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Common Questions About Taxes (Part 1)

Posted in Taxes
March 3rd 2015 by
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Still figuring out your 2014 tax return? Here are answers to common questions the IRS gets. Who Can I Claim as a Dependent? You can claim a child as long as: He or she is related to you biologically, through adoption or through marriage The child lived with you for at least half the year You financially supported the child and are the only person claiming him or her as a dependent You can claim an adult if: He or she lived with you the entire year He or she made less than $3,950 You financially supported this person and…

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Life Events That Affect Your Taxes

Posted in Taxes
February 26th 2015 by
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As you experience various life events, you’ll also experience changes in your tax situation. Some will help you, some will hurt, but the important thing is to report your taxes correctly and know how each situation will affect you. While this is not an all-inclusive list, here are six situations that can impact your taxes. Getting Married You have two filing options after you’re married: “married filing jointly” or “married filing separately.” Filing jointly may entitle you to more tax benefits. You should also ask your HR department if you can review your W-4 to ensure you’re not under-withholding. Having…

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Be On the Lookout for These Tax Scams

February 19th 2015 by
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Tax season is a prime season for identity thieves. There are many different types of scams run by these criminals; they’ll impersonate charity workers, tax accounts or IRS agents, all with the intent of stealing your information and money. The IRS website contains many resources for spotting fraud and taking action to protect yourself. Here are some common scams you may see this season. 1. Promises of Outlandish Refunds You know how the saying: “If it sounds too good to be true, it probably is.” If you hear a refund amount that you can’t believe, you might want to start…

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Enter the TurboTax $25K Giveaway!

February 17th 2015 by
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This year, make sure your taxes are done right and get a chance to win big. Try any TurboTax® Online product for free and you’ll be entered into the TurboTax $25K Giveway.1 All you need to know is yourself. TurboTax translates taxes into simple questions about your life and puts everything in the right forms for you. You won’t miss a thing. TurboTax searches over 350 deductions and credits, so you can be confident you’re getting the biggest refund you deserve. Double checks as you go. TurboTax runs error checks and a final review of your return to help make…

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3 Reasons Your Refund Might Not Be As Big As You’re Expecting

Posted in Taxes
February 5th 2015 by
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Everyone tells you not to plan on having a tax refund. But if you’re living paycheck-to-paycheck, you might be counting on that money to give you the breathing space you need. Even if you’re a little further ahead than that, you may still have made plans for your tax refund. You might be planning to pay off a credit card from the holidays or put a down payment on a car. You might just want to take a little vacation over spring break! Whatever your plans for the money, it’s a good idea to temper your expectations. Unfortunately, you might…

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