por contrato o tengas tu propia pequeña empresa, las deducciones de impuestos para trabajadores por cuenta propia pueden sumar grandes ahorros en impuestos.
Flexible Spending Accounts: A Once-A-Year Tax Break
No health insurance policy covers everything, and that's where Flexible Spending Accounts (FSAs) come in. FSAs are basically bank accounts reserved to pay for your out-of-pocket health care costs...
A Guide to the Capital Gains Tax Rate: Short-term vs. Long-term Capital Gains Taxes
This guide can help you better understand the different rules that apply to various types of capital gains, which are typically profits made from taxpayers? sale of assets and investments.
¿Cuándo clasifica el IRS tu negocio como pasatiempo?
Si tu negocio reclama una pérdida neta durante demasiados años o no cumple con otros requisitos, el IRS (Servicio de Impuestos Internos) podría clasificarlo como pasatiempo, lo que impediría ...
¿Cuál es la diferencia entre AGI (Ingreso Bruto Ajustado)...so Bruto Ajustado Modificado) en tu declaración de impuestos?
Tu Ingreso Bruto Ajustado, o AGI, es un elemento importante en tus impuestos, ya que afecta tu elegibilidad para ciertos beneficios tributarios. Lo mismo ocurre con tu Ingreso Bruto Ajustado Modi...
¿Califico para el Crédito por Ingreso del Trabajo si recibo compensación por desempleo?
Que recibas beneficios de desempleo no significa que automáticamente dejes de ser elegible para el crédito, pero existen otros requisitos que también tendrás que cumplir a fin de reclamar el ...
Tu guía de impuestos sobre criptomonedas
¿Existe un impuesto sobre las criptomonedas? Al invertir en criptomonedas, hay que entender cómo el IRS (Servicio de Impuestos Internos) grava estas inversiones y qué constituye un evento trib...
https://turbotax.intuit.com/tax-tips/en-espanol/tu-gua-de-impuestos-sobre-criptomonedas/L5HK6ytbF
Guía del impuesto sobre las ganancias de capital a corto y largo plazo
Esta guía te puede ayudar a comprender mejor las distintas reglas que se aplican a diversos tipos de ganancias de capital, que, por lo general, son ganancias obtenidas de la venta de activos e i...
Deducción de gastos de campamentos de verano y guardería ...Crédito por Gastos de Cuidado de Hijos Menores y Dependientes
Si pagaste por servicios de guardería, niñera, campamento de verano o de otro proveedor de servicios de cuidado para un hijo menor de 13 años o un dependiente con discapacidad de cualquier eda...
¿Retendrá el IRS mi reembolso si no presenté mi declaración de impuestos el año anterior?
Si te preocupa que el IRS (Servicio de Impuestos Internos) retenga tu reembolso de impuestos porque no presentaste tus declaraciones, tienes un par de opciones para reducir o eliminar toda espera...
¿Cuándo deja de presentar declaraciones de impuestos un ciudadano mayor que recibe beneficios de Seguro Social?
El IRS (Servicio de Impuestos Internos) exige que presentes una declaración de impuestos cuando tu ingreso bruto excede la cantidad de la deducción estándar correspondiente a tu estado civil. ...
Video: Presentando tu Primera Declaración de Impuestos
¿Vas a presentar tu declaración de impuestos por primera vez? Conoce los datos necesarios para enviarle tu declaración al Servicio de Rentas Internas (IRS) sin complicaciones. Mira este video ...
¿Qué son los formularios de impuestos sobre los ingresos?
Los formularios de impuestos sobre el ingreso son los documentos oficiales del gobierno que debes llenar al momento de pagar tus impuestos.
¿Qué porcentaje de las donaciones a iglesias se puede deducir de los impuestos federales?
Al preparar tu declaración de impuestos federales, el IRS (Servicio de Impuestos Internos) te permite deducir las donaciones que haces a las iglesias. Si tu iglesia funciona únicamente con fine...
¿Con qué estado civil tributario se deduce la mayor cantidad de impuestos?
Tu estado civil tributario puede marcar una gran diferencia en la cantidad de impuestos sobre los ingresos que pagas. Por ejemplo, si ganas $40,000 al año, la cantidad de impuestos que pagarás ...
https://turbotax.intuit.com/tax-tips/en-espanol/que-estado-civil-deduce-mas-impuestos/L4qbTTrKZ
Video: Cinco Grandes Deducciones Que Solemos Pasar Por Alto
Entre tantas opciones para deducir impuestos, es común pasar por alto algunas de las más obvias. No te pierdas en el montón y mira este video que puede hacerte ahorrar un poco más de lo que h...
¿Qué son las exenciones de impuestos?
Las exenciones de impuestos se presentan de muchas formas, pero todas tienen en común que reducen o eliminan por completo tu obligación de pagar impuestos. La mayoría de los contribuyentes tie...
https://turbotax.intuit.com/tax-tips/en-espanol/que-son-las-exenciones-fiscales/L4mJfbweh
Deducciones de impuestos que puedes tomar para tu empresa
TurboTax te mostrará las deducciones de impuestos que puedes tomar para ahorrar dinero como propietario de una pequeña empresa.
¿Qué son las deducciones de impuestos detalladas?
A la hora de reducir tu ingreso tributable, detallar tus deducciones puede maximizar tu ahorro en impuestos.
Cómo detallar impuestos cuando reclamas dependientes
Reclamar dependientes y detallar deducciones es una forma efectiva de ahorrar dinero en tus impuestos. Cada dependiente que reclames te permite reducir tu ingreso tributable por una exención par...
¿Son tributables las propinas?
Si eres mesero, cantinero, barista u otro tipo de empleado que recibe propinas, debes entender como esas propinas se reportan en tus impuestos.
Pasos para reclamar a un padre anciano como dependiente
Si cuidas a un padre anciano, él podría calificar como tu dependiente, lo que resultaría en beneficios tributarios adicionales para ti.
5 Datos sobre el Crédito Tributario por Ingreso del Trabajo
Muchos contribuyentes calificados pasan por alto el Crédito Tributario por Ingreso del Trabajo (EITC), y potencialmente pierden miles de dólares en la temporada de impuestos. Aquí 5 datos que ...
¿Cómo puedo presentar declaraciones de impuestos atrasados?
¿Cuándo una persona presentaría impuestos atrasados y cómo suele ser ese proceso?
¿Qué es el Formulario W-9 del IRS?
El Formulario W-9 del IRS (Servicio de Impuestos Internos) se suele usar para proporcionar información necesaria a una persona o empresa que hará pagos a otra persona o empresa. Uno de los caso...
https://turbotax.intuit.com/tax-tips/en-espanol/que-es-el-formulario-w9-del-irs/L3T6LhzDY
¿Con qué cantidad de ingresos debe un menor presentar una declaración de impuestos?
Aunque tus hijos/as sean lo suficientemente jóvenes como para ser tus dependientes, es posible que tengan que pagar impuestos. En algunos casos, quizá puedas incluir sus ingresos en tu declarac...
Consejos sobre impuestos si envías a tus hijos a escuelas privadas o públicas
INFORMACIÓN GENERALA qué escuela enviar a tu hijo suele ser una elección personal. Si eliges la escolaridad privada K-12, algunos beneficios tributarios federales pueden ayudar a reducir el co...
¿Existe un impuesto sobre dividendos? Guía de impuestos sobre dividendos
¿Existe un impuesto sobre dividendos? No todos los dividendos se tratan de la misma manera a la hora de reportarlos en tu declaración de impuestos. A continuación, incluimos algunos consejos p...
Video: Deducciones para los desempleados
Si estás preparando tu declaración de impuestos como desempleado, conoce las diferentes deducciones que te pueden ayudar para obtener todas las exenciones de impuestos posibles.
https://turbotax.intuit.com/tax-tips/en-espanol/video-deducciones-para-los-desempleados/L3eUMgcMY
¿Quiénes pueden embargar reembolsos de impuestos sobre ingresos?
Dependiendo de las leyes de tu estado, es posible que los acreedores privados tengan acceso a esos fondos. Sin embargo, lo mejor es que te informes bien antes de entrar en pánico.
Impuestos federales sobre los ingresos de los trabajadores por cuenta propia
Las personas que trabajan por cuenta propia tienen la misma responsabilidad de pagar los mismos impuestos federales sobre los ingresos que cualquier otra.
Cómo leer las tablas de impuestos federales
Entender cómo se usan las tablas de impuestos federales te permitirá calcular con mayor facilidad cuánto debes de impuestos.
Cómo iniciar una planificación tributaria
Un poco de planificación puede ser de gran ayuda cuando llega la época de impuestos cada año.
https://turbotax.intuit.com/tax-tips/en-espanol/como-iniciar-una-planificacion-fiscal/L336gDz6J
Common Tax Deductions for Construction Workers
Regardless of your trade in the construction industry, allowable tax deductions can lower your tax liability and possibly lead to getting a tax refund. You can deduct common expenses such as tool...
What Happens If I Don?t File Taxes?
Filing taxes might not be at the top of your to-do list each spring, but you should strongly consider it if you earn income?no matter how much or how little.
https://turbotax.intuit.com/tax-tips/general/what-happens-if-i-dont-file-taxes/L3vRea27x
The Most Important Tax Forms for ALEs (Applicable Large Employers)
The Employer Shared Responsibility provisions affect companies with 50 or more full-time employees or an equivalent of part-time or seasonal workers. These companies are called Applicable Large E...
Deducción por el uso comercial del hogar
Un número sin precedentes de trabajadores y empresas han pasado a un modelo de trabajo desde casa. Si ese es tu caso, deberías conocer las importantes consecuencias tributarias que conlleva est...
https://turbotax.intuit.com/tax-tips/en-espanol/deduccin-por-el-uso-comercial-del-hogar/L3101k2ts
Asistencia de seguro médico para desempleados
Contar con un seguro médico puede ayudar a reducir el estrés financiero que genera no tener empleo. Aunque encontrar cobertura a bajo precio se vuelve todo un desafío cuando uno no tiene emple...
Diferencia entre ingresos tributables y no tributables: lo que debes saber
Saber qué reclamar como ingreso tributable o no tributable puede reducir tu responsabilidad fiscal. Esto es lo que debes saber.
When to Use Schedule EIC: Earned Income Credit
The earned income tax credit, or EIC, is available to taxpayers with low to moderate income. It was created in 1975 to help offset the heavy burden of Social Security taxes and act as an incentiv...
What is IRS Form 1040 Schedule 1?
Form 1040 Schedule 1 is used to report certain types of income that aren't listed on the main 1040 form. It's also used to claim some tax deductions.
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-irs-form-1040-schedule-1/L6By94re4
What is Form 8960: Net Investment Income Tax
If you earn income from any of your investments this year, you may have to pay the net investment income tax, in addition to the regular income taxes you owe. You won't know for sure until you fi...
5 razones para declarar tus impuestos temprano
Cada año, muchos contribuyentes esperan hasta el último minuto para presentar sus declaraciones de impuestos federal. A pesar de esta tendencia, hay muchas razones para presentar tu declaració...
Tax Law for Selling Real Estate
If you live in a house for two of the previous five years, you owe little or no taxes on its sale. Knowing the tax laws can make a considerable difference in the tax picture when you sell a build...
https://turbotax.intuit.com/tax-tips/home-ownership/tax-law-for-selling-real-estate/L9PmDNkK5
Cómo se calculan los impuestos de los bonos
Trabajar duro durante todo el año para que tu empresa cumpla sus objetivos anuales merece una recompensa y, definitivamente, te has ganado ese bono. Sin embargo, hay que tener en cuenta que los ...
¿Cuál es mi escala de impuestos?
El sistema federal de impuestos sobre ingresos es progresivo, lo que significa que las tasas de impuestos suben a medida que aumentan tus ingresos sujetos a impuestos. El término "escala de impu...
https://turbotax.intuit.com/tax-tips/en-espanol/cul-es-mi-escala-de-impuestos/L2NWocm6I
What is My Tax Bracket?
The federal income tax system is progressive, which means that tax rates go up the greater taxable income you have. The term "tax bracket" refers to the income ranges with differing tax rates app...
https://turbotax.intuit.com/tax-tips/irs-tax-return/what-is-my-tax-bracket/L3Dtkab8G
Glosario de términos tributarios
¿Te confunden los términos y la jerga de impuestos? Obtén definiciones sencillas en español para que la terminología de tu declaración de impuestos te resulte menos compleja.
https://turbotax.intuit.com/tax-tips/en-espanol/glosario-de-terminos-tributarios/L2nnNiVme
A Self-Employment Tax Guide for Therapists
Do therapists need to pay the self-employment tax? Mental health practitioners can work under a variety of business structures. Learn more about the tax responsibilities of each.
Should I Include a Dependent's Income on My Tax Return?
It may be easier and less expensive to include dependents' income on your tax return rather than have them file their own return?in certain circumstances.
A Tax Filing Factsheet for eBay Sellers
You can find almost anything for sale on eBay, from a piece of fine art to clippings of Justin Bieber?s hair. So it's no surprise that the IRS doesn't view all sellers alike in the online marketp...
Tallying Up the Taxes of Lottery Winnings
If you find yourself holding a lottery ticket that doesn?t bear the winning numbers of an epic Powerball drawing, take heart. Although the odds of winning a Powerball grand prize are only 1 in 29...
https://turbotax.intuit.com/tax-tips/fun-facts/tallying-up-the-taxes-of-powerball-winnings/L7Phwt1yr
5 Steps to Navigate the Health Care Marketplaces
To navigate the Health Insurance Marketplace, you have to know what you want from a health plan. Have your previous plan handy to make comparisons, as well as household and income information. If...
Taxes for Expats
If you live abroad as an American expat and have taxable income, you still need to remain compliant with your U.S. expat taxes.
https://turbotax.intuit.com/tax-tips/general/taxes-for-expats/L26keX1RV
Summer Tax Tips
Smart tax planning happens all year round. Here are four things you can do this summer to improve your standing when tax time rolls around again.
https://turbotax.intuit.com/tax-tips/tax-planning-and-checklists/summer-tax-tips/L2p4BdWpL
The Land of Unknown Tax Deductions
Some tax deductions and credits can get overlooked. Find out which tax deductions and credits you have coming to you so you'll keep more money in your pocket.
Tax Tips for Handymen and Odd Jobs
If you work as a handyman or do odd jobs around town for money, you are operating a business in the eyes of the IRS. Since you own your own business, you're likely a self-employed sole proprietor...
What Are Energy Tax Credits?
Energy tax credits can bring down the effective cost of investing in various energy endeavors the government feels important to support.
https://turbotax.intuit.com/tax-tips/going-green/what-are-energy-tax-credits/L4KbTmTZS
Doce dilemas sobre dependientes: 12 dilemas complejos sobre los dependientes en términos de impuestos
Saber cuándo alguien califica como dependiente para los impuestos puede ser más complejo de lo que parece. Estos 12 ejemplos ayudan a aclarar la confusión sobre a quién puedes reclamar como d...
Guía de deducciones de impuestos para mecánicos
¿Sabías que hay deducciones de impuestos para las herramientas de mecánicos? Si trabajas como mecánico, algunos de tus gastos comerciales clave podrían ser deducibles de impuestos. Descubre ...
Deducción de impuestos por diabetes
El IRS (Servicio de Impuestos Internos) te permite reclamar una deducción de impuestos por muchos de los gastos en que incurres para diagnosticar, supervisar y tratar la diabetes.
https://turbotax.intuit.com/tax-tips/en-espanol/deduccin-de-impuestos-por-diabetes/L2gcv8uK4
Where?s My Second Stimulus Check?
As a part of the Coronavirus Response and Relief Supplemental Appropriations Act recently signed into law, the IRS announced that they have begun issuing a second round of stimulus payments to el...
https://turbotax.intuit.com/tax-tips/tax-relief/wheres-my-second-stimulus-check/L9UouV6fH
Guía para la compensación por desempleo e impuestos
El IRS considera la compensación por desempleo como un ingreso tributable que debes reportar en tu declaración de impuestos. Los gobiernos estatales envían la Forma 1099-G del IRS a cada indiv...
Cómo cambiar tu estado civil en la declaración de impuestos
Elegir el estado civil en tu declaración de impuestos es un importante primer paso para preparar tu declaración federal de impuestos. Tu estado civil determina tu deducción estándar, tasas tr...
Consejos tributarios para extranjeros residentes y no residentes
Aunque no seas ciudadano estadounidense, si vives en los Estados Unidos o gastas una cantidad de dinero significativa en ese país, de todos modos, tienes que pagar el impuesto sobre los ingresos...
Deducciones de impuestos federales para la renovación del hogar
Hay un número de maneras en las cuales puedes utilizar las mejoras o renovaciones en el hogar para minimizar tus impuestos.
Qué es el Ingreso Bruto Ajustado (AGI)
El Ingreso Bruto Ajustado (AGI, por sus siglas en inglés) puede afectar directamente las deducciones y créditos para los que eres elegible, los cuales pueden terminar reduciendo la cantidad del...
https://turbotax.intuit.com/tax-tips/en-espanol/que-es-el-ingreso-bruto-ajustado-agi/L25alTRbo
Starting a Business
When you start your own business, knowing the income tax implications of your decisions can save you money and headaches. Learn about paying estimated income taxes, keeping track of expenses and ...
https://turbotax.intuit.com/tax-tips/small-business-taxes/starting-a-business/L7PBcAdVh
4 Last-Minute Ways to Reduce Your Taxes
Even if you've already earned most of your income for the year, you can still make some common-sense moves to reduce the amount of income taxes you owe in the current tax year.
Tax Considerations for Same-Sex Couples: Married Filing Jointly vs. Separately
Even though same-sex marriages have been nationally recognized since 2015, some couples may still be in a domestic partnership or civil union rather than a marriage. For federal tax purposes, ind...
https://turbotax.intuit.com/tax-tips/marriage/doma-tax-implications-for-same-sex-couples/L1LDCicXw
Tax Filing Tips for Hair Salons, Barbers, and Hairdressers
If you own or work at a barbershop or hair salon, there may be tax deductions that you can take advantage of this tax season.
Tax Guidelines About Gifting
The IRS requires you to report all taxable gifts you make during the year and pay the appropriate tax. However, due to the generous exclusions and deductions available, the average taxpayer never...
https://turbotax.intuit.com/tax-tips/charitable-contributions/tax-guidelines-about-gifting/L6jZIOlnf
A Mechanic's Guide to Tax Deductions
Did you know there are tax deductions for mechanics' tools? If you work as a mechanic, some of your key business expenses may be tax-deductible. Learn how your business structure affects your tax...
Understanding Progressive, Regressive, and Flat Taxes
Progressive, regressive, and flat taxes are all different tax systems governments can deploy. Learn what each of these types of taxation means for you.
Filing Taxes for On-Demand Food Delivery Drivers
Attractive pay with a side of flexibility makes on-demand food delivery an ideal way to put extra cash in your pocket. Like most other income you earn, the money you make delivering food to hungr...
Selling Homemade Goods on Etsy? Use this Tax Preparation Checklist
As an Etsy seller and self-employed businessperson, you must report your net business income on your tax return. To organize your business income and expenses, you can use the Etsy tax preparatio...
Tax Tips for Uber Driver-Partners: Understanding Your Taxes
As an Uber driver-partner, you?re an independent contractor, not an Uber employee. The difference is huge, especially at tax time. Follow these tips to report your income accurately and minimize ...
Tax Deductions for Business Travelers
When you are self-employed, you generally can deduct the ordinary and necessary expenses of traveling away from home for business from your income. But before you start listing travel deductions,...
https://turbotax.intuit.com/tax-tips/jobs-and-career/tax-deductions-for-business-travelers/L83DdTEZ8
5 Situations to Consider Tax-Loss Harvesting
In order to reduce the amount you'll owe during tax season, you can explore selling investments that have lost value from what you paid for them. But first, you should understand what this means ...
Las mejoras del hogar y tus impuestos
Como propietario de una vivienda, tal vez te preguntes si recibirás algún beneficio tributario por el dinero que invertiste en arreglar tu casa. La respuesta depende de los tipos de mejoras que...
https://turbotax.intuit.com/tax-tips/en-espanol/las-mejoras-del-hogar-y-tus-impuestos/L24C6gFUc
¿Qué son los impuestos sobre los ingresos?
Como parte de la Decimosexta Enmienda, los impuestos sobre los ingresos son parte de nuestras vidas. Aquí más información al respecto.
https://turbotax.intuit.com/tax-tips/en-espanol/que-son-los-impuestos-sobre-la-renta/L23XKvRqk
Cómo corregir declaraciones de impuestos federales
El IRS (siglas en inglés de Servicio de Impuestos Internos) tiene un proceso sencillo que te permite modificar tu declaración de impuestos. Averigua la manera de enmendar tu declaración de imp...
Reglas de presentación de impuestos para LLC
Si administras tu empresa utilizando una compañía de responsabilidad limitada (LLC, por sus siglas en inglés), tienes más flexibilidad a la hora de elegir cómo el IRS gravará las ganancias ...
Video: Siete Formas de Ahorrar en Tus Impuestos
¿Quieres ahorrar dinero en tus impuestos de este año? Mira este video para aprender cómo tú puedes ahorrar en tu declaración de impuestos este año.
Tax Tips for Low-Income Filers
If you're a low-income filer, you might be entitled to various tax credits and deductions for which other taxpayers don't qualify.
https://turbotax.intuit.com/tax-tips/irs-tax-return/tax-tips-for-low-income-filers/L1K8i2E2U
¿Qué son los recortes de impuestos?
Los recortes de impuestos son los cambios en la legislación tributaria que disminuyen la cantidad de impuestos que debes pagar.
https://turbotax.intuit.com/tax-tips/en-espanol/que-son-las-reducciones-de-impuestos/L1UmjuBNM
What is Crypto Winter?
You have likely heard of the crypto winter. But what exactly does that mean, and what does it mean for your investments and taxes?
https://turbotax.intuit.com/tax-tips/investments-and-taxes/what-is-crypto-winter/L5Y01RAmy
¿Qué es el Formulario 1099-NEC?
El IRS (Servicio de Impuestos Internos) volvió a introducir el Formulario 1099-NEC como la nueva forma de reportar los ingresos por trabajo por cuenta propia, en lugar del tradicional Formulario...
https://turbotax.intuit.com/tax-tips/en-espanol/que-es-el-formulario-1099-nec/L1t9QYw7R
A Freelancer's Guide to Taxes
Freelancing certainly has its benefits, but it can result in a few complications come tax time. The Internal Revenue Service considers freelancers to be self-employed, so if you earn income as a ...
https://turbotax.intuit.com/tax-tips/self-employment-taxes/a-freelancers-guide-to-taxes/L6ACNfKVW
Video: What Is the Lifetime Learning Tax Credit?
Note: The income amounts in this video apply only to prior tax years. It is included here for reference only. The Lifetime Learning tax credit is available to anyone who takes at least one class ...
¿Puedo presentar una declaración de impuestos sobre los ingresos si no tengo ingresos?
Si en un año tus ingresos son mínimos o no tienes ingresos, puede que no tengas que presentar tu declaración de impuestos y la documentación relacionada. Antes de decidir no presentar tu decl...
Guía para presentar la declaración de impuestos como cabeza de familia
El estado civil para impuestos cabeza de familia típicamente permite una situación tributaria más generosa a los contribuyentes no casados que mantienen un hogar para una persona calificada, c...
Video: Top College Tax Deductions and Credits
Watch this video to learn about the top college tax deductions and credits for students and parents. These are six of the most common deductions and credits that eligible students and their paren...
Tax Tips for Landlords
Here are some often-overlooked tax tips that can help you manage the tax side of your rental property.
https://turbotax.intuit.com/tax-tips/rental-property/tax-tips-for-landlords/L6MQJt7eN
How to Use the W-2G Tax Form to Report Gambling Income
Whether you play the ponies or pull slots, your gambling winnings are subject to federal income tax. By the end of January, you may receive tax Form W-2G Certain Gambling Winnings from the casino...
What If I Did Not File My State Taxes?
As of 2023, the only states that do not charge a state income tax are Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington and Wyoming. If you live or earn money in one of the othe...
https://turbotax.intuit.com/tax-tips/state-taxes/what-if-i-did-not-file-my-state-taxes/L9mbnMbPJ
Tax Tips for Bitcoin and Virtual Currency
Virtual currency like Bitcoin has shifted into the public eye in recent years. Some employees are paid with Bitcoin, more than a few retailers accept Bitcoin as payment, and others hold the e-cur...
¿Qué son los impuestos estatales sobre los ingresos?
Los impuestos estatales sobre los ingresos, que varían según el estado, son un porcentaje del dinero que le pagas al Gobierno estatal en función de los ingresos que obtienes de tu trabajo. Est...
Un mayor y mejor crédito tributario para educación superior
El Crédito Tributario de Oportunidad para los Estadounidenses, que reemplazó al crédito Hope en 2009, abarca una mayor cantidad de años de educación superior y ofrece mayores y mejores benef...
¿Qué es el Formulario 1040A del IRS?
Hasta el año tributario 2017, uno de los tres formularios que puedes utilizar para presentar tu declaración de impuestos federales sobre los ingresos es el Formulario 1040A del IRS.
https://turbotax.intuit.com/tax-tips/en-espanol/que-es-el-formulario-1040a-del-irs/L1MRfOxDu
What are 1095 Tax Forms for Health Care?
The Affordable Health Care Act introduced three new tax forms relevant to individuals, employers and health insurance providers. They are forms 1095-A, 1095-B and 1095-C. These forms help determi...
https://turbotax.intuit.com/tax-tips/health-care/what-are-1095-tax-forms-for-health-care/L9c0dn9wT
¿Cómo obtengo una extensión de impuestos?
Averigua cómo presentar una extensión de impuestos federales y extender la fecha límite de presentación hasta octubre.
https://turbotax.intuit.com/tax-tips/en-espanol/como-obtengo-una-extension-de-impuestos/L1LljU8sQ
Qué son las formas de impuestos 1095 para el cuidado de la salud
La Ley del Cuidado de la Salud a Bajo Precio introdujo tres nuevos formularios de impuestos relevantes para individuos, empleadores y proveedores de seguros de salud. Estos son los formularios 10...
Cómo reclamar impuestos sobre la propiedad en tu declaración
Si pagas impuestos sobre tu propiedad personal y tus bienes raíces, es posible que esos pagos sean deducibles de tus impuestos federales sobre los ingresos. La mayoría de las autoridades tribut...
Cómo comprobar el estado de tu reembolso de impuestos
El IRS (siglas en inglés de Servicio de Impuestos Internos) ha hecho fácil comprobar el estado de tu declaración de impuestos en línea en su página "¿Dónde Está mi Rembolso?"
8 Eventos comunes de la vida que afectan tus impuestos
Si hay una cosa segura y constante en la vida, es que tus impuestos siempre estarán cambiando. Puede ser por eventos en tu vida, o por ajustes frecuentes a la legislación que pueden aumentar o ...
¿Cómo puedo solicitar declaraciones de impuestos federales de años anteriores?
Puedes solicitar declaraciones anteriores al IRS (siglas en inglés del Servicio de Impuestos Internos), por una tarifa.
About Student Loan Tax Deductions and Education Credits
When you use student loan funds to finance your education, if you are eligible, the IRS allows you to claim qualifying expenses that you pay with those funds towards educational tax credits. A ta...
https://turbotax.intuit.com/tax-tips/college-and-education/about-student-loan-tax-credits/L0mIiywan
Declaraciones de impuestos para primerizos
Declarar impuestos no tiene que ser complicado para los principiantes. Cuanto más aprendas sobre el sistema tributario, menos estrés sentirás cuando presentes tu declaración de impuestos por ...
https://turbotax.intuit.com/tax-tips/en-espanol/declaracion-de-impuestos-para-primerizos/L0jRL6N8q
Guía de impuestos para trabajadores independientes: consejos sobre impuestos para trabajadores por cuenta propia
Es posible que volar solo sea la mejor aventura comercial. Cuando tienes tu propio negocio y eres el único empleado, eres tú quien controla todo y tienes la libertad de lograr el equilibrio ide...
Presentación de la declaración de impuestos por parte de repartidores de comida a pedido
La paga atractiva y la flexibilidad que ofrece hacen que el reparto de comida a pedido sea la manera ideal de llevar unos dólares más a tu bolsillo. Como gran parte de los ingresos que recibes,...
¿Qué es una prórroga de impuestos?
El IRS (Servicio de Impuestos Internos) permite que los individuos, las empresas y los patrimonios presenten una declaración de impuestos después de la fecha límite mediante el otorgamiento de...
https://turbotax.intuit.com/tax-tips/en-espanol/qu-es-una-prrroga-de-impuestos/L0GACuNhJ
¿La cuota de registro de tu vehículo es deducible?
Puedes deducir parte de las cuotas de registro de tus vehículos de tus impuestos federales sobre el ingreso, pero solo en algunos casos.
¿Qué son las deducciones estándares tributarias?
La deducción tributaria estándar es una cantidad fija que el sistema tributario te permite deducir, sin hacerte preguntas.
La compra de tu primera vivienda
Comprar tu primera vivienda es un gran paso, pero las deducciones de impuestos disponibles para ti como propietario pueden reducir tu factura de impuestos.
https://turbotax.intuit.com/tax-tips/en-espanol/la-compra-de-tu-primera-vivienda/L0AyqmpGM
¿Qué es el Formulario W-2?
Un Formulario de impuestos W-2 muestra información importante sobre los ingresos que obtuviste de tu empleador, la cantidad de impuestos retenidos de tu cheque salarial, los beneficios proporcio...
https://turbotax.intuit.com/tax-tips/en-espanol/que-es-el-formulario-w-2/L054jwdRz
Acerca de préstamos estudiantiles y créditos tributarios
Cuando utilizas fondos de préstamos estudiantiles para financiar tu educación, el IRS te permite que reclames los gastos educativos calificados cubiertos con esos fondos, para reclamar crédito...
Cómo estimar la retención federal
Elegir la retención óptima te asegurará que no te retengan demasiados o muy pocos impuestos federales de tu salario o sueldo. Utiliza el formulario W-4 para estimar correctamente la cantidad d...
https://turbotax.intuit.com/tax-tips/en-espanol/como-estimar-la-retencion-federal/L00zhsd8I
Buying Your First Home
Buying your first home is a huge step, but tax deductions available to you as a homeowner can reduce your tax bill.
https://turbotax.intuit.com/tax-tips/home-ownership/buying-your-first-home/L5QxJLcQT
What is Form 2120: Multiple Support Declaration?
Taxpayers use Form 2120 when they want to claim a relative as a dependent on their tax return, but they don?t pay enough of the cost of supporting that relative to do so under normal tax rules. I...
Tax Tips for New College Graduates
It's never too early to start planning for your financial future. Here are some key tax tips for people who are nearing graduation or have just finished an undergraduate degree.
Tax Filing Requirements for Children
The IRS requires that all taxpayers file a tax return, regardless of age.
https://turbotax.intuit.com/tax-tips/family/tax-filing-requirements-for-children/L8ice6z0K
Capital Gains and Losses
What is a capital asset, and how much tax do you have to pay when you sell one at a profit? Find out how to report your capital gains and losses on your tax return with these tips from TurboTax.
https://turbotax.intuit.com/tax-tips/investments-and-taxes/capital-gains-and-losses/L7GF1ouP8
Key Dates for Affordable Care Act (ACA) Open Enrollment
The Affordable Care Act (ACA) open enrollment periods vary from year-to-year, but are expected to continue to be late in fall to early winter. Being aware of health care reform key dates can m...
https://turbotax.intuit.com/tax-tips/health-care/know-the-key-dates-for-health-care-reform/L4yxmJYiM
Video: What Is the Standard Tax Deduction?
Note: The reference to the standard deduction amount in this video applies only to taxes prepared for 2010. It is included here for reference only. Standard tax deduction give taxpayers the optio...
Taxes and Reducing Debt
By allowing deductions for certain kinds of interest, Congress is happy to help subsidize your debt. Be sure to accept these invitations to save yourself money.
https://turbotax.intuit.com/tax-tips/debt/taxes-and-reducing-debt/L7qfzotzX
Is Social Security Disability Income Taxable?
To qualify for Social Security Disability Insurance, you must meet certain conditions. We?ll help you navigate your eligibility and tax responsibility for Social Security disability income.
https://turbotax.intuit.com/tax-tips/disability/is-social-security-disability-taxable/L5fPDpT4P
Conserve Energy, Save Money with Larger Credits
The Inflation Reduction Act made it possible for millions of Americans to save money on their taxes and utility bills through conserving energy.
4 Tax Credits and Deductions for Retiring Baby Boomers
If you have just retired or are planning retirement, there are key tax deductions and credits that can help you save money.
What Are Standard Tax Deductions?
The standard tax deduction is a fixed amount that the tax system lets you deduct from your income, no questions asked.
What Is IRS Form 6251?
Form 6251 is used by taxpayers to calculate their AMT or to determine if they are subject to it.
https://turbotax.intuit.com/tax-tips/irs-tax-return/what-is-irs-form-6251/L1hK7F3uq
New Addition: Adoption Tax Credits
Learn how the adoption tax credit works and how you can claim it to get help balancing your finances when you welcome a new family member.
https://turbotax.intuit.com/tax-tips/family/new-addition-adoption-tax-credits/L69hPmzJB
Tax Tips for the Legally Disabled
Several tax breaks are available for people living with disabilities. These tax breaks aren't always obvious, though. You have to know where to look for them.
https://turbotax.intuit.com/tax-tips/disability/tax-tips-for-the-legally-disabled/L2YSQyIaq
A Guide to the 1098 Form and Your Taxes
There are four different versions of the 1098 form. Learn how they could impact your taxes and when you might be required to file one with the IRS.
https://turbotax.intuit.com/tax-tips/home-ownership/guide-to-1098-tax-forms/L8s74M2aZ
Best Ways To Prepare and File Taxes
You have several options for preparing your taxes. But, which is the best way to prepare and file taxes to get your return done quickly and correctly?
https://turbotax.intuit.com/tax-tips/general/best-ways-to-prepare-and-file-taxes/L6S31cUHb
Filing Taxes for the First-Timer
Filing taxes doesn't have to be complicated for newcomers. The more you learn about the tax system, the less stress you'll feel when filing your first tax forms.
https://turbotax.intuit.com/tax-tips/general/filing-taxes-for-the-first-timer/L9ME97Qot
Boost Your Retirement Savings
For most taxpayers, saving for retirement is the best way to lower your taxes and to build a sizable nest egg. TurboTax will help you take advantage of the tax deductions related to saving for yo...
https://turbotax.intuit.com/tax-tips/retirement/boost-your-retirement-savings/L3lryQHVz
What Filing Status Deducts the Most Taxes?
Your filing status can make a big difference in how much income tax you pay. If you make $40,000 a year, for instance, the amount of tax you will pay depends on which filing status you qualify fo...
¿Qué es el Formulario 1099 del IRS?
El Formulario 1099 consta de una serie de documentos a los que el IRS (Servicio de Impuestos Internos) se refiere como ?declaración informativas?. Existen varios Formularios 1099 diferentes en l...
What is Tax Lien Investing?
If you're a new investor, it pays to explore all of your options. Learn how investing in a tax lien works, how this process is carried out, and what kind of returns it might provide.
https://turbotax.intuit.com/tax-tips/investments-and-taxes/what-is-tax-lien-investing/L8ZzoYeaE
What Is a Consumption Tax?
Several of the common taxes you might pay on a regular basis ? including sales tax ? are classified as consumption taxes. Learn what this form of taxation means for your finances and how it works...
https://turbotax.intuit.com/tax-tips/general/what-is-a-consumption-tax/L6Y0smof5
Guide to Investment Bonds and Taxes
For new investors, it can be hard to determine your tax liabilities from your investments. Reading up on the available types of bonds and their tax consequences can help you make informed decisio...
Should Taxes on Stock Influence Your Decision to Buy or Sell?
Buying and selling stocks has tax implications. You'll need to report capital gains and dividends as well as use any losses to offset gains and other income. Learn how taxes can influence your de...
8 Things You Think Are Tax Deductible That Aren't
There's a fine line between looking to save money on your taxes and taking deductions that will raise eyebrows at the IRS. Some taxpayers are tripped up by expenses that they assume are tax deduc...
5 Tips for How to File Taxes for the First Time
Filing your taxes on your own for the first time is a major life milestone. Here's some friendly advice to help ensure you dot all of your i's and cross your t's.
https://turbotax.intuit.com/tax-tips/general/tips-for-how-to-file-taxes-for-the-first-time/L6nNi6uJn
What Is the IRS Form 8880?
Are you eligible for the Saver's Credit? IRS Form 8880 will help you determine if you are eligible this credit for retirement savings. Here are the details.
https://turbotax.intuit.com/tax-tips/investments-and-taxes/what-is-the-irs-form-8880/L0mePsZju
Video: Federal Tax Deductions for Home Renovation - Clone
Note: The content of this video applies only to taxes prepared for 2010. It is included here for reference only. Learn about federal tax deductions for home renovation with help from TurboTax in ...
Video: Federal Tax Deductions for Home Renovation
Note: The content of this video applies only to taxes prepared for 2010. It is included here for reference only. Learn about federal tax deductions for home renovation with help from TurboTax in ...
How to Obtain a Copy of Your Tax Return
You can request copies of your IRS tax returns from the most recent seven tax years.
Tax Considerations for Gig Economy Workers with Multiple Jobs
Taxes can be tricky for gig economy workers with multiple jobs. Keeping track of your income and reporting it accurately are key.
Top Tax Deductions for Massage Therapists
As a massage therapist, you know how to take care of your clients? well-being?but you might need some help of your own when it comes to tax time. We?ve got your back! Read on to learn about the t...
Consejos sobre impuestos para conductores de Uber, Lyft y otros servicios de viajes compartidos
Si eres conductor de una empresa de viajes compartidos como Uber, Lyft u otro servicio del mismo tipo, lo más importante que debes entender sobre tus impuestos es que, probablemente, no seas un ...
Selling on Etsy & Your Taxes
Selling your kid's old bicycle is not likely to cause any tax consequences, but when you sell crafts, vintage or specialty items on websites like Etsy, you must report and pay taxes on your net i...
https://turbotax.intuit.com/tax-tips/self-employment-taxes/selling-on-etsy-your-taxes/L27I196Wu
What Are Federal Taxes?
The U.S. Constitution authorizes the federal government to collect various types of taxes from you.
https://turbotax.intuit.com/tax-tips/general/what-are-federal-taxes/L4M1hVs8j
Everything to Know About the 1040-SR Form for Filing Seniors
Some recent changes to Form 1040 mean slightly different filing options available for seniors. Here's what you need to know about eligibility requirements and reporting for this new version of Fo...
¿Vendes en Etsy artículos hechos en casa? Usa esta lista para preparar tus impuestos
Si vendes artículos en Etsy y eres trabajador por cuenta propia, debes reportar tu ingreso comercial neto en tu declaración de impuestos. Para organizar tus ingresos y gastos comerciales, puede...
Los seis mejores consejos sobre impuestos para trabajadores independientes de la economía compartida
Nunca fue tan fácil ganar algunos dólares extra: tanto si eres chofer en una empresa de viajes compartidos como Uber, si alquilas una habitación a través de un servicio de alquiler como Airbn...
Impuestos de PayPal y Venmo: lo que debes saber sobre las plataformas P2P
Con el aumento en el uso de aplicaciones de pago móvil, tal vez te preguntes cómo afecta eso tu declaración de impuestos. Esto es lo que debes saber para usar estas herramientas de manera efec...
PayPal and Venmo Taxes: What You Need to Know About P2P Platforms
With the increased use of mobile payment apps, you may wonder ? how do these apps affect your taxes? Here's what you need to know to use these tools effectively for yourself or your business.
Cómo presentar declaraciones de impuestos con el Formulario 1099-NEC del IRS
Si recibes un Formulario de impuestos 1099-NEC por servicios que brindaste a un cliente como contratista independiente y los pagos anuales que cobras son por un total calculado de $400 o más, la...
The Lowdown on Education Tax Breaks
College is more expensive than ever, but credits and deductions can help you cut thousands off your 2023 tax bill.
10 consejos de impuestos para alquileres vacacionales por Airbnb, HomeAway y VRBO
A raíz de la creciente popularidad de Airbnb y otros mercados de alquileres vacacionales, cada vez más personas alquilan sus viviendas y descubren una nueva serie de cuestiones tributarias que ...
10 Things You Won't Believe Are Taxed
From Fantasy Football to cancelled debt, here are 10 things taxed by the IRS that might surprise you.
https://turbotax.intuit.com/tax-tips/fun-facts/10-things-you-wont-believe-are-taxed/L3tQz7kej
What is Form 1065?
Form 1065 is used by domestic and some foreign partnerships to declare profits, losses, deductions, and credits for their tax year.
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-form-1065/L5UpOREHb
Video: Federal Gift Tax Law
Note: The content of this video applies only to taxes prepared before 2011. It is included here for reference only. The federal gift tax law imposes taxes on large gifts that exceed a certain amo...
https://turbotax.intuit.com/tax-tips/estates/video-federal-gift-tax-law/L6CNuAwQF
Video: What Are Federal Taxes?
Federal taxes are taxes a person pays directly to the government of the United States. Research federal taxes with help from TurboTax in this video clip.
https://turbotax.intuit.com/tax-tips/general/video-what-are-federal-taxes/L0P8yaQaQ
Can Debt Forgiveness Cause a Student Loan Tax Bomb?
People who benefit from student loan forgiveness may be wondering about the tax consequences of this debt relief option, including a potential "student loan tax bomb." Your student loan repayment...
How Do You Get a Business Tax ID Number?
Does your business employ workers, withhold taxes, or operate as a corporation or partnership? If so, you need an Employee Identification Number. Follow these 4 steps to obtain one.
Summary of Business Tax Law Changes 2010-2017
Learn how federal tax law changes could impact your small business returns this year, and in the future. Here is a summary of all business tax law changes between 2010 - 2017.
What is IRS Form 8829: Expenses for Business Use of Your Home
One of the many benefits of working at home is that you can deduct legitimate expenses from your taxes. The downside is that since home office tax deductions are so easily abused, the Internal Re...
What Is Form 8941: Credit for Small Employer Health Insurance Premiums
Small business owners who subsidize the cost of employee health insurance premiums may be able to get some of that money back by claiming the credit for small employer health insurance premiums o...
Little-Known Tax Tips for Small-Business Owners
At tax time, small businesses look for ways to save money and maximize credits and deductions. ?One of the most overlooked ways for small businesses to save at tax time starts at the beginning of...
Does Your Company Need to File Form 1095-B?
A company is responsible for filing IRS Form 1095-B only if two conditions apply: It offers health coverage to its employees, and it is "self-insured." This means that the company itself pays its...
What is Form 8995?
If your work qualifies you for certain business deductions on your taxes, you may need to use Form 8995.
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-form-8995/L7dqp7NMg
Business Tax Preparation
Doing your business tax return? We've got tips for you on which records you should have at your fingertips, including last year's return, payroll reports and depreciation schedules.
https://turbotax.intuit.com/tax-tips/small-business-taxes/business-tax-preparation/L4qFPmb5K
How an S-Corp Can Reduce Your Self-Employment Taxes
If you're self-employed, one way to help avoid higher Social Security and Medicare taxes is to organize your business as an S-corporation.
Mobile Phones, Internet and Other Easy Tax Deductions
You may be able to take a tax deduction on the cost of some of high-tech gadgets that help you streamline your work.
Limited Liability Company Taxes
Self-employment has its benefits. An LLC can help reduce your liability without reducing your freedom to run your business as you see fit. And we have you covered at tax time, with TurboTax Home ...
https://turbotax.intuit.com/tax-tips/small-business-taxes/limited-liability-company-taxes/L5TDDlstC
When and How to Incorporate
If you've been in business for a while as a sole proprietor, you may be wondering whether it would be a good idea to incorporate. We can help you make that decision with information on: why a bus...
https://turbotax.intuit.com/tax-tips/small-business-taxes/when-and-how-to-incorporate/L3kNVleiX
Video: Guide to Payroll Taxes
As an entrepreneur, you probably realize that there are some business expenses you just can't control?like the payroll taxes you have to pay for yourself and each person you employ. Watch this vi...
https://turbotax.intuit.com/tax-tips/small-business-taxes/video-guide-to-payroll-taxes/L4RvoiYQn
How to Get a Small Business Loan and Navigate the Tax Implications
Small business loans like the SBA 7(a) loan can be a crucial lifeline for your company. But how do these loans affect your taxes?
Start-up Business Tax Tips
Starting your own business has always been the American dream. To be your own boss and earn a living by doing what you love definitely has its benefits. But the possible high costs associated wit...
https://turbotax.intuit.com/tax-tips/small-business-taxes/startup-business-tax-tips/L7SOyYMzr
Is Interest on Credit Cards Tax Deductible?
The IRS allows you to deduct certain expenses from your total income to arrive at taxable income, which is the portion of your earnings that is subject to tax. Some of these expenses include your...
Closing a Business
If you're planning to close a business, don't forget to put the IRS on your to-do list, because tax rules require you to keep the tax agency in the loop. TurboTax can help with reporting the sale...
https://turbotax.intuit.com/tax-tips/small-business-taxes/closing-a-business/L3pbEl8of
What Is IRS Form 720?
If you own a business that deals in goods and services subject to excise tax, you must prepare a Form 720 quarterly to report the tax to the IRS.
https://turbotax.intuit.com/tax-tips/small-business-taxes/what-is-irs-form-720/L7PrBcYjz
What Is the IRS Form 941?
You must file IRS Form 941 if you operate a business and have employees working for you. Certain employers whose annual payroll tax and withholding liabilities are less than $1,000, might get app...
https://turbotax.intuit.com/tax-tips/small-business-taxes/what-is-the-irs-form-941/L4mA9LHER
Taking Business Tax Deductions
TurboTax will show you the money-saving tax deductions you can take as a small business owner.
https://turbotax.intuit.com/tax-tips/small-business-taxes/taking-business-tax-deductions/L5RueYPVS
LLC Tax Filing Rules
If you operate your business using a limited liability company (LLC), then you have more flexibility in choosing how the IRS taxes your business earnings. Your choice will directly influence the ...
https://turbotax.intuit.com/tax-tips/small-business-taxes/llc-tax-filing-rules/L39E29kPR
Video: IRS Rules for Reasonable Business Expenses
You can only deduct business expenses on your income taxes that the IRS deems "reasonable."
7 Ways Small Business Owners Can Reduce Their Tax Bill
You can reduce your tax obligations as a small business owner through several potential money saving opportunities.
Depreciation of Business Assets
In an effort to stimulate the economy by encouraging businesses to buy new assets, Congress approved special depreciation and expensing rules for acquired property.
https://turbotax.intuit.com/tax-tips/small-business-taxes/depreciation-of-business-assets/L4OStLQEL
Video: Tax Tips for Small Businesses
Small businesses have certain tax rules available to them that can help reduce the amount of money owed in taxes each year. Get tax tips for small business tax rules with help from TurboTax in th...
What Is the IRS Form 4562?
If you've purchased property to use in your business, you can deduct a portion of your costs by claiming a depreciation deduction and reporting it on IRS Form 4562.
https://turbotax.intuit.com/tax-tips/small-business-taxes/what-is-the-irs-form-4562/L6gi8XwN6
Tax Advantages to Incorporating
To be successful and hold the line financially, however, tax experts agree that even the smallest of businesses may benefit by incorporating.
https://turbotax.intuit.com/tax-tips/small-business-taxes/tax-advantages-to-incorporating/L4fk7rCx2
Selling Rental Real Estate at a Loss
You may own rental real estate that you need to sell at a loss. To help ease the pain, losses from selling rental properties generally receive favorable tax treatment.
https://turbotax.intuit.com/tax-tips/rental-property/selling-rental-real-estate-at-a-loss/L2RKgClm4
Video: Deducting Charitable Contributions
You can deduct most or all of your charitable contributions. Just be sure to follow the IRS's hard-and-fast rules.
Video: What Is a 529 Plan Contribution?
A 529 plan contribution is a way to save some money on taxes through contributions to an account that can be used for education expenses. Get the facts on a 529 plan contribution with help from T...
Get Next Year's Refund Starting Next Pay Day
Changing your W-4 withholding can help put more money in your pocket today, and keep the good times rolling.
What Is Taxable Income?
While taxable income can include wages, salaries, bonuses, commissions and tips, it may not be as easy to define as you might think.
https://turbotax.intuit.com/tax-tips/general/what-is-taxable-income/L8lh6lfkJ
How to Write Off Sales Taxes
The Internal Revenue Service (IRS) permits you to write off either your state and local income tax or sales taxes when itemizing your deductions. People who live in a state that does not impose i...
A Guide to Commonly-Used IRS Tax Forms
This primer will help you decode the alphabet soup of IRS forms and understand your tax return.
https://turbotax.intuit.com/tax-tips/irs-tax-forms/a-guide-to-commonly-used-irs-tax-forms/L7YJv3Sbh
State Tax Filing for Same-Sex Couples
Many states and the District of Columbia now allow same-sex couples to file joint returns. With this right comes tax complications for qualifying couples.
https://turbotax.intuit.com/tax-tips/marriage/state-tax-filing-for-same-sex-couples/L1aZjbQMj
How to Estimate Federal Withholding
Adjusting your withholding will ensure that you don't have too much (or too little) federal income tax withheld from your paycheck. Use Form W-4 to let your employer know how much you want them t...
https://turbotax.intuit.com/tax-tips/irs-tax-forms/how-to-estimate-federal-withholding/L99CO0yTK
Tax Breaks and Home Ownership
Home ownership brings with it not only many trips to home improvement stores, but also a slew of tax breaks. It's up to you to take full advantage of the write-offs available to you. Here's what ...
https://turbotax.intuit.com/tax-tips/home-ownership/tax-breaks-and-home-ownership/L1EXrbgIg
Are 501C3 Stock Investment Profits Tax-Exempt?
As long as a 501(c)(3) corporation maintains its eligibility as a tax-exempt organization, it will not have to pay tax on any profits.
What Are Tax Laws?
The legal rules and procedures that govern how federal, state and local governments calculate the tax you owe are called tax laws.
https://turbotax.intuit.com/tax-tips/general/what-are-tax-laws/L9fCRbXPc
What Is a Schedule E IRS Form?
If you earn rental income on a home or building you own, receive royalties or have income reported on a Schedule K-1 from a partnership or S corporation, then you must prepare a Schedule E with y...
https://turbotax.intuit.com/tax-tips/rental-property/what-is-a-schedule-e-irs-form/L8h73YEqU
What Are Disability Tax Credits?
The elderly and disabled can receive a tax credit that could reduce and even potentially eliminate the tax they owe for the entire year. Here's how to figure out if you qualify.
https://turbotax.intuit.com/tax-tips/disability/what-are-disability-tax-credits/L7HH8FNLG
What Are Itemized Tax Deductions?
When it comes to reducing your taxable income, itemizing your deductions can really maximize your tax savings.
Learn About the American Opportunity College Tax Credit
Is college tuition in the future for you or your kids? Then check out this expanded federal tax break. The new American Opportunity Tax Credit extends bigger financial benefits to many more colle...
What Is My Income Tax Deduction Based On?
Tax deductions allow you to reduce the amount of your income that is subject to income tax. These deductions are based on a variety of factors. Some relate to expenses you pay during the year whi...
Tax Time: How to Get Out of Your Own Way
Getting organized and having a plan when its time to do your taxes can make the job a lot easier.
What is a Tax Table?
If you're not sure how much to report on your taxes or how to calculate the correct amount, a tax table may come in handy. Read on to learn more about what exactly this table is, how to use it, a...
https://turbotax.intuit.com/tax-tips/irs-tax-return/what-are-tax-tables/L0RM3YNuA
Top 8 Year-End Tax Tips
Learn these top 8 year-end tax tips in order to maximize your tax refund or minimize the taxes you owe.
https://turbotax.intuit.com/tax-tips/tax-planning-and-checklists/top-8-year-end-tax-tips/L5szeuFnE
About Tax Deductions for a Mortgage
You can deduct the interest that you pay on your mortgage loan if the loan meets IRS mortgage requirements.
https://turbotax.intuit.com/tax-tips/home-ownership/about-tax-deductions-for-a-mortgage/L2NEBzLjY
What is an Enrolled Agent for Taxes?
Enrolled agents (EAs) are tax professionals authorized to represent taxpayers before the IRS. These agents have "unlimited practice rights," meaning that they are allowed to represent any kind of...
https://turbotax.intuit.com/tax-tips/tax-pro/what-is-an-enrolled-agent-for-taxes/L6WXJ82Dl
Video: Do I File My Unemployment as Wages on My Tax Return?
You don't report your unemployment income as wages, but you still have to report it.
Need More Time? File a Tax Extension
If you need more time to complete your taxes, file a tax extension. But don't miss out on your chance for a refund by not filing at all.
Tapping Your Inner Freeloader: 11 Tried and True Tips to Get Things Free
Looking to get stuff for free? Become the ultimate Freeloader with these 11 tried and true tips. Learn how to score hookups from your friends, get free music, and score free money with our guide ...
How to Start Tax Planning
A little tax planning can be a big help at tax time each year.
https://turbotax.intuit.com/tax-tips/tax-planning-and-checklists/how-to-start-tax-planning/L30mdQSJQ
How to Report FAFSA College Money on a Federal Tax Return
Each financial award you receive from the federal government will have separate and unique tax consequences for your federal tax return.
Federal Tax Laws on Mileage Reimbursement
Does your employer require you to do some traveling using your own car? Federal tax law allows you to claim a deduction for the business mileage if you're not reimbursed for the expense.
Video: 1099-K Form Reporting Delay: Everything You Need to Know
The IRS announced a delay in the 1099-K reporting threshold. Lisa Greene-Lewis, CPA and TurboTax tax expert, explains what you need to know for your 2022 taxes.
Tax Topics for Freelancers, Contractors, and Consultants
As a freelancer, independent contractor, or consultant, you have a variety of tax issues to consider?including ways to trim your tax bill.
Form 1099-K Decoded for the Self-Employed
The IRS Form 1099-K tracks income received through third-party payment methods, like credit cards, PayPal, and other payment services. Here?s what you need to know about this form and how to avoi...
Tax Considerations for Fantasy Sports Fans
Fantasy sports leagues can yield hefty winnings if Lady Luck smiles on you. If you win big?or even not so big?you'll need to save a portion of that money for the Internal Revenue Service (IRS). W...
https://turbotax.intuit.com/tax-tips/general/tax-considerations-for-fantasy-sports-fans/L75xYecdS
Tax Tips for Bloggers
Blogging is a relatively new profession, but it's covered by the same tax laws that apply to many other occupations. You may be able to take advantage of certain deductions to reduce your tax bil...
https://turbotax.intuit.com/tax-tips/self-employment-taxes/tax-tips-for-bloggers/L8hqquuc9
Self-Employed Less Than a Year? How to Do Your Taxes
Have you been self-employed less than a year? If you?re just starting out, it?s possible you worked at a job earlier in the tax year before making the switch to self-employment, or you?re working...
When the IRS Classifies Your Business as a Hobby
If your business claims a net loss for too many years, or fails to meet other requirements, the IRS may classify it as a hobby, which would prevent you from claiming a loss related to the busines...
How to Use Your Lyft 1099: Tax Help for Lyft Drivers
Whether you drive for Lyft full-time or part-time, you?re now enjoying the pay, perks, and prerogatives of being self-employed?from setting your own hours to building customer relations. With the...
Tax Tips for Lyft Drivers: Ridesharing Taxes
When you?re a driver for Lyft, the most important thing to understand is that ridesharing drivers are independent contractors, not employees. That?s why Lyft doesn?t withhold taxes from your ride...
IRS Form 1099-K: What Online Business Owners Should Know
If you accept credit card payments online, you may have to report payments that you receive from credit card or third-party processors on your 1099-K forms.
Video: Biggest Tax Write-Offs for the Self-Employed
There are a number of deductions to keep in mind for self-employed individuals. Lisa Greene-Lewis, CPA and TurboTax tax expert, provides a guide to tax savings.
Driving for Lyft? Use This Tax Preparation Checklist
So, you decided to become your own boss (at least part-time) and start driving for a ride-sharing company like Lyft. Use the Lyft tax preparation checklist below to organize your income and deduc...
Are Crowdfunding Donations Tax Deductible?
Crowdfunding platforms such as GoFundMe have made it easy to donate to your favorite cause or someone in need. If you?ve donated, you?ll need to know the deduction rules.
Taxes 101 for TaskRabbit Taskers
TaskRabbit is an online and mobile marketplace that matches users with "Taskers," the providers of personal services, such as house cleaning, gardening, running errands, doing chores, planning pa...
Did You Get a Form 1099-K and Aren?t Self-Employed or a Small Business?
If you receive payments either by electronic transfer or credit card, you may receive Form 1099-K and possibly need to report some or all of the income that you receive.
Tax Law Changes That Can Fatten Your Refund
Some changes to tax relief options and forms could mean good things for your refund. Learn about a few basic steps you can take in areas such as your retirement account and energy spending to pot...
Top 6 Tax Tips for Sharing Economy Freelancers
It's never been easier to earn a few extra dollars: Whether you drive for a ride-share company like Uber, rent out a room through a rental service such as Airbnb, or work for a company like TaskR...
10 Tax Tips for Airbnb, HomeAway & VRBO Vacation Rentals
With the rising popularity of Airbnb and other vacation rental marketplaces, more and more people are renting their homes and learning about a new set of tax issues that come with it. When you of...
Video: PayPal and Venmo Taxes: Tax Rules and 1099-K Form Explained
CPA and TurboTax tax expert Lisa Greene-Lewis is here with the rules around third-party cash apps and the forms you'll need for tax filing.
10 Surprising Ways You May Be Self-Employed
In today's economy, a "gig" means more than just a band booking a show at a local bar. These days, millions of taxpayers?from millennials to baby boomers?rely on many ways to earn extra money or ...
What is Form 1095-A: Health Insurance Marketplace Statement
If you bought health insurance through one of the Health Care Exchanges, also known as Marketplaces, you should receive a Form 1095-A that provides information about your insurance policy, your p...
Alternative Minimum Tax: Common Questions
The Alternative Minimum Tax (AMT) was designed to keep wealthy taxpayers from using loopholes to avoid paying taxes. But because it was not automatically updated for inflation, more middle-class ...
What is IRS Form 8615: Tax for Certain Children Who Have Unearned Income
Typically, children are in a lower tax bracket than their parents and the reason for this is quite simple: most children don't have that much income, and those that do, rarely earn more than thei...
Self-Employed Federal Income Taxes
Self-employed people are responsible for paying the same federal income taxes as everyone else.
When to Use Tax Form 4137: Tax on Unreported Tip Income
You may need to use IRS Form 4137 to calculate any additional tax you may owe on unreported tip income.
Tax Tips After January 1, 2024
Your tax bill isn't chiseled in stone at the end of the year. Here are 10 tax tips and steps you can take after January 1 to help you lower your taxes, save money when preparing your tax return, ...
What Are State Income Taxes?
State Income taxes, which vary by state, are a percentage of money that you pay to the state government based on the income you make at your job. Here are the details.
https://turbotax.intuit.com/tax-tips/state-taxes/what-are-state-income-taxes/L4O5May37
Do You Have to File an Income Tax Return?
Believe it or not, there may be years when you don't have to file an income tax return with the Internal Revenue Service. To make this determination, you need to evaluate a number of factors, suc...
Take Advantage of Two Education Tax Credits
The American Opportunity credit and the Lifetime Learning tax credit can make higher education costs more affordable.
Victims of Hurricane Isaac Benefit From IRS Tax Filing and Payment Extensions
Affected individuals and businesses in areas of Louisiana and Mississippi are getting a helpful leg-up from the IRS. Their deadline to return file and/or submit tax payments has been extended fro...
Billions WordPress Theme
Billions is a highly customizable and search engine optimized WordPress theme that can take any website to the next level.
https://turbotax.intuit.com/tax-tips/fun-facts/billions-wordpress-theme/L0CAsQ23a
Tax Tips for Registered Domestic Partners and Unmarried Same Sex Couples in Community Property States
Unmarried domestic partners can submit only individual 1040s; they cannot file jointly. How you handle 1040 forms depends on which community property state you call home.
Video: Calculating Taxes on IRS Form 1099 Misc
Did you receive a 1099-MISC in the mail this year? If it reports an amount in box 7 for non-employee compensation, calculating the tax on it isn't as difficult as you may think. Watch this video ...
Earthquake Retrofitting Tax Breaks for Californians
When a moderate earthquake hit Napa, California, in 2014, it cost individual homeowners as much as $300,000 to repair their homes. Most were older structures that weren?t equipped to stand up eve...
What Is IRS Form 5498: IRA Contributions Information?
Form 5498: IRA Contributions Information reports your IRA contributions to the IRS. Your IRA trustee or issuer - not you - is required to file this form with the IRS by May 31.
Tax Time Scams You Should Avoid
Whether it's phishing, identity theft, or hidden fees, tax season can bring out the scammers in full force. Learn how to protect yourself from the most common tax scams.
https://turbotax.intuit.com/tax-tips/security/tax-time-scams-you-should-avoid/L0rtre77W
11 Strange State Tax Laws
While the federal tax code may be complicated, state tax laws can be just as convoluted. Read about these twelve strange state tax laws and how they are generating tax income in ways that are bot...
https://turbotax.intuit.com/tax-tips/fun-facts/12-strange-state-tax-laws/L4qENY2nZ
Tax Strategies for an Early Retirement
Retirement. The word sounds so good to so many people because of what it implies: a life of leisure, free of the daily grind of workdays that last at least eight or nine hours and as many as 10 o...
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Filing Taxes While Overseas
American citizens could owe taxes in two countries. If you've never lived abroad for an extended period of time, you probably don't know the United States requires its citizens to continue to pay...
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10 Popular Tax Deductions
Tax deductions lower your taxable income and the amount of income tax you have to pay. If you want to lower your tax bill, consider these popular tax deductions.
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Sending Kids to College
TurboTax can help you take advantage of tax breaks to ease the financial burden of sending kids to college, including tax credits, tuition deductions, tax-free savings and more.
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Getting Your First Job
Welcome to the real world! Now that you're earning money, use these tips to trim your tax bill.
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Cost Basis: Tracking Your Tax Basis
Cost Basis or Tax Basis? Whatever you call it, don't fear it. TurboTax helps you figure it out, and makes preparing your tax return easier.
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What is IRS Publication 590?
Need more information on Individual Retirement Accounts (IRAs)? IRS Publication 590 covers it all.
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Video: How We Make It Easy to Transfer Last Year's Info
With TurboTax, transferring information from one year to the next is easy, fast and accurate.
Video: The New 2009 Tax Deduction for Car Buyers
If you bought a new car, motorcycle, RV or SUV this year, a new tax break could help you pay for your next tune-up.
Video: Tax Deductions for Employment Related Expenses
One of the nice things about being an employee is that employers often provide you with everything you need to do your job. But sometimes?you just can't avoid having to pay for some work-related ...
Video: Tax Credits for Disabled Dependents
Taking care of a disabled dependent can qualify you for several tax benefits and deductions. Watch this video and find out what they are.
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Video: What Are Tax Deductions?
Tax deductions reduce the amount of tax you owe by allowing you to subtract certain expenses from your income.
Video: Claiming Dependents on Your 2010 Tax Return
Note: The content of this video applies only to taxes prepared for 2010. It is included here for reference only. Almost any relative can be claimed as a dependent for tax purposes. So can non-rel...
What is Form 4972: Tax on Lump-Sum Distributions
When you take all of your money out of a tax-advantaged retirement plan, you'll typically have to pay taxes on your withdrawal, just as if it was ordinary income. If you have a large retirement p...
Video: Making Work Pay Tax Credit 2009
Note: The content of this video applies only to taxes prepared for 2009 and 2010. It is included here for reference only. Most Americans enjoyed an instant tax break last year thanks to the Makin...
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Video: A Guide to Tax Extensions: Deadlines, Forms, and Who Qualifies
Tax extensions are there for a reason. Here's a list of everything tax filers need to know about requesting a tax extension when they need more time to file.
Video: How To Understand Your Taxes
Understand your taxes with help from TurboTax in this video on tax tips.
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12 Smart Things to Do with Your Tax Refund
Saving money is kind of like eating a healthy diet. You know you should do more of it, but it?s hard to resist making spur-of-the-moment choices that make you happier now but worse off later. A t...
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Video: Tax Filing Requirements for Children
Depending on how much money they made during the year, your children may very well have to file for taxes. Learn about tax filing requirements for children with help from TurboTax in this video o...
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Video: Save Taxes by Saving Energy
Note: The content of this video applies only to taxes prepared for 2010. It is included here for reference only. From basements to attics, the federal government wants homeowners to save energy y...
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Video: What Is a Flat Tax?
Note: The information in this video is applicable to taxes filed in 2010. It is here for reference only. A flat tax requires you to pay a fixed percentage of your income, no matter what that inco...
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Video: What Are Income Tax Rates?
Note: The content of this video applies only to taxes prepared for 2010. It is included here for reference only. Income tax rates change depending on both the amount of money you make and how you...
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Video: Who Needs to File an Income Tax Return?
Even if you earned income this year, you may not be obligated to file a tax return. Watch this video to help determine your filing status and learn about tax-exempt income.
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Video: How to Calculate My Federal Adjusted Gross Income
Many taxpayers earn income from several different sources. In this video, you'll learn how to calculate your adjusted gross income, which will help you deduce how much tax you owe.
Video: How to Figure Out Adjusted Gross Income
Do you know how to calculate your adjusted gross income, or AGI? Every tax return form has a line to report it. See this video for more information on AGI.
Video: What is a Schedule A: Itemized Tax Deductions?
Taxpayers are allowed by the IRS to either itemize deductions or take the standard deduction. Itemization takes place on Schedule A. Watch this video to find out more about itemizing deductions. ...
Video: Guide to Summer Jobs and Taxes
If you only work during the summer months, it may not be necessary to file a tax return. Watch this video to determine whether your summer earnings require that you file a return.
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Video: What Are IRS Forms?
IRS forms are filled out by taxpayers each year to indicate how much money that person owes to the government. Find out about these forms with help from TurboTax in this video on tax tips.
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Video: Tax Guidelines About Gifting
Note: Some of the content of this video applies only to taxes prepared prior to 2012. It is included here for reference only. Find out the tax guidelines about gifting with help from TurboTax in ...
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Video: Federal Tax Incentives: The Wind Power Tax Credit
The "Wind Power" tax credit is just one of the many federal tax incentives available to taxpayers in the United States. Learn about the "Wind Power" tax credit with help from TurboTax in this vid...
Video: How to File a 1040EZ IRS Form for Free
Most taxpayers prefer to file their tax return on the shortest and least time-consuming tax form possible. This is why the IRS allows some taxpayers to use the 1040EZ form instead of the longer 1...
Video: Guide to the W-4 Tax Form Employee's Withholding Allowance Certificate
When you started your last job, do you remember filling out a W-4 form? It may have been one of many documents you had to complete for your employer, but because you can update it at any time, yo...
Video: Can Disability Beneficiaries File for Taxes?
Wondering whether you can still file a tax return despite receiving some type of disability income? You may still have to file a return and pay taxes on this income. Watch this video to learn mor...
Video: Using the Web to File Taxes Online
Filling out your tax return by hand is rapidly becoming a thing of the past. These days, not only can you file your return with the Internal Revenue Service online, but you can pay your taxes ele...
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Video: Federal Tax Credit for Solar Energy
Note: Some of the content of this video applies only to taxes prepared for 2010. It is included here for reference only. If you have installed solar panels onto your primary residence, you could ...
Homebuyer Tax Credit: 7 Surprising Facts
Note: The content of this article applies to taxes prepared for 2010. It is included here for reference only. The Homebuyer Tax Credit was extended and expanded on November 6, 2009.
Video: The 2010 Energy Tax Credit
Note: The content of this video applies only to taxes prepared for 2010. It is included here for reference only. With the Nonbusiness Energy Property Credit you can take a credit for 30% of what ...
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Video: Learn about the First-Time Homebuyer's Credit
Note: The content of this video applies only to taxes prepared for 2009 and 2010. It is included here for reference only. In November 2009, the federal government extended and expanded the popula...
Video: How to File a Tax Return with Adult Dependents
Did you know that reporting an adult dependent on your return provides the same tax savings as reporting your children? When claiming an adult as your dependent there are four essential tests you...
Video: What Are Tax Tables?
The tables issued by the federal government and many state governments determine what amount of tax you owe based on your taxable income. See how your filing status affects your position on the t...
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Sales Tax 101 for Online Sellers
Most people are familiar with sales tax ? that extra percentage stores collect from customers in many states. If you own a store in a state that collects a sales tax, you are usually required to ...
What Is a Schedule B IRS Form?
If you received more than $1,500 in interest or dividend income, chances are you will need to file a Schedule B. Here are the details.
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What is a 1098-E: Student Loan Interest
If you're currently paying off a student loan, you may get Form 1098-E in the mail from each of your lenders. Your lenders have to report how much interest you pay annually. Student loan interest...
What Is a Personal Representative for Taxes?
In the language of taxes, a personal representative is an individual responsible for handling the estate of someone who has died. It's the personal representative's job to make sure that all the ...
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The Art of Keeping Receipts for Your Taxes
Keeping your receipts organized helps you to assess your annual spending accurately and makes filing your taxes easier.
7 Smart Ways to Invest Your Tax Refund
You can maximize your tax refund in several ways ? from paying off high-interest debt to investing in a business or saving for retirement. One or more of these options could be the perfect fit fo...
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Video: What Is a Federal Tax Lien?
A federal tax lien is a hold placed on personal property if a person fails to make a tax payment. Avoid a federal tax lien with help from TurboTax in this video clip.
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Video: How Judgments Can Impact Your Taxes
Falling behind on your loan or credit card payments is never a pleasant situation to be in. You're probably wondering how this may affect your tax refund. Watch this video to find out more about ...
Video: Guide to IRS Form W-2G Certain Gambling Winnings
Have you recently won big at the poker table? Before you go spending your winnings, you should watch this video and determine how much of that money is taxable.
Video: IRS Tax Return Retention Requirements
The IRS has some very specific requirements when it comes to tax return retention. Learn about IRS tax return retention requirements with help from TurboTax in this video on tax tips.
Video: Does the IRS Allow Deductions for Donated Work?
The IRS allows you to claim a tax deduction for some out-of-pocket expenses you accrue when volunteering your time. Find out if the IRS allows deductions for your donated work with help from Turb...
Video: Social Security Tax?Who Is Exempt?
You may be wondering if you qualify for an exemption from the Social Security tax. If you are eligible, you stand to save a good amount of money. But remember, if you are exempt, you may not be a...
Video: What to Do If Your Tax Return Is Rejected by the IRS
It's always disappointing when your tax return is rejected, but it doesn't have to be scary. This video address some of the common mistakes that cause rejections and what you can do about it.
Video: Does Owing the IRS Affect Your Credit Score?
When you still owe the IRS for past taxes, it?s likely that the agency will be more willing to work with you?such as allowing you to pay your tax in monthly installments. To find out more about h...
Video: Can We File Two Primary Residences if Filing a Joint Tax Return?
There are many tax incentives for owning a home. But how do you designate a primary residence when you own more than one home? Watch this video to find out.
Video: Does Amending Your Filing Status Trigger a Tax Audit?
Do you need to correct the filing status on a past return? Are you concerned that if you file an amended return that it will trigger an IRS audit? Watch this video to find out if amending your fi...
Video: When to Use Tax Form 1040-X
Unless you've amended a tax return before, you may not know why taxpayers file a 1040-X or when you should use it yourself. This is because filing a 1040-X form is only necessary to correct certa...
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Video: What is IRS Form 2441? Child and Dependent Care Expenses
Do you hire a professional to care for your children? Or maybe to take care of your spouse or other family member who can't be left without supervision? Watch this video to learn more about how s...
Video: What Days of the Week Does the IRS Deposit Tax Refunds?
There is no doubt that many taxpayers file their returns before the filing deadline so they can get their tax refunds quickly. But remember, the IRS does need some time to process your tax return...
Video: What Is a Fiduciary Income Tax Return?
Have you been appointed as trustee of a trust or the administrator of an estate? If so, you may be interested to hear about the tax returns you are responsible for filing. Watch this video to fin...
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Video: Documents Needed to File Income Taxes
Wondering which documents are needed to file your taxes? This video will carefully outline the different forms that will help you complete your taxes.
Video: How to Use IRS Form 5498 on a Tax Return
Did you put money into an IRA this year? What about a Roth IRA? Watch this video to answer your questions about retirement savings and how they affect your taxes.
Video: How to Find Tax Laws
Though it can be difficult, you can find tax law information in a few different places.
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Video: Guide to Schedule B: Interest and Dividend Income
Did you earn more than $1,500 in interest or dividend income? Or cash in a U.S. savings bond? You may be able to exclude some of this interest from your 1099-INT form. Watch this video to find ou...
Video: Filing Schedule E Supplemental Income and Loss
Do you rent out your home or other real estate to earn some extra money? Or, are you a partner in a partnership? If so, you may have an obligation to report some of your earnings on a Schedule E ...
Video: Tax Tips for Paying Property Taxes Online
If you own a home, it's likely that you pay property taxes to your local government. But if you are used to writing checks, you may be interested to know that many agencies allow you to pay your ...
Video: What Are Tax Appeals?
Tax appeals are often necessary in the unlikely case you are audited, and it's a surprisingly informal and quick process. Understand how to appeal a tax audit with information from TurboTax in th...
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Video: Guide to Income Tax Refund Garnishment
Do you have some concern that your tax refund will be garnished by some of the creditors you owe money to? If so, you should know that their ability to garnish your tax refund depends on what the...
Video: When to Use IRS Form 8949 for Stock Sales
If you sold some stocks this year, you're probably aware that you will need to include some information on your tax return. What you may not realize, is that you'll need to report every transacti...
Video: Guide to a Fiduciary Income Tax Return
Just like your obligation to pay income taxes and file a return, trusts and estates must do so as well. Watch this video to find out more about fiduciary income tax returns.
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Video: What is the Affordable Care Act Cost-Sharing Subsidy (Obamacare)?
The Affordable Care Act cost-sharing subsidy is designed to lower you out-of-pocket health care costs when you purchase health insurance from the Marketplace. Learn who qualifies for the Affordab...
Video: Just for Fun: KIM TurboTax Contest Submission
TurboTax "Just for Fun" video.
Video: Are Cash Back Rewards Taxable Income?
Many companies offer cash back rewards for purchasing their product, but is this reward considered taxable income? Watch this video to learn more about cash back rewards and taxable income.
Video: How To Reduce Errors on Your Tax Return
Did you know that errors on your tax return can affect the amount of your tax bill and the amount of time it takes to get a refund? Fortunately, TurboTax helps you avoid errors AND be sure you're...
Video: What You Should Know About Shopping in Tax-Free States
If you live in a state that doesn't charge a sales tax, consider yourself lucky, since 45 of the 50 states do charge the tax on goods you purchase there. Watch this video to find out more about s...
Video: What Is the Capital Gains Tax?
The capital gains tax applies when a person sells a capital asset. Find out about the capital gains tax with help from TurboTax in this video clip.
Video: When to Use Tax Form 1040EZ
Wanting to file your return quickly and easily? The 1040EZ is one of three standard forms that can allow you to file your taxes quickly. Watch this video to find out more about filing your 1040EZ...
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Video: When to Use Tax Form 1040A
Not sure which tax credits or deductions you can claim on your tax return? Watch this video and find out if Form 1040A is right for you.
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Video: Tax Tips for the 1040EZ IRS Form
Nothing to deduct? The IRS has just the form for you. In this video you will learn if you qualify to file your taxes with form 1040EZ and tips for filing.
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Video: How to Get IRS Tax Relief for the Disabled
The IRS offers certain kinds of tax relief aimed at people who are or have become disabled. Get IRS tax relief for the disabled with help from TurboTax in this video on tax tips.
Video: Why Do I Owe on My Tax Return?
If you finish your tax return and are confused as to why you need to send the IRS a check, there is only one possible explanation for this: you paid less tax during the year than you owed for you...
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Video: The Affordable Care Act Tax Penalty Explained (Obamacare)
What is the Affordable Care Act tax penalty? Under the Affordable Care Act (Obamacare), if you can get health insurance and choose not to, and you aren't exempt for other reasons, you may have to...
Video: Who Qualifies for an Affordable Care Act Exemption (Obamacare)?
The Affordable Care Act requires all Americans to have health insurance or pay a tax penalty. But, who qualifies for an Affordable Care Act exemption? Find out more about who qualifies for an exe...
Video: What is the Affordable Care Act Individual Mandate?
The Affordable Care Act individual mandate (Obamacare) requires most Americans to have health insurance or pay a tax penalty, unless you qualify for an exemption. Learn more about the ACA individ...
Video: Why Would I Owe Federal Taxes?
Why would you owe federal taxes even though your employer withholds taxes from your paycheck throughout the year? Learn how the number of allowances you claim can affect your balance with the IRS...
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Video: How Far Back Can I Re-file a 1040-X Amended Tax Return?
Was there a mistake made on your taxes that was discovered after filing? You may be able to amend these mistakes using a 1040-X form. Watch this video to find out more about the 1040-X form.
Video: Taxes 101 for Your Income Tax Return
Income taxes fund government services. Your employer withholds taxes from your wages and pays the government on your behalf.
Video: How to Read a 1099-MISC IRS Form
The 1099-MISC form is used to report different types of payments. This video will help you more accurately report these payments on your tax return.
Video: What is Schedule C-EZ: Profit or Loss from a Business?
When you earn income from self-employment, preparing your tax return can be more complicated than when you only earn income from an employer. Schedule C-EZ can make the filing process much simple...
Video: Debt Cancellation and Your Taxes Explained
Having your debt cancelled may square you with your creditor, but that debt may still be taxable. This video will help you determine whether you need to report your cancelled debt to the IRS.
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Video: How Your Tax Dollars Are Spent
You know you have to pay your taxes, but do you know exactly what the federal government spends your hard earned money on? If not, you may be surprised to learn how the government spends the taxe...
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Video: How to Claim the Affordable Care Act Premium Tax Credit (Obamacare)
The Affordable Care Act Premium Tax Credit is a new refundable tax credit that can lower your monthly health insurance premiums. If you qualify for the tax credit, you can claim the Premium Tax C...
Video: What Is a Tax Refund?
A tax refund is the amount of money you over-pay in taxes throughout the year. Get a tax refund with help from TurboTax in this video clip.
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Video: IRS Penalties for Abatement
When the IRS waives a penalty it is called abatement. Learn about IRS penalties for abatement with help from TurboTax in this tax tip video.
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Video: IRS Payment Plan for Taxes
If you owe more than you can afford on your taxes at the end of the year, you can set up a payment plan.
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Video: What Is IRS Form 9465 Installment Agreement Request?
Is your tax bill too much for you to handle? You may qualify to pay the IRS in installments. Watch this video to learn about the Form 9465 Installment Agreement.
Video: Single Tax Withholding vs. Married Filing Jointly
Are you recently married? There are some important things you should know about filing jointly. Watch this video to learn more.
Video: How to Claim State Taxes on a Federal Tax Return
Do you live in a state that imposes an income, sales, real estate or personal property tax? If you make payments for any of these taxes, you should know that the IRS may let you deduct them on yo...
Video: Self-Employment Tax Deductions on Cell Phones
Self-employed taxpayers have many opportunities to deduct business expenses from their tax returns. This video will help you to understand how you can deduct the expenses involving your mobile ph...
Video: Changes in the Standard Deduction for Certain Tax Filers
There are other factors that affect your standard tax deduction besides your filing status. Watch this video to find out what they are.
Video: What Are Tax Breaks?
Tax breaks refer to any applicable tax laws that reduce the amount of taxes you owe at the end of the year. Find out which tax breaks apply to you with information from TurboTax in this video on ...
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Video: How TurboTax Helps with Complex Taxes
Think TurboTax is just for simple tax returns? Think again. With our straightforward, step-by-step guidance and time-saving import features, we can help you handle everything from a new home to a...
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Video: How to Amend Taxes that Are Already Filed
Many people make mistakes when filling out their tax returns, but it's not the end of the world. Watch this video to learn more about amending past tax returns.
Video: Is Inheritance Money Counted as Income by the IRS?
Have you inherited a large sum of money from a deceased loved one? That inheritance may be taxable. Watch this video to learn more.
Video: Guide to the W-2 Tax Form - Wages and Tax Statement
The W-2 form you receive from your employer each year is fairly straightforward but there are some things about the form you may be interested to know. Watch this video to learn more about the ke...
What is a W-2 Form?
A W-2 tax form shows important information about the income you?ve earned from your employer, amount of taxes withheld from your paycheck, benefits provided and other information for the year. Yo...
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Video: What Are Estate Taxes?
Note: The content of this video applies only to the years 2010 and earlier. It is included here for reference only. The estate tax generally affects only the top two percent of the wealthiest ind...
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Video: Benefits of Filing Taxes Early
Filing your taxes long before the tax deadline may not be your top priority, but if you're self-employed or anticipating a refund, there are some benefits you may want to know about. Watch this v...
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Video: Can an Unmarried Couple File Jointly?
If you are recently divorced or plan to be married soon, you should watch this video to find out what filing status you are eligible for.
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Video: Who is the IRS?
The Internal Revenue Service (IRS) is a government organization responsible for collecting taxes from the American public. Learn about the IRS with help from TurboTax in this video on tax tips.
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Video: What Are Tax Credits?
Tax credits are one of the most valuable tax-saving tools you can use.
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Video: E-filing for a Faster Refund
TurboTax makes it easy to e-file your tax returns, so you can have your tax refund in your bank (or your pocket) as quickly as possible.
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Video: What Is a Federal Tax Lien on a Home?
The IRS can respond to delinquent taxes by putting a federal tax lien on your home, but you can avoid this extreme measure through proper communication and cooperation with the authorities. Learn...
Video: IRS Definition of Wage Earner Offer in Compromise
"Wage Earner Offer in Compromise" is a specific situation that allows you to ask the IRS to lower the amount of tax you owe. Learn about the IRS definition of "Wage Earner Offer in Compromise" wi...
Video: How TurboTax Protects You from an IRS Audit
At TurboTax we help you avoid the hassle of an audit.
Video: What Are Tax Schedules?
Tax schedules are sometimes required as attachments to your basic tax filing, the most common being a Schedule A for itemized tax deductions. Learn about tax schedules with information from Turbo...
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Video: What Are Inheritance Taxes?
Note: The information in this video is applicable to 2011. However, the text on the page has been updated to reflect the current year information. Inheritance taxes are taxes that a person needs ...
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Video: How to Track Tax Deductions
Tax deductions allow you to decrease your taxable income which can save you money come tax season. Track tax deductions with help from TurboTax in this video on tax tips.
Video: TurboTax Is Easy and Accurate Tax Software
When it comes to taxes, TurboTax knows there's nothing more important than getting it right the first time.
Video: What Are IRS Publications?
IRS publications can help fill in the gaps and ease your frustrations when preparing your tax return. Learn about IRS publications with help from TurboTax in this video clip.
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Video: What Are Tax Benefits?
Tax benefits are things that save you money on taxes, like deductions or credits. Educate yourself about tax benefits with help from TurboTax in this video clip.
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Video: How to Get Rid of an IRS Tax Lien
An IRS tax lien is an attempt by the Internal Revenue Service to collect on back taxes. Get rid of an IRS tax lien with help from TurboTax in this video on tax tips.
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Video: How TurboTax Guides You Step by Step Like a GPS
TurboTax helps by guiding you step-by-step through your taxes to get your maximum refund.
Video: What Are Tax Audits?
Important information on what you can expect during a tax audit.
https://turbotax.intuit.com/tax-tips/irs-letters-and-notices/video-what-are-tax-audits/L29ap5Rws
Video: What Are Tax Amendments?
If you want to make changes to a tax return, you must file an amended return.
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Video: What Are Income Tax Forms?
A number of tax forms exist to cover federal, state and city tax filing situations, but online filing can help you file your taxes accurately even if you can't tell one form from another. Discove...
https://turbotax.intuit.com/tax-tips/irs-tax-forms/video-what-are-income-tax-forms/L0IH79XoA
Video: What Is the Fair Tax?
What do people mean when they mention the Fair Tax Movement, and why does this movement not affect you when you prepare your tax returns? Learn about the history and purpose of the Fair Tax movem...
https://turbotax.intuit.com/tax-tips/general/video-what-is-the-fair-tax/L58TwZTzQ
Video: What Is Social Security Tax?
Note: The content of this video applies only to taxes prepared for 2010. It is included here for reference only. Social security tax is collected by the government to fund the benefits of retiree...
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Video: What Are State Tax Forms?
State tax forms are information forms that you fill out when filing your state income tax return.
https://turbotax.intuit.com/tax-tips/state-taxes/video-what-are-state-tax-forms/L7ZFPNz6C
Video: Just for Fun: ROBERT FATA TurboTax Contest Submission
TurboTax "Just for Fun" video.
Video: Why Does the IRS Audit People?
The IRS performs an audit on an individual for a wide variety of different reasons. Find out why the IRS audits people with help from TurboTax in this video on tax tips.
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Video: IRS 1099 Levy Contractor Options
The IRS may perform a levy on a 1099 contractor to collect back taxes owed from the previous year. Find out about IRS 1099 levy contractor options with help from TurboTax in this video.
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Video: How a Tax Lien Can Affect Your Credit Score
You are probably aware that if you fail to pay your credit card bills or other loans on time, your credit rating can suffer as a result. Not paying your income taxes on time could potentially hav...
Video: Do Social Security Income Recipients Pay Income Taxes?
You would think that when you finally retire and start collecting Social Security that you no longer have to pay income tax. But this isn't always true. Watch this video to find out more about in...
Video: Can a Collection Agency Claim My Tax Refund from the IRS?
Do you have an outstanding debt that's past due, and you're concerned that a collection agency will take your federal tax refund because of it? Watch this video to find out what agencies can take...
Video: Tax Guide for Resident and Non-Resident Aliens
Have you recently moved to the United States from a foreign country or just spend a lot of time there? If so, you may want to know about some of the federal income tax rules that you might be sub...
Video: How TurboTax Is Customized to Fit Your Own Situation
With TurboTax, you can rest easy knowing we've got your unique tax situation covered.
Video: What Are Tax Laws?
Tax laws are specific laws relating to the tax system in the United States. Learn about these laws with help from TurboTax in this video.
https://turbotax.intuit.com/tax-tips/general/video-what-are-tax-laws/L39yjncWx
Summary of Federal Tax Law Changes for 2010-2017
Learn how federal tax law changes could impact your tax return in 2010 and beyond. Here is a summary of all federal tax law changes between 2010 - 2017.
https://turbotax.intuit.com/tax-tips/irs-tax-return/summary-of-federal-tax-law-changes/L3l4j6t9p
Rental Real Estate and Taxes
If you own investment or rental property, TurboTax will help you with deductions, depreciation, and getting your biggest possible refund.
https://turbotax.intuit.com/tax-tips/rental-property/real-estate-tax-and-rental-property/L3e09vT71
Video: What Are Income Taxes?
Income taxes are a percentage of money that you pay to the government based on every dollar of taxable income. Learn about income taxes with help from TurboTax in this video on tax tips.
https://turbotax.intuit.com/tax-tips/general/video-what-are-income-taxes/L1gHdept0
What Is IRS Form 5498?
If you made contributions to an IRA in the preceding tax year, you can expect to receive IRS Form 5498.
https://turbotax.intuit.com/tax-tips/investments-and-taxes/what-is-irs-form-5498/L2P16IOdN
Video: Tax Planning for College Students
There?s a few key things to know about how the ending of the student loan payment freeze can affect your taxes; plus, learn about some education tax credits many people aren?t aware of.
https://turbotax.intuit.com/tax-tips/videos/video-tax-planning-for-college-students/c0mfeIcK5
IRS Publications
The IRS wants you to file your tax return. That's why it has guides to help you with nearly every tax situation. Find the IRS publication that covers your particular situation.
https://turbotax.intuit.com/tax-tips/irs-tax-forms/irs-publications/L333tQw7o
Tax Tips for Real Estate Agents and Brokers
Most real estate agents and brokers receive income in the form of commissions from sales transactions. You're generally not considered an employee under federal tax guidelines, but rather a self-...
11 Fun Ways to Spend Your Tax Refund
There are plenty of practical ways to spend your tax refund?such as saving for major expenses, banking it as the start of an emergency fund or paying down debt. But it?s hard to resist the allure...
https://turbotax.intuit.com/tax-tips/tax-refund/11-fun-ways-to-spend-your-tax-refund/L9TkzxP6G
Top 10 Tax Scams
Being aware of common tax scams and how to address them can help you keep yourself and your information secure at tax time. Here's a guide to the top 10 tax scams.
https://turbotax.intuit.com/tax-tips/security/top-10-tax-scams/L3olN2VsH
Tax Deductions for Jury Duty Pay and Expenses
If you served jury duty, you may have received pay from the court for your time. If so, that income is taxable and you must report it at tax time. You may also have incurred expenses to perform y...
How to Pay Taxes on Gambling Winnings and Losses
For many of us, gambling means buying the occasional lottery ticket on the way home from work, but the Internal Revenue Service says that casual gambling also includes raffles, casino games, poke...
Video: Last Minute Tax Tips for Extension Filers
CPA and TurboTax expert Lisa Greene-Lewis offers some valuable advice for filing extensions, including for taxpayers who live in federally-declared disaster areas and those who claim the Child Ta...
What is a Tax Home?
If you travel for work, you may be able to claim tax deductions for some of the expenses you incur while you're away from home on business. But your "home," in this sense, isn't necessarily where...
https://turbotax.intuit.com/tax-tips/general/what-is-a-tax-home/L27AVL2QM
Furlough vs. Layoff: What's the Difference for Your Taxes?
When a company chooses to reduce its workforce, it may approach that reduction in a few different ways. How a company makes these staffing changes could result in different implications for you a...
Video: Crypto Tax Guide to Capital Gains and Losses
Crypto is a new and exciting form of digital currency that is drawing in lots of first time investors. CPA and TurboTax tax expert Lisa Greene-Lewis joins TheStreet to give an overview of how cap...
What is an ALE (Applicable Large Employer) for Health Care Reform?
The Affordable Care Act makes it a shared responsibility of individuals, employers and government to ensure that as many people as possible have health insurance. The law does not require all U.S...
The Ultimate Medical Expense Deductions Checklist
Claiming medical expense deductions on your tax return is one way to lower your tax bill. To accomplish this, your deductions must be from a list approved by the Internal Revenue Service, and you...
https://turbotax.intuit.com/tax-tips/health-care/medical-expenses-checklist/L6MkxxlyW
What You Need to Know About Truck Driver Tax Deductions
Truck drivers can benefit from a number of tax deductions specific to their profession.
Tips for Handling Identity Verification Requests From the IRS
In response to the increasing tax-related identity theft problem, the Internal Revenue Service (IRS) is monitoring tax returns for signs of fraudulent activity. The most frequent scam is when thi...
Video: IRS Payment Plans Explained
Do you still owe the IRS money from last year? Don't panic. Watch this video to learn about IRS payment plans in monthly installments.
https://turbotax.intuit.com/tax-tips/tax-payments/video-irs-payment-plans-explained/L1kuX5RIx
Real Estate Tax Tips for the Owner of Record
Owning real estate comes with many benefits, but also a fair amount of costs. The tax code includes several breaks designed to offset some of those costs, but generally, the only person who can c...
What Is an IRS 1040 Form?
The IRS Form 1040 is one of the official documents that U.S. taxpayers can use to file their annual income tax return. IRS Form 1040 comes in a few variations. There have been a few recent change...
https://turbotax.intuit.com/tax-tips/irs-tax-return/what-is-an-irs-1040-form/L4aOys6cI
What, Me Worry? Last-Minute Taxes
According to the Internal Revenue Service, 20-25% of all Americans wait until the last two weeks before the deadline to prepare their tax returns. At that late date, there are only two things you...
https://turbotax.intuit.com/tax-tips/tax-extensions/what-me-worry-last-minute-taxes/L6g58eRCf
2023 Tax Forms for Federal and State Taxes
TurboTax software programs include the tax forms you're likely to need to file your federal and state taxes. And the great thing is they guide you through your tax return so you don't need to kno...
What Are IRS Forms?
IRS forms are documents that individuals and businesses use to report all financial activities to the federal government for purposes of calculating their tax liability.
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-are-irs-forms/L4PxkccXV
What Are Tax Calculators?
A tax calculator is a tool to help you estimate your income tax during the year.
https://turbotax.intuit.com/tax-tips/general/what-are-tax-calculators/L341OVraw
Reality Star Tax Blunders
The lessons to be learned from the following reality star tax blunders can apply to many taxpayers.
https://turbotax.intuit.com/tax-tips/fun-facts/reality-star-tax-blunders/L3ap31Bkq
Tax Tips for Short Sales
Understanding how a short sale or restructure will be viewed by the Internal Revenue Service can help you plan your tax situation ahead of time.
https://turbotax.intuit.com/tax-tips/home-ownership/tax-tips-for-short-sales/L8RRI5gIZ
Employee Stock Purchase Plans
Get information about how your employee stock purchase plan can impact your taxes.
https://turbotax.intuit.com/tax-tips/investments-and-taxes/employee-stock-purchase-plans/L8NgMFpFX
The 5 Biggest Tax Credits You Might Qualify For
Federal tax credits can be a big help to low-to-moderate-income taxpayers looking to reduce their taxes or maximize their tax refund. Here are the 5 biggest tax credits you might qualify for.
How TurboTax Safeguards Our Customers' Data
TurboTax follows the highest industry standards to ensure the safety of our customers' information.
https://turbotax.intuit.com/tax-tips/brand/how-turbotax-safeguards-our-customers-data/L6bWs76qF
How to Report a Foreclosed Rental House on Your Taxes
The IRS requires you to report the gain or loss on a foreclosure on your tax return.
Using an ITIN? How the PATH Act May Affect Its Expiration Date
The Protecting Americans from Tax Hikes (PATH) Act affects taxpayers who use an Individual Taxpayer Identification Number (ITIN), rather than a Social Security number, to file their tax returns. ...
What are the Tax Implications of Involuntary Conversions?
The federal tax code uses the term "involuntary conversion" to refer to cases in which you receive compensation for the destruction, theft or confiscation of property. If you end up with a new pr...
What is Form 1098-E: Student Loan Interest Statement?
If you paid interest on a qualified student loan, you may be able to deduct some or even all of that interest on your federal income tax return. Student loan companies use IRS Form 1098-E to repo...
What is Form 1094-B: Transmittal of Health Coverage Information Returns?
Form 1094-B is essentially a cover sheet used by insurance providers when they send the Internal Revenue Service (IRS) information about who has health coverage that meets the standards of the Af...
A Salute to Savings: Tax Benefits for the Armed Forces
If you're serving in the armed forces, it's important to understand your military tax advantages so you can make the most of them when filing your tax return.
Video: Tax Tips When Renting Out Your Home on Airbnb, FlipKey & Others
5 tax tips anyone can use when renting out a home through Airbnb, Flipkey, and other vacation rental services. You won't want to miss tip number four!
What Are State Tax Forms?
State tax forms are the information forms that you fill out when filing your state income tax return. Here are some details.
https://turbotax.intuit.com/tax-tips/state-taxes/what-are-state-tax-forms/L3D06z6uT
How to Report Vested Benefits on Your Income Taxes
In the language of employee benefits, vesting refers to a milestone in which a promised benefit becomes "yours." Vesting helps a business hold onto valuable employees by requiring them to stay wi...
Tax Tips for the Deaf
One in five Americans has a severe hearing loss, yet may not be aware of the special tax deductions and credits allowed by the Internal Revenue Service.
https://turbotax.intuit.com/tax-tips/disability/tax-tips-for-the-deaf/L54j3hZqT
Guide to IRS Form 14039: Identity Theft Affidavit
If you find yourself a victim of identity theft or find yourself at risk of having your identity stolen, you can alert the IRS about your situation with Form 14039 Identity Theft Affidavit.
Military Personnel Tax Tips
Those who serve in the U.S. armed forces are honored with a number of benefits, ranging from education assistance to retirement. Among the perks are a number of steps to make filing federal incom...
https://turbotax.intuit.com/tax-tips/military/military-personnel-tax-tips/L9BapGyzS
How to Report Non-Business Bad Debt on a Tax Return
Someone wise once said that you should never lend money to anyone if you expect to be paid back. The Internal Revenue Service (IRS) is sympathetic toward those who lend money?expecting repayment?...
Are Contributions to Nonprofit Schools Tax Deductible?
Taxpayers are allowed to claim a deduction for donations they make to qualified organizations.
Tax Deductions for Employer Owned Stocks (RSUs/Stock Options/ESPPs)
Holding stock or stock options in an employer's business can be a lucrative fringe benefit, one that encourages employee participation in the company's success. Employee stock ownership plans als...
Great Ways to Get Charitable Tax Deductions
Generally, when you give money to a charity, you can use the amount of that donation as an itemized deduction on your tax return. However, not all charities qualify as tax-deductible organization...
Tax Tips for the Blind
Anyone whose field of vision falls at or below 20 degrees, who wears corrective glasses but whose vision is 20/200 or less in his best eye, or who has no eyesight at all, meets the legal definiti...
https://turbotax.intuit.com/tax-tips/disability/tax-tips-for-the-blind/L80haiutG
What Are Tax Amendments?
The IRS allows you to correct mistakes on a tax return you've already filed by filing an amended tax return.
https://turbotax.intuit.com/tax-tips/amend-return/what-are-tax-amendments/L0bvaRd6J
8 Reasons to Love Tax Season
From getting a tax refund to discovering new tax credits that can put more money in your pocket, here are eight reasons to love tax season!
https://turbotax.intuit.com/tax-tips/fun-facts/8-reasons-to-love-tax-season/L27MUaQWm
5 IRS Penalties You Want to Avoid
Careless mistakes at tax time can leave people paying more money to the IRS. Those mistakes are avoidable through awareness of and adherence to the tax rules, including deadlines. Learn the five ...
https://turbotax.intuit.com/tax-tips/tax-payments/5-irs-penalties-you-want-to-avoid/L9m4AIREO
Claiming the Foreign Tax Credit with Form 1116
Learn what foreign tax credit you should be aware of if you're a U.S. citizen living abroad and how to report foreign income with Form 1116.
Eight Things to Do Now to Cash In at Tax Time
Now is a good time to review your financial situation and do a rough estimate of your income tax bill for the year. This will give you an incentive to consider these short and long-term strategie...
What Are Tax Cuts?
Tax cuts are changes to tax law that effectively reduce the amount of tax you pay.
https://turbotax.intuit.com/tax-tips/general/what-are-tax-cuts/L1wXFN8CF
What is IRS Form 1099-Q?
If you're paying for school expenses from a 529 plan or a Coverdell ESA, you will likely receive an IRS Form 1099-Q, which reports the total withdrawals you made during the year.
https://turbotax.intuit.com/tax-tips/college-and-education/what-is-irs-form-1099-q/L7MAdcKz5
Tax Time Gains and Losses: Calculating Your Investment Portfolio Results
Every investor's goal is the same, to make money. But a dollar earned in one investor's portfolio is not necessarily the same as a dollar earned in another's. That's because each portfolio might ...
Tax Tips for Foreclosures
Understanding the tax ramifications of the foreclosure process can help minimize the financial consequences. There are several possible outcomes of a bank foreclosure, and each will affect your t...
https://turbotax.intuit.com/tax-tips/home-ownership/tax-tips-for-foreclosures/L0Uxq56j6
Tax Tips for Real Estate Investment Trusts
A real estate investment trust, or REIT, is essentially a mutual fund for real estate. As the name suggests, the trust invests in real estate related investments. Investors buy shares in the trus...
Tax Tips When Sending Kids to Private or Public Schools
Where you send your child to school is often a personal choice. If you choose private K-12 schooling, some federal tax benefits can help to reduce your cost.
What the Affordable Care Act Means for Vets
The Affordable Care Act is designed to provide all Americans with access to health insurance at reasonable rates, while working to lower costs, improving the quality of health care and improving ...
Who Needs an ITIN or Individual Tax Identification Number?
The Individual Tax Identification Number, or ITIN, allows taxpayers who don't have a Social Security Number (SSN) to file income tax returns. Unlike other forms of ID, ITINs only have one purpose...
Forget Money: How the World Paid Taxes in the Past
These days most people write a check or transfer bank funds to cover their tax bill, but cash is far from the only thing that taxing authorities have accepted over the years. In America of yester...
How to Figure Out Adjusted Gross Income (AGI)
The AGI calculation depends on the tax return form you use; some forms allow you to take more adjustments to income, than others.
Health Care and Your Taxes: What's the Connection?
Your cost for Marketplace health insurance is based on the income you file on your tax return. Your reported income also determines your eligibility for the tax credits associated with Marketplac...
7 Steps for Handling Unexpected Tax Bills
If you owe money at tax time, try to remember that rainy-day funds exist for just such unexpected expenses. Even if you don't have the resources to pay what you owe on time, don't panic. The foll...
How to Read Federal Tax Tables
Understanding how to use the federal tax tables will make it easier for you to calculate the tax you owe.
https://turbotax.intuit.com/tax-tips/irs-tax-return/how-to-read-federal-tax-tables/L2fji7Utl
Tax Tips for Teachers: Deducting Out-of-Pocket Classroom Expenses
When it comes to making sure students have the tools for successful learning, school teachers commonly dip into their own pockets to pay for classroom materials. Fortunately, the Educator Expense...
At Ease Soldier: Extensions for Military Personnel
Military personnel, especially those in active combat zones, have several tax benefits available to them. One of the most important is the filing extension available for those on active duty over...
7 Feel-Good Tax Breaks: Ways to Get Back When You Give
Some tax deductions offered by the IRS encourage taxpayers to help society. Whether it?s encouraging donations to charity or caring for elderly relatives, there are several ways to reduce your ow...
What is Form 8853: Archer MSAs and Long-Term Care Insurance Contracts
An Archer medical savings account allows tax-sheltered investment growth within a savings account as long as funds are used to cover medical expenses. Form 8853 reports contributions and payments...
How Does IRS Form 1095-B Affect Small Businesses?
IRS Form 1095-B provides information about health insurance coverage. The Affordable Care Act (ACA), also known as Obamacare, requires that insurance providers send this form to those whose cover...
What Are Income Tax Rates?
Confused by what percentage of your income goes to taxes and why it does not match the rate in the tax table? Here are the basics on how income tax rates work.
https://turbotax.intuit.com/tax-tips/irs-tax-return/what-are-income-tax-rates/L6Prxd0wb
Filing Tax Form 2441: Child and Dependent Care Expenses
There are a number of eligibility requirements to satisfy before potentially receiving a child or dependent care credit, so it's a good idea to familiarize yourself with the rules before preparin...
What Is the Lifetime Learning Tax Credit?
With the rising cost of higher education, many taxpayers wonder how they can offset some of their school expenses. One option is to claim the Lifetime Learning credit on your federal income tax r...
What is the Difference Between Forms 1094-C and 1095-C?
IRS Forms 1094-C and 1095-C are filed by employers that are required to offer health insurance coverage to their employees under the Affordable Care Act, also known as Obamacare. The main differe...
Video: Tax Deductions When Buying or Selling a Home
Learn seven great tax deductions you may be able to use if you?ve bought or sold a home this year. Owning a home means you may be eligible for deductions and credits for origination fees, mortgag...
Filing Taxes After Filing for Bankruptcy
Filing an income tax return after filing for bankruptcy does not have to be a problem, as long as you know what to watch out for, including when and how to file.
https://turbotax.intuit.com/tax-tips/debt/filing-taxes-after-filing-for-bankruptcy/L4PpcTaiW
What Is Stolen Identity Refund Fraud?
A tax refund is as much an asset as a diamond ring, and just as some thieves target jewelry stores, others specialize in stealing taxpayers' identities in order to create fake tax returns that pr...
https://turbotax.intuit.com/tax-tips/security/what-is-stolen-identity-refund-fraud/L3fFN1Gyk
What Is Form 8959: Additional Medicare Tax
Starting with the 2013 tax year, you may be subject to an additional 0.9 percent Medicare tax on wages that exceed a certain threshold. The Additional Medicare Tax is charged separately from, and...
https://turbotax.intuit.com/tax-tips/health-care/what-is-form-8959-additional-medicare-tax/L62vNXoy5
Cost of Taking the Wrong Tax Deductions
Taking the wrong tax deductions can cost you time and money. If you're depending on a tax refund, a tax return that is improperly filed can keep you waiting for a long time. You may also get back...
Bigger, Better College Tax Credit
The American Opportunity tax credit, which replaced the Hope Scholarship credit in 2009, covers more years of college and offers bigger, better benefits to more taxpaying students or their famili...
What Is Form 8586: Low-Income Housing Credit
General business tax credits provide incentives for business activities beneficial to the American public or the economy in general. Owners of rental buildings in low-income housing projects may ...
How to Calculate Your Lifetime Learning Credit on IRS Form 8863
Tax credits like the Lifetime Learning Credit (LLT) provide a dollar-for-dollar reduction of your taxes owed, rather than the reduction in your taxable income that is offered by a tax deduction. ...
IRS Form 3903: Are Moving Expenses Tax Deductible?
Tax reform changed rules related to moving expenses. Are moving expenses tax deductible? For most people, the answer is no. Military personnel can still claim the deduction but must meet certain ...
What Is a Schedule A IRS form?
The Internal Revenue Service offers every taxpayer the option to itemize their deductions or to claim the standard deduction. The standard deduction amount varies depending on your filing status....
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-a-schedule-a-irs-form/L0Koz7eGI
What Are Tax Benefits?
They are called by many names?deductions, credits, exclusions, but they can be a big benefit by helping you reduce your tax bill. Here are the details.
https://turbotax.intuit.com/tax-tips/general/what-are-tax-benefits/L39rp7Pva
Deductions for Sales Tax
Most states charge a sales tax on the purchase of goods sold within their jurisdictions. However, there are several tax-free states in which you can shop that do not impose a sales tax on retail ...
https://turbotax.intuit.com/tax-tips/tax-deductions-and-credits/deductions-for-sales-tax/L2WX6nkZm
What is Form 4952: Investment Interest Expense Deduction
If you borrow money to purchase an investment, you may qualify for a tax break. The IRS allows certain taxpayers to take a tax deduction for the interest expense on some loans using Form 4952. Ho...
Tax Tips for Investors
Taxpayers trying to build wealth can weather the ups and downs of the tax side of investing by following a few historically helpful steps.
https://turbotax.intuit.com/tax-tips/investments-and-taxes/tax-tips-for-investors/L5woKP9wl
Video: Taxes 101: Buying and Selling Stocks
Learn everything you need to know to report stock gains and losses on your tax return in 5 easy steps and simple tips to help you maximize your deductions this tax season.
Multiple States?Where To File
Learn where to file state income taxes, even if you're in the military, or earned money in multiple states. TurboTax will calculate how much you owe to the different states where you have earned ...
https://turbotax.intuit.com/tax-tips/state-taxes/multiple-states-where-to-file/L5NxnNH21
Year-Round Financial Tips to Make Taxes a Breeze
You might normally only think about tax preparation as the filing deadline approaches, but making it part of your year-round money management strategy has some major benefits. Not only does it pr...
A Tax Cheat Sheet for Kindle eBook Self-Publishing
You?ve done it. After months?maybe even years?of dedication and an encounter or two with writer?s block, you?ve finished your eBook. You've heard that self-publishing for Amazon?s Kindle is a bre...
Video: Renting vs Buying a Home: Tax Breaks You Should Know
Homeownership is touted as one of the greatest tax benefits for many Americans. Buying a home offers a variety of tax deductions that can mean big savings for you in the long term. Learn how rent...
What Is the IRS Form 8283?
If the combined value of all property you donate is more than $500, you must prepare IRS Form 8283.
https://turbotax.intuit.com/tax-tips/charitable-contributions/what-is-the-irs-form-8283/L4cLHP3s0
What is IRS Form 8606: Nondeductible IRAs
Taxpayers use Form 8606 to report a number of transactions relating to what the Internal Revenue Service (IRS) calls "Individual Retirement Arrangements" and what most people just call IRAs. Thes...
What Is the Individual Mandate for Health Care Reform?
The health care reform legislation that became law in 2010 - known officially as the Affordable Care Act and also as Obamacare - requires most Americans to have a basic level of health insurance ...
How to Use Your Tax Refund to Recover from Holiday Spending
From gift-buying to travel and entertainment, holiday spending can leave you feeling less than festive heading into the New Year. The good news is, your tax refund can be one way to pay down ling...
Gardeners and Landscapers Tax Tips
Part of your job as a gardener or landscaper is to prune plants back to reduce their size and you can also do this with your taxes. If you're self-employed, there are tax deductions that can trim...
Taxpayer Beware: Email Phishing Scams
The IRS reported a surge in phishing scams during the 2018 tax season. Phishing schemes are designed by cyber criminals who attempt to lure unsuspecting victims into revealing their personal and ...
https://turbotax.intuit.com/tax-tips/security/taxpayer-beware-email-phishing-scams/L6r4YHSuG
How to Deal with Penalties from Tax Non-Payment
If you don't pay your taxes when they're due, the debt doesn't go away. It may even grow as it accumulates interest and penalties each month it remains unpaid. The IRS will continue to attempt co...
What is a 1098-C: Contributions of Motor Vehicles, Boats and Airplanes
When you donate a vehicle to charity, you may be able to deduct it as a charitable contribution if you itemize your deductions. Soon after donating a vehicle, boat or airplane, the charitable org...
1099-MISC Instructions and How to Read the Tax Form
In tax year 2020, the IRS reintroduced Form 1099-NEC for reporting independent contractor income, otherwise known as nonemployee compensation. If you?re self-employed, income you receive during t...
Guide to Schedule R: Tax Credit for Elderly or Disabled
The Internal Revenue Service extends a special credit to older taxpayers called the Credit for the Elderly or the Disabled. This tax break allows individuals and couples to reduce the amount of t...
What is IRS Form 8859: Carryforward of D.C. First-Time Homebuyer Credit
Form 8859 is a tax form that will never be used by the majority of taxpayers. However, if you live in the District of Columbia (D.C.), it could be the key to saving thousands of dollars on your t...
Video: IRS Rules for Charitable Giving
Most donations to places of worship, international relief organizations and war veterans groups are tax-deductible. Learn the IRS rules for charitable contributions, what qualifies and what doesn...
Video: Tax Credits When Adopting a Child
If you are in the process of adopting a child or even considering it, you should know that there is a federal tax credit that can save you money on your taxes. Some of the adoption expenses that ...
https://turbotax.intuit.com/tax-tips/family/video-tax-credits-when-adopting-a-child/L74MpRNkm
What is Form 6781: Gains and Losses from Section 1256 Contracts and Straddles?
Section 1256 contracts and straddles are named for the section of the Internal Revenue Code that explains how investments like futures and options must be reported and taxed. Under the Code, Sect...
Identity Theft: 7 Steps to Reclaiming Your Identity and Keeping it Safe
As more personal information continues to be stored online, the risk of identity theft also increases. The Bureau of Justice reports that millions U.S. residents experience identity theft each ye...
Does Medicare Count as Minimum Essential Coverage (MEC)
If you have Medicare, you probably have minimum essential coverage (MEC) as defined by the Affordable Care Act (also known as Obamacare or ACA). Learn more about which Medicare coverage does and ...
How Can the Taxpayer Advocate Service Help Me?
The Taxpayer Advocate Service describes itself as "your voice" inside the IRS. The service isn't a complaint department or an all-purpose help desk. Rather, it's designed to be a "safety net"?a t...
https://turbotax.intuit.com/tax-tips/tax-pro/how-can-the-taxpayer-advocate-service-help-me/L49zEnBVx
Real Estate Tax Tips: Owning Property as a Tenancy in Common
"Tenancy in common" (or TIC) refers to a situation in which ownership of a piece of property is divided among multiple people. When the owners of a piece of real estate have a tenancy in common, ...
Renting Out a Room on Airbnb or FlipKey? How Much You Owe in Taxes
Who couldn't use a little extra income on the side? Short-term vacation rental companies like Airbnb and FlipKey help you find guests to rent that spare bedroom and earn some cash. But, as in any...
What is Form 4835: Farm Rental Income and Expenses
As with all businesses, the IRS requires you to report the income and expenses involved with running that business, including a farm rental. If you're the owner of a farm but not the one actively...
What Is Form 6198: At-Risk Limitations
Most investors go into business expecting to make a profit. But, when business expenses exceed profits and a loss occurs, a tax deduction may be the only silver lining. The Internal Revenue Servi...
Mortgage Refinance Tax Deductions
When refinancing a mortgage to get a lower interest rate or obtain more favorable loan terms, you're really just taking out a new loan and using the money to pay off your existing home loan. In g...
https://turbotax.intuit.com/tax-tips/home-ownership/mortgage-refinance-tax-deductions/L2fzA7hg5
Video: Tax Tips When Filing for Multiple Jobs
There are a few things to keep in mind when filing your personal taxes with multiple W-2 tax forms. Watch this video to learn what you need to do to file a tax return with multiple jobs.
Tax Tips for Avoiding E-file Rejections
The Internal Revenue Service can reject your e-filing for a wide range of reasons. However, if you implement some basic tips, you may be able to avoid unnecessary e-file rejections.
https://turbotax.intuit.com/tax-tips/e-file/tax-tips-for-avoiding-e-file-rejections/L6BX84RB8
Tax Tips for Separated Couples
Separated couples face choices that can have significant tax consequences. Some of these choices can be made independently; others require you to communicate with each other.
https://turbotax.intuit.com/tax-tips/marriage/tax-tips-for-separated-couples/L6H4vr1nd
How to Find Out How Much You Owe in IRS Back Taxes
You can calculate what you owe in back taxes fairly accurately without even contacting the IRS.
Video: Tax Tips for Car Sharing Drivers: Uber, Lyft & Others
With the rise of the new sharing economy, many drivers are participating in ride sharing services with companies like Uber and Lyft. Here's a short video you can watch to make sure you're getting...
Video: Tax Tips for Veterans
As a military veteran, you must also file taxes. But, you can take advantage of several tax benefits the government has made available. Watch this video to see what tax breaks you may be eligible...
https://turbotax.intuit.com/tax-tips/military/video-tax-tips-for-veterans/L9oVDUKFR
How to Report Stock Options on Your Tax Return
Stock options give you the right to buy shares of a particular stock at a specific price. The tricky part about reporting stock options on your taxes is that there are many different types of opt...
What Are Deductible Investment Interest Expenses?
In general, you can deduct interest paid on money you borrow to invest, although there are restrictions on how much you can deduct and which investments actually qualify you for the deduction.
The Tax Benefits of Your 401(k) Plan
Your contributions to a 401(k) may lower your tax bill and help you build financial security.
Is Your Car Registration Deductible?
Your car registration fees may be partially deductible on your federal income taxes, but only under certain circumstances.
4 Tax Tips for Money-Making Hobbies
Many people take up hobbies, like jewelry-making or photography, just for the love of it and don't expect to make money from their efforts. Most hobbies require some out-of-pocket costs. The good...
Tax Tips for Yoga Teachers and Instructors
There?s a pretty clear line between being an employee and being an independent contractor in most professions, but that line can blur if you?re a yoga instructor who teaches at more than one stud...
Infamous Tax Crimes
Although most Americans fill out their tax returns diligently and honestly, not all taxpayers are as respectful of the law. Some wealthy taxpayers cheat because they feel they already pay more th...
https://turbotax.intuit.com/tax-tips/fun-facts/infamous-tax-crimes/L6xR31HzN
Where's My Refund? Top 5 Reasons It's Been Delayed
It's a happy day when your federal tax refund arrives. Most taxpayers receive their refund within 21 days of filing, but sometimes the check is not in the mail or deposited to your bank account a...
Video: Tax Tips for Retirees
Learn how to minimize the amount of taxes you owe each year with these tax tips for retirees. Watch this short video for small tips that can make big savings when taxes are due.
https://turbotax.intuit.com/tax-tips/retirement/video-tax-tips-for-retirees/L8jchzZZb
7 Wacky Taxes from the US and Abroad
Death and taxes are the only certainties in life, and it seems there is no limit to when or how either can occur. Yet, there are tons of taxes that are stranger, and shorter lived, than others.
https://turbotax.intuit.com/tax-tips/fun-facts/7-crazy-taxes-from-the-us-and-abroad/L503QNBEQ
Filing Tax Form 8862: Information to Claim Earned Income Credit after Disallowance
The Earned Income Credit (EIC) is a valuable, refundable tax credit available to low and moderate income taxpayers and families. If your EIC was disallowed or reduced for reasons other than math ...
What is IRS Form 8824: Like-Kind Exchange
Ordinarily, when you sell something for more than what you paid to get it, you have a capital gain; when you sell it for less than what you paid, you have a capital loss. Both can affect your tax...
Guide to Schedule D: Capital Gains and Losses
The Schedule D form is what most people use to report capital gains and losses that result from the sale or trade of certain property during the year.
What Is the IRS Form 990?
Most tax-exempt organizations must annually file IRS Form 990, an informational tax form.
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-the-irs-form-990/L4asnXqjZ
Taxable Income vs. Nontaxable Income: What You Should Know
Knowing what to claim as taxable and nontaxable income can reduce your tax liability. Here's what you should know.
What Are Estate Taxes?
When someone in your family dies while owning property, the federal government imposes an estate tax on the value of all that property. The law that governs estates is constantly changing may be ...
https://turbotax.intuit.com/tax-tips/estates/what-are-estate-taxes/L5XwrftFW
Finding Your Health Care Marketplace
"The Health Care Marketplace is the key vehicle for finding affordable health insurance coverage that qualifies under the Affordable Care Act," says Mac Schneider, a retired certified public acco...
https://turbotax.intuit.com/tax-tips/health-care/finding-your-health-care-marketplace/L7g4v53Dl
Video: Tax Tips for the Newly Married
Newly married couples may have access to a variety of tax breaks depending on whether they file jointly or separately, as these tax tips will reveal. Enjoy your wedded bliss even more with the he...
https://turbotax.intuit.com/tax-tips/marriage/video-tax-tips-for-the-newly-married/L6xVkUbIW
What Is Form 8822: Change of Address
After moving into a new home, you may want to use Form 8822 to notify the Internal Revenue Service of your change of address. The IRS may send you notices, refunds paid with a paper check and oth...
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-form-8822-change-of-address/L9xsc3XDq
Tax Tips If You Have Had Your Identity Stolen
According to the U.S. Department of Justice, millions of Americans fall victim to identity theft each year. When it comes to taxes, the identity thief targets refunds from fraudulent tax returns ...
What Is Schedule J: Income Averaging for Farmers and Fishermen
Income averaging for farmers and fishermen provides a way to balance an income tax burden over several years, reducing the effects of both lean and bounty years. Schedule J is the Internal Revenu...
What is Code Section 6056 for Health Care Reform?
Section 6056 was added to the IRS tax code with the passing of the Affordable Care Act (also known as Obamacare) and explains what businesses need to do to notify their employees and the IRS abou...
What is IRS Form 6252: Installment Sale Income
When you sell something for more than you paid for it, you report the income on your taxes for the year in which the sale took place. Sometimes, though, the buyer spreads the payments out over mo...
What is Form W-7: Application for IRS Individual Taxpayer Identification Number
A W-7 Form is used to apply for an individual taxpayer identification number, or ITIN, for non-citizens who aren't eligible to receive a Social Security number but need to file a federal tax retu...
How to Check Your Tax Refund Status
The IRS has made it easy to check the status of your income tax return online with their "Where's My Refund" web page.
https://turbotax.intuit.com/tax-tips/tax-refund/how-to-check-your-tax-refund-status/L0pZQWVpr
Affordable Care Act Decoded
The health care reform law known as the Affordable Care Act may directly affect your tax liability.
https://turbotax.intuit.com/tax-tips/health-care/affordable-care-act-decoded/L1ZuynePQ
Do I Have to File a Tax Return if I Don't Owe Tax?
The IRS has restrictive guidelines for determining who needs to file, which means even if you don't owe, you may still have to submit a tax return.
What is a Schedule Q Form?
The Internal Revenue Service (IRS) has two very different forms that go by the name Schedule Q. One of them is for people who participate in certain real estate investments; this is known as a Fo...
https://turbotax.intuit.com/tax-tips/investments-and-taxes/what-is-a-schedule-q-form/L65EHSR77
Tax Deductions for Funeral Expenses
If you paid for funeral expenses during the tax year, you may wonder whether you can deduct these costs on your federal income tax return. According to IRS regulations, most individuals will not ...
https://turbotax.intuit.com/tax-tips/family/tax-deductions-for-funeral-expenses/L7pVU9Hlf
How to Deduct Mortgage Points on Your Tax Return
If you ever decide to take the plunge and buy a home, your mortgage will likely be the largest debt you'll ever take on. And as part of owning a home, you may be faced with fees in terms of mortg...
How Do I Get an Extension on Taxes?
If you're unable to complete your federal tax return by the deadline, find out how to get an IRS extension on your taxes and extend your tax filing deadline until October.
https://turbotax.intuit.com/tax-tips/tax-extensions/how-do-i-get-an-extension-on-taxes/L5ThSke8R
How to Determine if You Have Minimum Essential Coverage (MEC)
The Affordable Care Act, also known as Obamacare or ACA, requires most Americans to have health insurance that meets a government standard known as "minimum essential coverage," or MEC. Whether y...
Where Tax Dollars are Spent
Tax dollars are collected by the federal government and apportioned by Congress in the federal budget to fund various governmental programs.
https://turbotax.intuit.com/tax-tips/general/where-tax-dollars-are-spent/L0CBBjj5M
Five Tax Tips for Community Property States
Community property laws view marriage as a partnership in which both spouses equally share the income and assets they acquire after the wedding. Nine states?Wisconsin, Washington, Texas, New Mexi...
https://turbotax.intuit.com/tax-tips/marriage/five-tax-tips-for-community-property-states/L4jG7cq7Z
How Are My State Taxes Spent?
Each state is free to choose where to spend tax revenue. Here are some common uses.
https://turbotax.intuit.com/tax-tips/state-taxes/how-are-my-state-taxes-spent/L3QgHAO7H
What Is IRS Form 1099-DIV: Dividends and Distributions?
If some of the stocks you own pay dividends, or a mutual fund you invest in made a capital gains distribution to you during the year, you'll receive a 1099-DIV form.
5 Things You Should Know about Refundable Tax Credits
There are two types of tax credits available for taxpayers: refundable and nonrefundable. Both types offer you the chance to lower the amount of taxes you owe, but refundable credits can also get...
Top Five Ways to Avoid a Tax Audit
If the IRS does decide to audit you, there is little you may do to stop it. You may, however, reduce the odds that you will be singled out for that extra attention in the first place.
Video: Should a Married Couple File Jointly or Separately?
If you are married and deciding whether it's beneficial to file a joint tax return with your spouse, there are certainly issues you should consider first. Watch this video to learn more about how...
Video: When to Issue a 1099-MISC Tax Form
Do you operate a trade or business? If the answer is yes, you may want to learn about your potential 1099-MISC filing requirements. Watch this video to find out more about the requirements for is...
What is Form 8958: Allocation of Tax Amounts Between Certain Individuals in Community Property State
Several states have "community property" laws, which say that most income earned and most assets acquired during a marriage are the equal property of both spouses, regardless of whose name is on ...
Guide to IRS Form 8888: Direct Deposit of Your Tax Refund in Multiple Accounts
With the convenience and security of direct deposit available at most financial institutions, more taxpayers are requesting payment of their tax refunds by direct deposit.
Which Receipts Should I Keep for Taxes?
Knowing which receipts to save and which to toss will help you maximize your tax refund while minimizing the amount of paperwork you have to save for tax time each year.
Tips to Reduce Self-Employment Taxes
Self-employed? Aside from the income tax, you'll need to pay self-employment taxes that support the Medicare and Social Security programs. However, there are some ways you can reduce the amount y...
Tax Terms You Should Know
With the proper use of tax adjustments, deductions and credits, you can be sure that you're only paying the amount of tax that you legally owe.
What is Form 8332: Release/Revocation of Release of Claim to Exemption for Child by Custodial Parent
Having custody of your child usually means you can claim that child as a dependent on your taxes. But if you don't have to file a tax return, or you reach an agreement with your child's noncustod...
Who Pays the Transient Occupancy Tax?
"Transient occupancy tax" is paid on temporary lodging at hotels, motels, inns, hostels and similar places. Although the name "transient occupancy tax" is specific to California, similar lodging ...
What Percent of Church Giving Can Be Taken Off Federal Taxes?
When you prepare your federal tax return, the IRS allows you to deduct the donations you make to churches. If your church operates solely for religious and educational purposes, your donation wil...
How Do Tax Deductions Work When Donating a Car?
Donating your car to charity can result in significant tax savings if you include it in your charitable contribution deduction. However, doing a little planning will ensure that you maximize the ...
Video: How to Prove Head of Household for the IRS
Learn how to prove "Head of Household" status for the IRS with help from TurboTax in this video on tax tips.
Are Home Interest Loans Deductible From Taxes?
The federal government encourages you to purchase a home by allowing for the deduction of mortgage interest. Find out more about this deduction and how you can benefit from it.
What is Form 3468: Investment Credit
Governments often use tax laws to encourage, or discourage, certain activities. Want people to do more of something? Offer a tax break for it. The federal tax code includes a variety of tax credi...
Documents You Should Save for Tax Time
Settling your account with the Internal Revenue Service each year doesn?t need to be a frantic search for the information you need to file your tax return. Knowing what documents to have at your ...
Guide to Debt Cancellation and Your Taxes
If one of your creditors canceled a debt you owe, you'll likely receive a Form 1099-C this year. A number of exceptions and exemptions can eliminate your obligations to pay tax on the canceled de...
https://turbotax.intuit.com/tax-tips/debt/guide-to-debt-cancellation-and-your-taxes/L9YsOVhgB
Tax Steps to Add to Your Wedding Checklist
You've booked your band, your florist and even reserved that matching fondue pot you've had your eye on, but don't forget to invite Uncle Sam as part of your wedding planning. While the Internal ...
https://turbotax.intuit.com/tax-tips/marriage/tax-steps-to-add-to-your-wedding-checklist/L0RXOEQQW
Video: How to File for an Extension of State Taxes
If you don't have enough time to file your state income tax return by the deadline, you can file a tax extension.
Video: When to Use Tax Form 1040
Choosing which tax form to use can sometimes be tricky. In most cases, filing a 1040 is the way to go. This video will help explain the 1040 form and its updates since tax year 2018.
https://turbotax.intuit.com/tax-tips/irs-tax-return/video-when-to-use-tax-form-1040/L4a3T1smv
Who Can Garnish an Income Tax Refund?
Depending on the laws of your state, private creditors may have access to those funds. However, it's best to get all the facts before you start to panic.
https://turbotax.intuit.com/tax-tips/tax-payments/who-can-garnish-an-income-tax-refund/L7cPPzDyc
Facts about IRS Payment Plans
When you fall behind on your income tax payments, the IRS may let you set up a payment plan, called an installment agreement, to get you back on track. It is up to you, however, to take that firs...
https://turbotax.intuit.com/tax-tips/tax-payments/facts-about-irs-payment-plans/L1zHPFVDI
What is Form 4255: Recapture of Investment Credit?
When is a tax credit not a tax credit? When the IRS takes it back. If you're in the situation where you have to file IRS Form 4255, you might have to pay back a tax credit you've earned in prior ...
Can You Check for Unclaimed Tax Refunds?
The IRS puts a limit on the time in which you can claim a refund for the over-payment of tax. However, you can't check if you have a refund due to you until you complete a tax return. To amend a ...
https://turbotax.intuit.com/tax-tips/tax-refund/how-to-check-for-unclaimed-tax-refunds/L03XdLkr8
What is the Federal Supplemental Tax Rate?
If you receive any form of supplemental wages during the year, your employer may be required to withhold tax using a different method.
Video: Child Care Tax Credits
Did you pay for child care so you could work or look for work? If so, you may qualify for $3,000 in tax credits for one dependent, and a maximum of $6,000 for two dependents or more.
https://turbotax.intuit.com/tax-tips/family/video-child-care-tax-credits/L8RFKxplM
Tax Deductible Pregnancy Medical Expenses
The costs related to pregnancy and child birth can add up quickly. If you itemize deductions, the IRS allows you to deduct part of these costs.
https://turbotax.intuit.com/tax-tips/health-care/tax-deductible-pregnancy-medical-expenses/L8Xm5lM2k
What is Form 1099-B: Proceeds from Broker Transactions?
If you sell stocks, bonds, derivatives or other securities through a broker, you can expect to receive one or more copies of Form 1099-B in January. This form is used to report gains or losses fr...
Paying Property Taxes Online
Many local agencies are set up to accept property tax payments online. When paying property taxes online, it is important to note some considerations that can affect your federal income tax retur...
https://turbotax.intuit.com/tax-tips/home-ownership/paying-property-taxes-online/L8EjubOT4
Claiming a Non-Citizen Spouse and Children on Your Taxes
When your spouse and children are U.S. citizens, claiming them on your taxes is simple: just provide their names and Social Security numbers. When they're non-citizens, though, things may be a li...
How to Secure Your Tax Information Before a Disaster
How to keep your tax and financial information in order in preparation for unexpected disasters.
Beginner's Tax Guide for the Self-Employed
Before you take your first step into the world of entrepreneurship, there's a checklist of things you'll need to do to avoid tax problems while your venture is still in its infancy.
Top 5 Myths About Tax Audits
The myths about who or who does not get audited?and why?run the gamut. But, tax audits do not have to be feared. Find out the real deal when it comes to IRS audits and why most audit concerns are...
https://turbotax.intuit.com/tax-tips/irs-tax-return/top-5-myths-about-tax-audits/L5W989jzq
TurboTax Guides You Through Your Taxes Like a GPS
TurboTax Free Edition, for simple tax returns only, guides you through your tax return, step-by-step. It's free to prepare, free to print, free to e-file and helps you get to your maximum tax ref...
Hidden Federal Taxes You Pay
Federal taxes are attached to many of the items we purchase on a regular basis. The reason we don't notice or consider these taxes is that they're hidden in the purchase price of the item we're b...
https://turbotax.intuit.com/tax-tips/fun-facts/hidden-federal-taxes-you-pay/L1AUxT585
Video: How to Recover Past Tax Returns
If you need to recover a tax return from previous years, you have a few options. Watch this video to find how about recovering past years' tax returns.
Guide to IRS Form 1099-Q: Payments from Qualified Education Programs
You'll receive an IRS Form 1099-Q when you withdrawal money from a 529 plan or a Coverdell Education Savings Account (Coverdell ESA).
Tax Tips for Resident and Non-Resident Aliens
Even if you're not an American citizen, if you live in the United States or spend a significant amount of time there, you still need to pay U.S. income tax.
https://turbotax.intuit.com/tax-tips/general/tax-tips-for-resident-and-non-resident-aliens/L9Mm0x1i6
What Are State Sales Taxes?
Many states and local governments impose a direct tax on consumption when you purchase goods and services.
https://turbotax.intuit.com/tax-tips/state-taxes/what-are-state-sales-taxes/L3AqiZctj
Video: Guide to IRS Form 1098-T Tuition Statement
If you have education-related expenses, you may be eligible for an education credit or deduction. Watch this video to learn more about Form 1098-T Tuition Statement and qualifying education expen...
Are College Entrance Exams Tax Deductible?
The fees for taking SAT, ACT and other college entrance exams are not tax-deductible, but there are educational deductions and tax credits to help offset your family's college expenses. Find out ...
7 of the Wackiest Illegal Tax Deductions Ever Claimed
These 7 tax deductions were actually claimed, and?unfortunately for the individuals involved?turned out to be highly illegal.
Video: Tax Tips for Students
Students can accumulate tax reimbursements of up to $2,500 for tuition, books and supplies. Find out if you qualify for either the American Opportunity or the Lifetime Learning tax credits with i...
https://turbotax.intuit.com/tax-tips/college-and-education/tax-tips-for-students/L5jdbQio6
Penalties for Missing the 1099-NEC or 1099-MISC Filing Deadline
There are penalties for missing the deadline for the new 1099-NEC form and the updated 1099-MISC for both tax filers and businesses.
Video: How to Amend Your Tax Return
What to do if you filed your tax return with TurboTax, and now need to change it. TurboTax makes it easy to amend your tax return and file it again.
https://turbotax.intuit.com/tax-tips/amend-return/video-how-to-amend-your-tax-return/L2wLEwRf1
Video: Steps to Take When You Get an IRS Notice
When you receive a notice from the IRS, do not panic. Read the notice and then watch this video to find out what to do next.
Can I Deduct My Computer for School on Taxes?
You may be able to get back part of the cost of that computer you're using for school on your income taxes.
How Short Sales and Foreclosures Affect Your Taxes
If you engage in a short sale or your mortgage lender forecloses on your home, there are some important tax implications that you'll want to consider.
What Are Tax Deductions?
The federal tax law allows you to deduct several different personal expenses from your taxable income each year. This can really pay off during tax season because the reduction to taxable income ...
https://turbotax.intuit.com/tax-tips/tax-deductions-and-credits/what-are-tax-deductions-/L5CcKxGZE
What Is IRS Form 1099-SA: Distributions from an HSA, Archer MSA, or Medicare Advantage MSA?
When you use the funds from a Health Savings Account (HSA), or a medical savings account (MSA) such as an Archer MSA or Medicare MSA, the institution that administers the account must report all ...
What is IRS Form 8379: Injured Spouse Allocation
The Internal Revenue Service (IRS) has the power to seize income tax refunds when a taxpayer owes certain debts, such as unpaid taxes or overdue child support. Sometimes, a married couple's joint...
Video: Guide to Short Sales, Foreclosures and Your Taxes
If you are like most people, the purchase of a home is probably one of the biggest financial decisions you will ever make. But sometimes, circumstances beyond your control may require you to sell...
Video: Are Bonuses Included in Adjusted Gross Income?
You may be wondering if the bonus you receive at work is subject to special tax treatment. Watch this video to learn more about work bonus, and how they affect your Adjusted Gross Income, or AGI.
Filing IRS Form W-9
Filling out a W-9 form isn't difficult since it only requires a few pieces of basic information. You will usually submit a W-9 form when you receive payments for services you provide as an indepe...
https://turbotax.intuit.com/tax-tips/self-employment-taxes/filing-irs-form-w-9/L8Th53wVY
Video: How to Estimate the Value of Clothing for IRS Deductions
Learn how to estimate the value of clothing for IRS tax deductions as charitable donations. The value of clothing donations to charity are based on published lists of retail values or current thr...
Handling Notices from the IRS
Don't be alarmed if you've received a letter from the IRS. Not every letter means an audit. Most are routine and can be resolved in a few simple steps. Here's what to do if one shows up in your m...
https://turbotax.intuit.com/tax-tips/irs-letters-and-notices/handling-notices-from-the-irs/L8R6TXBW0
Affordable Care Act (Obamacare) Survival Guide For ALEs
A key feature of the Affordable Care Act (also known as Obamacare) is the way in which responsibility for affordable health care coverage is shared between stakeholders. Companies that employ 50 ...
How to File Tax Amendments
The Internal Revenue Code is lengthy and complex, which can sometimes mean that your personal income tax return includes some errors and omissions. The IRS allows you to voluntarily correct the m...
https://turbotax.intuit.com/tax-tips/amend-return/how-to-file-tax-amendments/L8aASQLoF
5 Facts About the Earned Income Credit
Many qualified taxpayers overlook the Earned Income Credit (EIC), potentially missing out on thousands of dollars at tax time. Here are 5 facts every taxpayer should know about the EIC.
Do I Qualify for Earned Income Credit While on Unemployment?
Receiving unemployment benefits doesn't mean you're automatically ineligible for the Earned Income Credit, but there are other requirements you'll also need to satisfy to claim the EIC.
Now Everyone Can Convert to a Roth
New rules for converting your traditional IRA to a Roth IRA began in 2010. Now everyone can convert to a Roth IRA.
Myths About Quarterly Taxes for the 1099 Tax Form
For those who pay quarterly taxes?or those who don't, but think they should?knowing who pays and when estimated taxes are due may help you throughout the year.
Getting Divorced
If you're going through a divorce, taxes may be the last thing on your mind, so we're here to help. We've got tips for you on which filing status to choose after the divorce, who can claim the ex...
https://turbotax.intuit.com/tax-tips/marriage/getting-divorced/L20NC66cf
Taxes and Moving to a New State
If you are considering moving to another state, you might want to consider states that do not have state income tax: Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming. Before y...
https://turbotax.intuit.com/tax-tips/state-taxes/taxes-and-moving-to-a-new-state/L4lOoXL90
What Are Tax Appeals?
Tax appeals are a common way to resolve disagreements you have with the IRS that relate to items you report on your return. If you decide to go this route, there are procedures you must follow to...
https://turbotax.intuit.com/tax-tips/irs-letters-and-notices/what-are-tax-appeals/L8DeRP3m8
Are Short-Term Disability Claim Payments Considered Earnings?
Temporary disability, such as an injury, serious medical condition, or even pregnancy, can be covered by short-term disability payments obtained through private insurers, state insurance programs...
Video: Tax Tips for the Self-Employed
The rules for self-employed taxpayers can be complicated. But there's no need to worry as long as you follow some basic rules from the IRS.
How to Report RSUs or Stock Grants on Your Tax Return
Restricted stock units (RSUs) and stock grants are often used by companies to reward their employees with an investment in the company rather than with cash. As the name implies, RSUs have rules ...
Buying a Second Home?Tax Tips for Homeowners
Buying a second home? TurboTax shows you how mortgage interest, property taxes, rental income, and expenses will affect your tax return.
Health Insurance Assistance for the Unemployed
Having health insurance can help lower the financial stress of unemployment. Although finding affordable coverage becomes a challenge when you don't have a job, but options do exist.
How Are Federal Taxes Spent?
All citizens must pay taxes. How are these federal taxes being spent?
https://turbotax.intuit.com/tax-tips/general/how-are-federal-taxes-spent/L6kinGuUt
5 Ways to Reduce Your Taxes for Next Year
Taxpayers can take advantage of some easy ways to lower their tax bill.
What Is a Tax Preparer?
A tax preparer is an individual who prepares, calculates, and files income tax returns on behalf of individuals and businesses. There are several different types of tax preparers, with some havin...
https://turbotax.intuit.com/tax-tips/tax-pro/what-is-a-tax-preparer/L6qaPUWtX
What is a Tax Professional?
Anyone who prepares income taxes for a fee can be considered a professional tax preparer, but not all professional tax preparers can represent you before the IRS on tax matters. Only Federally Au...
https://turbotax.intuit.com/tax-tips/tax-pro/what-is-a-tax-professional/L1sHBRXxW
What Is a Tax Accountant?
Accountants that specialize in the laws, rules, and regulations for the preparation and calculation of federal, state, and local taxes are typically known as tax accountants. Tax accountants prov...
https://turbotax.intuit.com/tax-tips/tax-pro/what-is-a-tax-accountant/L0U5KAIj2
Top 10 Oddball Tax Deductions
TurboTax helps you find every deduction and credit you deserve to help you get your maximum tax refund. But just for fun, we've uncovered what we think are the weirdest deductions allowed, from p...
https://turbotax.intuit.com/tax-tips/fun-facts/top-10-oddball-tax-deductions/L6Er4McQU
What is IRS Form 1040-ES: Estimated Tax for Individuals?
The IRS provides Form 1040-ES for you to calculate and pay estimated taxes for the current year. While the 1040 relates to the previous year, the estimated tax form calculates taxes for the curre...
What is an IRS Preparer Tax Identification Number (PTIN)?
An IRS Preparer Tax Identification Number (PTIN) is a number issued by the IRS to a professional tax preparer, such as Certified Public Accountants (CPAs) and Enrolled Agents (EAs). A PTIN is onl...
Multiple States - Where To File
Learn where to file state income taxes, even if you're in the military, or earned money in multiple states. TurboTax will calculate how much you owe to the different states where you have earned ...
https://turbotax.intuit.com/tax-tips/state-taxes/multiple-states-where-to-file/L0y8SIqJ3
Tax Efficiency: ETF vs Mutual Fund
Investors often seek diversified portfolios while aiming to keep expenses low, which includes the tax impact of investing. A good combination of these goals comes from examining an ETF vs mutual ...
Reasons Why You Should File Your Taxes Early
With e-file now open, Lisa Greene-Lewis, CPA and TurboTax tax expert, discusses why it is a good idea to file your taxes now.
https://turbotax.intuit.com/tax-tips/videos/reasons-why-you-should-file-your-taxes-early/L4f4FWdqS
Do You Pay Taxes on Investments? What You Need to Know
As you start to diversify your financial portfolio, you'll likely look into investing. But do you pay taxes on investments? How much should you plan to account for? Our guide outlines some import...
Tax Tips for Retirement
Saving for retirement? TurboTax can help with your 401(k), IRA, stock options, Social Security, pensions, annuities and more.
https://turbotax.intuit.com/tax-tips/retirement/tax-tips-for-retirement/L4s2HEzIK
Video: Charitable Tax Deductions: How to Save on Your Taxes
Knowing the IRS rules behind charitable contributions can help you save money. Lisa Greene-Lewis, CPA and TurboTax tax expert, explains what you need to know.
Foreign Tax Credit and Other Tax Implications of Foreign Investments
As you consider broadening your financial portfolio, you may be interested in foreign investments. But, before you begin, there are some things you should be aware of ? such as the foreign tax cr...
What Are Tax Shelters?
A tax shelter is any legal strategy you employ to reduce the amount of income taxes you owe.
https://turbotax.intuit.com/tax-tips/general/what-are-tax-shelters/L1lnTrLeZ
Answers to Common Questions from New Investors on Investor Apps, Accounts, and Tax Forms
Trading stocks can have an effect on your taxes. Using an investing app such as Robinhood, Acorns, or SoFi can mean you may be receiving tax forms from these providers. If you're a first-time inv...
Are You An Accidental Landlord? Here's How to Tackle Your Taxes
Even if you didn't plan to become a landlord, that won't change the tax obligations you have for the property. There are nuances of being a landlord and we'll explain how it impacts your tax retu...
Tax-Smart Investing in a Volatile Market
In a year of extreme economic change, it may be hard for investors to decide what to do when it comes to balancing gains and losses and reporting those fluctuations to the IRS. Learn about the di...
Day Trading Taxes: What New Investors Should Consider
How does trading stocks affect your taxes? Over-trading can have a serious impact on finances. Learn how to be aware of day trading taxes and reduce your tax liability.
What is a Wealth Tax?
How does a wealth tax work? Does one exist in the United States? Find out what this tax consists of and how it may affect what you pay.
https://turbotax.intuit.com/tax-tips/general/what-is-a-wealth-tax/L2aHMCBRm
How to File for an Extension of State Taxes
While the IRS requires you to file Form 4868 to request a tax extension, each state has its own requirements for obtaining a similar extension.
Federal Tax Deductions for Home Renovation
There are a number of ways that you can use home renovations and improvements to minimize your taxes.
Are Gambling Winnings Taxable? Top Tax Tips
You won big on a bet, but how much will you owe Uncle Sam? TurboTax CPA Lisa Greene-Lewis has more details about gambling and your taxes.
https://turbotax.intuit.com/tax-tips/videos/are-gambling-winnings-taxable-top-tax-tips/L9PjG2QW5
Filing an Income Tax Extension
If you aren't able to complete your federal tax return by the filing deadline, find out how and when to file for an IRS extension with these tips from TurboTax.
https://turbotax.intuit.com/tax-tips/tax-extensions/filing-an-income-tax-extension/L5GIzgJaS
Reasons for Filing for an Extension on Your Federal Taxes
The IRS grants you an automatic extension to file your taxes every year, as long as you complete Form 4868.
Taxes 2023: 4 Upcoming Tax Law Changes
Tax Year 2021 will likely bring some surprises, but some of its changes are already planned. Here's what you need to know about some of the planned phase-outs, changes and inflation adjustments t...
https://turbotax.intuit.com/tax-tips/general/taxes-2021-7-upcoming-tax-law-changes/L3xFucBvV
Losing a Job
Leaving a company? In between jobs? TurboTax handles taxation of separation pay, writing off job-search expenses, and more.
https://turbotax.intuit.com/tax-tips/unemployment/losing-a-job/L5BpKHDN2
Home Improvements and Your Taxes
As a homeowner you may be asking, "Do I get a tax break for all the money I've spent fixing up my house?"; The answer depends on the kinds of improvements you've made and how well you've kept tra...
https://turbotax.intuit.com/tax-tips/home-ownership/home-improvements-and-your-taxes/L6IwHGrx6
Everything You Need to Know About Filing Taxes on Winnings
The Internal Revenue Service (IRS) states that you need to include all of your income on your tax return. Now, it's a no-brainer that you'll report the income from your job and your freelance wor...
Serving Uncle Sam: Tax Breaks for the Military
Nothing can make up for the hardship of serving in the armed forces. But the government does offer some special tax breaks so that soldiers don?t have to add income taxes to their list of worries...
Form W-4 and Your Take-Home Pay
Find out how to adjust your W-4 withholding so you're not giving Uncle Sam a big interest-free loan, or setting yourself up for a big bill at tax time.
https://turbotax.intuit.com/tax-tips/irs-tax-forms/form-w-4-and-your-take-home-pay/L4VSEhPez
Keeping Yourself Safe from Tax Scams Today
Tax scams don't all look the same, but they are all intended to steal your money. Most fall into one of several categories of illicit acts, including phone scams, phishing and tax provider scams....
https://turbotax.intuit.com/tax-tips/security/keeping-yourself-safe-from-tax-scams-today/L1N2XIlE1
Video: How to Recover a 1099 Tax Form
Are you waiting for your 1099 forms to arrive so you can start preparing your tax return? Or do you need to obtain copies of older ones for some other reason? If you answered yes to either, there...
Amending Your Income Tax Return
What if you've sent in your income tax return and then discover you made a mistake? You can make things right by filing an amended tax return using Form 1040-X. You can make changes to a tax retu...
https://turbotax.intuit.com/tax-tips/amend-return/amending-your-income-tax-return/L4B7pN42I
Home Ownership Tax Deductions
You know that you can get an income tax deduction on the mortgage interest you pay. But there are other tax deductions you can take on your principal residence or second home -- such as property ...
https://turbotax.intuit.com/tax-tips/home-ownership/home-ownership-tax-deductions/L7nXpU8Xz
Ministers and Taxes
If you are a minister, you are subject to some tricky income tax and Social Security tax rules. We'll point out: How your income is taxed; how to claim an exemption from self-employment tax; how ...
https://turbotax.intuit.com/tax-tips/self-employment-taxes/ministers-and-taxes/L2EiSFEMT
Video: How to File Taxes Online in 3 Simple Steps
We've made it easy, quick, and secure to file your taxes online. Here's how to do it in just 3 simple steps.
https://turbotax.intuit.com/tax-tips/videos/video-how-to-file-taxes-online-in-simple-steps/L2pjuqWBA
What Is the IRS Form 5695?
You must complete IRS Form 5695 if you qualify to claim the non-business energy property credit or the residential energy-efficient property credit.
https://turbotax.intuit.com/tax-tips/going-green/what-is-the-irs-form-5695/L9D6ARQ0p
Forget the Forms?TurboTax Has You Covered
TurboTax has all the forms you need to do your taxes. But don't worry?you'll never need to see a single IRS tax form if you don't want to.
https://turbotax.intuit.com/tax-tips/brand/forget-the-forms-turbotax-has-you-covered/L0cPBCWRJ
E-file: Income Tax Return Electronic Filing
Forget that paper tax return! Electronic filing (e-filing), online tax preparation and online payment of taxes are getting more popular every year. If you've wondered about e-filing, here are the...
https://turbotax.intuit.com/tax-tips/e-file/e-file-income-tax-return-electronic-filing/L9DnoQ39y
3 Great Tips for Your 2023 Taxes
There's no reason to wait until tax time to start making sure you've checked all the right boxes. Here are three tips for making the most of your money when it comes to filing your taxes in 2023.
Tax Professionals Beware: Tax Scams Targeting You
For tax professionals everywhere, the move from physical paperwork to digital tax filing means that client privacy and cyber security are more important than ever. And while the Internal Revenue ...
Tax Tips for Content Creators
Social media content creators are part of a relatively new profession. Categorized as self-employed by the IRS, influencers and content creators may be able to take advantage of certain deduction...
https://turbotax.intuit.com/tax-tips/self-employment-taxes/tax-tips-for-content-creators/L85bpVMLH
What to Know About Taxes on Found Property
It?s happened to many of us at some point?you may be walking along a street and look down. Lo and behold, there?s a $20 bill in your path. Or maybe it?s a silver bracelet. Either way, it?s found ...
https://turbotax.intuit.com/tax-tips/general/what-to-know-about-taxes-on-found-property/L9BfdKz7N
3 of the Weirdest Tax Laws from History
Truth is sometimes stranger than fiction. Here are some of the weirdest tax laws from throughout history and around the world that defy even the most creative author's imagination.
https://turbotax.intuit.com/tax-tips/fun-facts/the-weirdest-tax-laws-from-history/L6gj9t7Yy
Video: 1099-MISC and 1099-NEC: What's the Difference?
Starting with the 2020 tax year, certain payments previously reported on Form 1099-MISC will now be reported on Form 1099-NEC if you are self-employed, a freelancer, contractor, or work a side gi...
Video: First Time Filing for Unemployment
Losing your job can be a difficult and uncertain time. We're here to walk you through filing for unemployment for the first time in this first part of a 2-part series.
https://turbotax.intuit.com/tax-tips/videos/video-first-time-filing-for-unemployment/L8SJzBae6
Which Charitable Contributions are Tax Deductible?
For giving money, goods, or property to certain types of organizations, the IRS allows you to take a tax deduction. Only donations to groups defined by section 501(c)(3) of the Internal Revenue C...
Incentive Stock Options
Some employers use Incentive Stock Options (ISOs) as a way to attract and retain employees. While ISOs can offer a valuable opportunity to participate in your company's growth and profits, there ...
https://turbotax.intuit.com/tax-tips/investments-and-taxes/incentive-stock-options/L4azWgfwy
Video: 3 Biggest Tax Mistakes Made by Gen Z and Millennials
CPA and TurboTax tax expert Lisa Greene-Lewis joins TheStreet to discuss how younger tax filers can avoid some common mistakes at tax time.
What Documents Do I Need to Bring to My Tax Preparer?
Whether you prepare your taxes yourself or get help from a tax preparer online or in-store, knowing what documents you'll need at hand can help prevent tax filing errors and possibly lower your t...
What is a CPA (Certified Public Accountant)?
A CPA (Certified Public Accountant) is an accounting professional licensed and credentialed by a state or territory to offer accounting services, including tax preparation, to the public.
https://turbotax.intuit.com/tax-tips/tax-pro/what-is-a-cpa-certified-public-accountant/L7j89I3QS
What Are Tax Audits?
A tax audit is an examination of your tax return by the IRS to verify that your income and deductions are accurate.
https://turbotax.intuit.com/tax-tips/irs-letters-and-notices/what-are-tax-audits/L2JeNdH99
4 Types of Tax Preparers
There are four general types of tax preparers: certified public accountants, enrolled agents, tax attorneys, and non-credentialed preparers. Here's a quick guide on the differences between them.
https://turbotax.intuit.com/tax-tips/tax-pro/types-of-tax-preparers/L33DBILLr
Another Side of the IRS
Former insiders, tax experts and regular taxpayers say the IRS gets a bad rap for just doing what it was set up to do: collect taxes.
https://turbotax.intuit.com/tax-tips/general/another-side-of-the-irs/L2yPpKDGS
How to Correct Federal Tax Returns
The IRS has a simple process in place that allows you to amend your tax return. Find out how to amend your tax return in this article on tax tips.
https://turbotax.intuit.com/tax-tips/amend-return/how-to-correct-federal-tax-returns/L67t0F7il
Understanding Tax Liability for Investments
Whether you?re investing for short term profit or long-term goals, understanding your tax liability from gains and losses can help you make better investment decisions.
What Are Tax Extensions?
The IRS allows individuals, businesses and estates to file a tax return after the deadline by obtaining an extension.
https://turbotax.intuit.com/tax-tips/tax-extensions/what-are-tax-extensions/L5IG9YiQ7
How to Withhold Your Own Taxes
If you have no employer to withhold federal taxes, then you're responsible for withholding your own.
https://turbotax.intuit.com/tax-tips/self-employment-taxes/how-to-withhold-your-own-taxes/L3GoffPzV
Making Taxes Easy: Tips for Organizing Receipts and Expenses
Tracking your expenses could help you save money at tax time. But it's essential that you keep receipts and documentation to back up each expense and justify your deductions if necessary. Follow ...
Self-Employment Taxes in Today's Gig Economy
Changing jobs or industries can be daunting for many reasons. It can also have an impact on your taxes. If you're adjusting to becoming self-employed or working multiple jobs for the first time, ...
How to Minimize Taxable Events
Getting yourself ready for tax season can be a year-round job, especially if you?re looking to minimize what you?ll owe at tax time. In that case, it?s helpful to understand what taxable events a...
https://turbotax.intuit.com/tax-tips/investments-and-taxes/how-to-minimize-taxable-events/L7vN8giRt
Video: How Does a Furlough or Lay-off Impact Your Taxes
Being furloughed or laid off are different and can result in implications for you and your taxes.
What Are Personal Property Taxes?
If you itemize deductions on your federal tax return, you may be able to claim a deduction for the personal property taxes you've paid.
https://turbotax.intuit.com/tax-tips/home-ownership/what-are-personal-property-taxes/L2KFeovaB
What Are Tax Schedules?
A tax schedule is a form the IRS requires you to prepare in addition to your tax return when you have certain types of income or deductions. These commonly include things like significant amounts...
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-are-tax-schedules/L5kLJtHE7
Don't Fear the Tax Man: Handling IRS Letters & Notices
The Internal Revenue Service (IRS) will almost certainly send you a letter or notice when you have unpaid taxes due. But you may also receive a letter from the agency for other reasons. Here's so...
What is Form 1040-V?
Learn about which situations require Form 1040-V, as well as how to fill out this IRS payment voucher.
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-form-1040-v/L2fNd0KiN
Video: NFT Tax Tips for Investors and Creators
What is an NFT, and is it taxable? CPA and TurboTax tax expert Lisa Greene-Lewis joins TheStreet for an introduction to NFTs and taxes.
https://turbotax.intuit.com/tax-tips/videos/video-nft-tax-tips-for-investors-and-creators/L5oRR87Cl
Video: Can I E-File If I Owe Taxes?
Filing your tax return online can be extremely convenient. But did you know the IRS also allows you to make payments on taxes you owe from previous years? Watch this video to learn more about e-f...
https://turbotax.intuit.com/tax-tips/e-file/video-can-i-e-file-if-i-owe-taxes/L13v6aK9G
Video: Tax Forms for Reporting Unemployment
We're here to help you navigate through the tax forms you need for reporting unemployment. This is the 2nd part in our 2-part series on unemployment and taxes.
https://turbotax.intuit.com/tax-tips/videos/video-tax-forms-for-reporting-unemployment/L4K4r84We
Video: What Are Tax Extensions?
Tax extensions are available to anyone who needs extra time to file, but it does not apply to payment deadlines. Submit the proper forms before the tax filing deadline to get a filing extension w...
https://turbotax.intuit.com/tax-tips/tax-extensions/video-what-are-tax-extensions/L7YxMFI6g
What Is Form 2848, Power of Attorney, and When Is It Used?
To protect your privacy, IRS employees won't talk to just anyone about your taxes. To give them permission to discuss your taxes with someone else, you'll need Form 2848.
Deducting Medical Expenses for a Major Illness or Injury
TurboTax helps you understand medical expense deductions, HSA and MSA distributions, flexible spending accounts, IRA and 401(k) payouts for medical expenses, and more.
Tax Avoidance, Tax Evasion and Tax Sheltering: How They Differ
Understanding the differences and nuances between tax avoidance, tax evasion, and tax sheltering and when you might encounter each is crucial to ensure that you?re not unknowingly committing an i...
What is Direct Tax?
Direct taxes are a common form of taxation, with examples you might recognize from the taxes you come across every year.
https://turbotax.intuit.com/tax-tips/general/what-is-direct-tax/L6yHGGmVe
Taxes & Remote Working: Deductions for Employees Working From Home
Were you among the employees forced to work from home in 2021? TurboTax CPA Lisa Greene-Lewis breaks down what is and isn't deductible for remote workers who are filing taxes.
Video: How Tax Loss Harvesting Can Offset Gains
Take a closer look at your portfolio now, and consider tax-loss harvesting for next year's taxes. CPA and TurboTax tax expert Lisa Greene-Lewis explains why.
Death in the Family
The IRS demands a final accounting, and it's up to the executor or survivors to file the paperwork. Here's what you need to know about the deceased's final tax return, reporting income and deduct...
https://turbotax.intuit.com/tax-tips/family/death-in-the-family/L5albFXM4
How to Avoid Taxes on Canceled Mortgage Debt
If you lost your principal residence to a foreclosure or short sale, TurboTax can help you deal with the tax implications, including recent tax law changes that can offer some relief.
ETFs vs. Mutual Funds: Understanding Which is Right for You
Exchange Traded Funds (ETFs) and mutual funds are collections of individual stocks, bonds, commodities, or other funds ? or a combination of these.
Are Political Contributions Tax Deductible?
When elections start picking up, you might be looking to donate or work with your campaign of choice. But are political contributions tax-deductible?
Filing Taxes After a Divorce: Is Alimony Taxable?
Filing for a divorce can cause some complexities in your tax situation. Learn how alimony is taxed and other tax reporting tips you should know while filing taxes after a divorce.
Are 403(b) Contributions Tax Deductible?
Employees of various non-profit organizations, such as schools and other tax-exempt organizations, can benefit from enrolling in a 403(b) plan, officially known as a tax-deferred annuity. Find ou...
https://turbotax.intuit.com/tax-tips/retirement/are-403b-contributions-tax-deductible/L8AshU5Nb
6 Common Mistakes When Filing Taxes That are Easy to Avoid
Tax season might feel a little daunting sometimes. Mistakes might happen unintentionally when filing. We?ll review some of the most common filing mistakes so you know what to look out for.
A Guide to Self-Employment Taxes for Contractors, Freelancers, and Beyond
If you work for yourself and don't call anyone your boss, you're likely self-employed. This carries advantages, like not having a manager and deciding your own hours. But it also comes with trade...
What Are Education Tax Credits?
If you or your dependent is a student, you may want to determine whether you are eligible for one of the two educational tax credits that cover common student expenses. Find out more about these ...
https://turbotax.intuit.com/tax-tips/college-and-education/what-are-education-tax-credits/L7TuLrVqZ
What is Form 1099-A?
If you experience a foreclosure, you may need to file Form 1099-A
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-form-1099-a/L0NyHDAsE
What Is Form 8911: Alternative Fuel Vehicle Refueling Property Credit
In light of rising gasoline prices and environmental concerns, consumers have become more receptive to buying cars and trucks that run on types of fuel other than gasoline. The U.S. government in...
Can I Claim a Boyfriend/Girlfriend as a Dependent on Income Taxes?
You can claim a boyfriend or girlfriend as a dependent on your federal income taxes if that person meets the IRS definition of a "qualifying relative."
How to Change Your Tax Filing Status
Choosing your filing status is an important first step for preparing your federal tax return. Your filing status determines your standard deduction, tax rates and brackets.
https://turbotax.intuit.com/tax-tips/irs-tax-return/how-to-change-your-tax-filing-status/L5yYux3qL
What To Do If You Haven't Received a W-2
With tax season picking up, taxpayers across the country are eagerly awaiting their W-2s so they can file their returns and claim any refunds they might be owed. But, if you haven?t received your...
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-to-do-if-you-havent-received-a-w-2/L1Jg4rlHB
Navigating Family Trusts and Taxes
Family trusts offer a solution for managing assets such as a home or an investment portfolio and there are certain tax implications involved that taxpayers should know about.
https://turbotax.intuit.com/tax-tips/family/navigating-family-trusts-and-taxes/L27DrzOCJ
Guide to IRS Tax Penalties: How to Avoid or Reduce Them
Tax penalties can be daunting, but they don't need to be confusing. Here's how you can minimize or avoid the most common penalties imposed by the IRS.
Is It Possible to Lower My Effective Tax Rate? What Are My Options?
It's possible to lower your effective tax rate and pay less on your taxes through a mix of tax-free income, tax deductions and credits, and the proper use of a tax deferral.
What Is the IRS Form 8863?
If you plan on claiming one of the IRS educational tax credits, be sure to fill out a Form 8863 and attach it to your tax return. These credits can provide a dollar-for-dollar reduction in the am...
https://turbotax.intuit.com/tax-tips/college-and-education/what-is-the-irs-form-8863/L2197Yqcq
A Tax Guide for Solopreneurs: Self-Employed Tax Tips
Flying solo can be the ultimate business adventure. When you run your own business and you're the only employee, you truly hold all the cards and earn the freedom to achieve your ideal work-life ...
Crypto Tax Forms
If you trade or exchange crypto, you may owe tax. Crypto transactions are taxable and you must report your activity on crypto tax forms to figure your tax bill.
https://turbotax.intuit.com/tax-tips/investments-and-taxes/crypto-tax-forms/L8tQmALU3
What is IRS Form 1040 Schedule 3?
Form 1040 isn't as long as it used to be, thanks to a few new schedules. This article provides guidance for filling out Schedule 3 and explains which taxpayers may need to use it.
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-irs-form-1040-schedule-3/L7MlK3GUi
4 Crypto Tax Myths You Need to Know
Interest in cryptocurrency has grown rapidly in recent years, bringing with it tax implications people should know.
7 Free Things That Are Actually Free and What Is In It for Them
There are many "free" offers today that seem to be too-good-to-be-true. However, many of these offers are legitimate and you can score something for free. Find out why certain offers are free, an...
TurboTax Tips Podcast by TurboTax
TurboTax is thrilled to announce the first ever TurboTax podcast series: "TurboTax Tips"! You can now access expert tax tips via audio on your computer, smart and mobile devices anytime, anywhe...
https://turbotax.intuit.com/tax-tips/brand/turbo-tips-podcast-by-turbotax/L7t66Mpj6
Smart Strategies for Using Your Tax Refund
According to the IRS, the average federal tax refund for personal tax filers was $2,827 in tax year 2020. While it might be tempting to see this extra cash as a chance to splurge, consider using ...
https://turbotax.intuit.com/tax-tips/tax-refund/smart-strategies-for-using-your-tax-refund/L4DTuN3Nv
A Brief History of Income Taxes
Did you know President Abraham Lincoln, one of America's most beloved leaders, also instituted one of its least liked obligations?the income tax? In this brief history of taxes, see the historica...
https://turbotax.intuit.com/tax-tips/fun-facts/a-brief-history-of-income-taxes/L47BWhvaK
Inside the 2009 Stimulus Package
Note: The content of this article applies only to tax years prior to 2011. It is included here for reference only. See a visual breakdown of what the 2009 American Recovery and Reinvestment Act?a...
https://turbotax.intuit.com/tax-tips/tax-relief/inside-the-2009-stimulus-package/L39uWZ9ic
2009 Stimulus: Unemployment Benefits Get Big Boost
The 2009 stimulus bill extends the period of time that workers who have lost their jobs can collect unemployment benefits.
https://turbotax.intuit.com/tax-tips/unemployment/unemployment-benefits-get-big-boost/L2AIrns4g
What is IRS Form 1040 Schedule 5?
This article will explain why you might need to complete a Form 1040 Schedule 5 and offer detailed guidance on how to fill one out.
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-irs-form-1040-schedule-5/L8aix1X5w
What Is IRS Form 8910: Alternative Motor Vehicle Credit?
If you purchased a vehicle with fuel cells in or before 2021, you may qualify for a tax credit. IRS Form 8910 is used to figure out that credit.
Video: Who Qualifies for the 2015 Earned Income Tax Credit
Find out whether you qualify for the Earned Income Tax Credit by answering six yes or no questions. This video will help you get started with the Earned Income Credit (EIC) and help you get all t...