Irs | 2008 Taxes

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You Bought a House, Claim the First-Time Homebuyers Credit

March 3, 2010 – 10:27 pm

There are a number of documentation requirements when you go to file your return for 2009 and you want to claim the First-Time Homebuyers Credit. This great credit of $8,000 helps with fixing up the new house or paying off some moving expenses. But claiming the credit requires a number of documents and filing a paper return with the IRS.

By Steve | Posted in Tax Preparation, property taxes, tax credit, turbotax | Also tagged 1098, 2009, certificate of occupancy, documents, first-time home buyers, Hud-1, long-term buyer, mortgage interest statements, paper return, retail sales contract, settlement statement, tax credit, tax return | Comments (0)

Capital Gains and What to Report to the IRS

March 2, 2010 – 5:47 pm

Capital Gains and Losses are the result of holding capital assets for investment or for personal use. Capital Assets held for investment result in a capital gain or loss when sold compared to their basis, or what you purchase the asset for. Capital Assets held for personal use can only create a capital gain. All capital gains must be reported to the IRS.

By Steve | Posted in Tax Preparation, capital gain, turbotax | Also tagged 1040, capital gains, carried forward, investment, losses, publication 17, schedule d, Tax Preparation, tax rate | Comments (0)

TaxAct is the Completely Free Federal Option

March 9, 2009 – 9:12 pm

If you are looking for the best and completely free option for filling your federal tax return this season, TaxAct is the solution for you. You can prepare, print, and eFile your return for no fee what-so-ever and only pay a small $13.95 free if your state requires an income tax return.

By Steve | Posted in Tax Preparation | Also tagged efile, federal tax return, Free Application for Federal Student Aid, online return, state tax return, taxact | Comments (5)

Income that is Not Taxable

March 5, 2009 – 6:59 pm

Almost all income earned by American citizens is taxable but there are some exceptions that the IRS makes based on taw law. Some forms of income that the IRS deems not to be nontaxable include adoption expense reimbursements, child support, gifts, worker’s compensation benefits, welfare benefits, and economic stimulus payments received during the last tax year.

By Steve | Posted in Stimulus Bill, Tax Preparation | Also tagged income, nontaxable income, scholarships and grants, taxable income, welfare benefits, workers compensation | Comments (8)

Discover the #1 Way to Reduce Your Taxes

August 24, 2009 – 11:38 am

The Federal Stimulus Bill has made many changes to the way taxes need to be filed for everyday people like you.

By Steve | Posted in Tax Preparation, arra, tax credit, turbotax | Also tagged federal stimulus, Recovery & Reinvestment Act, taxes, turbo tax, turbotax, turbotax 2009, unemployment benefits | Comments (5)

Use your Home Office as a Tax Deduction in 2009

March 23, 2009 – 2:19 am

There are certain requirements but if you work from home and have an office in the home, you can deduct the space along with your other business expenses on your 2008 tax filing. There are types of use needed to be able to take this very helpful business deduction. First, you use the space exclusively and regularly for your business. Or two, you use the space as storage for business inventory on a regular basis.

By Steve | Posted in Home Business, Tax Preparation | Also tagged 2008 taxes, 2009 taxes, form 8829, Home Business, home office, schedule c, tax deduction | Comments (12)

Top Five IRS Tax Tips for January 2009

February 7, 2009 – 8:27 pm

The IRS has released their top 10 tax tips for January 2009 and we are presenting the first 5 tips here for you. Make sure to check back with us for more tax tips and great tax services available online for your 2008 tax return.

By Steve | Posted in Tax Preparation | Also tagged 2008 taxes, 2009, e-file, efile, online filing, tax return, tips | Comments (5)

5 Things about Identity Theft and Tax Returns

February 11, 2009 – 6:55 pm

Five things about Identity Theft from the IRS that you need to know to avoid scams this tax season. What to expect from the IRS in the form of communication and who to contact if you think you have become a victim.

By Steve | Posted in Identity Theft | Also tagged Identity Theft, tax return, toll free number | Comments (0)

EasyTaxReturns.com Offers Free eFiling

February 21, 2009 – 5:23 pm

If you’re looking for an online electronic tax return filing option, take a look at EasyTaxReturns.com as they have several very good programs which include free eFiling with your return. Their tax return application is guaranteed to be 100% accurate, it is easy to use, and you don’t need a credit card.

By Steve | Posted in Tax Preparation | Also tagged easy taxes, efiling, federal return, resources, tax return, tax tips | Comments (1)

TaxSimple – Online Tax Preparation Software

February 16, 2009 – 6:03 pm

Prepare your federal tax return for free and only pay a small $9.99 fee if you print of eFile your return. Why not try it before you purchase? And all versions of the software are currently priced at the low $9.99 price including Simple, Deluxe, Premier, and Ultimate. Only pay more if you have a complex business return.