It’s no wonder that more and more Americans are turning to 1040 tax software. It’s easy, well-formatted for even the beginner, and it’s fast. More people are recognizing that 1040 tax software is a valuable and essential tool for tax season. That said, tax software needs to be used responsibly.
Archive for November, 2010
When you e-file tax returns, you want to get as much back as you can.
Knowing what to deduct is an important part of that. Kiplinger.com has a fairly comprehensive overview of savings ideas in their Kiplinger Taxopedia by Kevin McCormally. They list several deductions that will help save you big when you go to e-file tax returns, and we’ll be looking at some of the less known deductions in this article.
With 2011 quickly approaching, everyone is wondering what awaits when they e-file. In Forbes’ November 18th article by Ashlea Ebeling, a hard look is taken at the 2011 rates you’ll find when you e-file state taxes.
As the end of the year is in sight, we are already starting to think about when we file tax return for next year. Around this time of year we start seeing the Christmas decorations, thinking about New Year’s resolutions, and planning financially for the time to file tax returns.
We are hearing a lot in the news about the AMT Tax. Who does the AMT tax affect? How do we know if we are liable to pay it?
Multiple articles in various newspapers and money magazines have been explaining the tax. Forty-one years ago, the tax started out targeting 155 extremely rich tax payers who had figured out how to wiggle out of taxes. However, because the AMT tax is not always adjusted with inflation, more and more middle class citizens are required to pay it.
Mary Beth Franklin, the senior editor of Kiplinger’s Personal Finance takes a look at the 1040EZ vs. the 1040A and Form 1040. With so many forms and paperwork to keep track of, it’s important to know you’re filling out the right form for your financial situation.
The right form will not only help you to fill out the correct information, but it will also help you get all the tax breaks and credits that you can. So which forms are best for which people?