IRS Publication 17

IRS Publication 17 For 2013

If you want to do your own taxes, you need to understand the process. Fortunately, you do not need a degree in accounting to figure out how to do your own taxes. The best chance that you have to get through your taxes without making a mistake is to consult the document put out by the IRS for that purpose. IRS Publication 17 is a great guide for those working on their own taxes.

IRS Building
IRS Building (Photo credit: afagen)

IRS Publication 17 is still the most useful IRS publication for figuring out exactly how your income taxes work. The document breaks down the process of preparing your taxes into fairly easy steps, a real necessity for those who still prepare taxes by hand. The document is still useful for those who prepare online, though, as it does contain some basic information that most of the online services glass over. IRS publication 17 is easily the most valuable document that you can use if you are working on preparing your own taxes, and it is fortunately also a free document.

Pub 17 2013 can currently be found on the IRS’s website at . This document is likely to be updated when tax season gets a bit closer at hand, and revisions are likely if issues occur that changes the tax landscape. Remember that Pub 17 2013 is only a guide, and that more definitive information likely needs to come from a tax professional. If you are comfortable working on your own, though, this guide is your best tool.

Tips For Maximizing Your Return

With The Free Turbo Tax 2013 Software

When you use free Turbo Tax 2013, it is important to make sure that you maximize your return. The free TurboTax software makes this easier than it has ever been before since you will be asked a series of questions about your finances; these questions are much clearer than the labels on the tax documents, so you will really understand what you are being asked and what you need to say. The software will then plug your answers into the right boxes so that you have fully official tax documents with all of the right information in the right boxes.

English: To do to migrate to free software?
English: To do to migrate to free software? (Photo credit: Wikipedia)

Declare Your New Home
One of the best ways to increase your return if you just bought a new home is to list it as your primary residence with the free Turbo Tax 2013 software. You can then get the Homestead Deduction, which can save you hundreds on your state taxes. The free TurboTax program may also be able to help you determine if you deserve a Federal First Time Home Buyer Credit for the year, which can be applied to your Federal taxes, making your one home save you money twice.

Itemize Your Deductions
The free Turbo Tax 2013 software makes it very easy to make a list of your itemized deductions. You should always do this to check and see if the itemized deductions are going to be more than your standard deduction. By using the free TurboTax software to make the list, you can make a wise decision about which deduction will be larger.

Use the Correct Forms
One of the nicest things about the free Turbo Tax 2013 software is that it can help you check to see which form you are using when you enter information. This can make a huge difference. For example, a 1099-MISC form will not include taxes that have already been paid out, so you will be taxed on the totals. A W-2 form, though, will include those taxes that were already deducted, so you may get money back. Use the free TurboTax software to select the type of form that you have so that you do not pay your taxes twice. This way, you actually get all of the money that is owed to you.

Erase the Fees
Finally, the free Turbo Tax 2013 software helps you maximize your return simply because you do not have to pay any fees to a CPA. You can do everything yourself, even if you have never studied accounting or tax law. The free TurboTax software is very easy to use, even for those who are doing their taxes for the first time. By erasing the extra fees, you get to keep all of your return.

Strange But Legitimate Tax Deductions from TurboTax.com

Strange But Legitimate Tax Deductions from TurboTax.com

Tax season is anticipated by some and dreaded by others. For accountants and tax professionals, however, it can be a time of amusement. Tax professionals are used to helping people get the maximum deductions on their taxes, but there are some deductions that take the cake. TurboTax professionals often highlight the odd, but legitimate, tax deductions that they see every year.

A boy in a children's swimming pool.
A boy in a children’s swimming pool. (Photo credit: Wikipedia)

Fido’s New Pad Can Pad Your Refund

Did you know that you can claim a deduction for moving expenses for your pet? If you are relocating for a new job, you can deduct the cost of your moving expenses, including extra expenses incurred to move your pet.

Swimming in Cash

Many people think of swimming pools as expensive investments that drain money from your bank account. If you, however, have a medical condition that is relieved through swimming, you may be able to deduct the cost of maintaining your pool as a medical expense.

Lose Weight, Gain Money

If your doctor has recommended weight loss as a means to improve your health, you may be able to deduct the cost of medical weight loss treatments.

Your “Enlargement” Can Result in a Refund Enlargement

An exotic dancer was able to claim breast enlargement surgery as a business expense. She argued that enhancing her appearance allowed her to earn more money in her business.

Tax professionals see it all between January and April. When you are ready to file your taxes, the professionals at TurboTax.com can help you to get every deduction and the maximum refund on your taxes.

Electronic Version Of Pub 17: Getting Cozy With The IRS

Electronic Version Of Pub 17

The electronic version of pub 17 is in PDF format. It contains valuable information about filing your federal tax return. The precise link from which to download the PDF is http://www.irs.gov/pub/irs-pdf/p17.pdf. The easiest way to work with it is to save the document on your computer hard drive. That way, you won’t need Internet access if you have to refer to the file again in the future.

Seal of the United States Internal Revenue Ser...
Seal of the United States Internal Revenue Service. The design is the same as the Treasury seal with an IRS inscription. (Photo credit: Wikipedia)

Most likely, you’ll need to look into it more than once, especially at crunch time, when the tax deadline is near. If you have enough time, you may want to familiarize yourself with the document so you know everything important. Doing this will help you compute your federal tax return accurately and avoid mistakes that can cost you come tax assessment time.

Be careful out there, you can fall prey to a joke complicated tax return if you end up in a phishing site. To avoid this from happening, look closely at the URL to make sure that you are going to the authentic IRS website. Becoming a victim of a joke complicated tax return can make the process of filing your income tax difficult when it should be rather easy and straightforward.

The best way to really learn to do it is to do it by hand, that is, without depending on tax software that automate the process of computing your taxes. The idea is simple, you just need to ascertain your true income, declare your deductions and claim you tax credits.

Tax Amnesty Gives Kettering Ohio Six Figures

Thanks to a new tax amnesty program, Kettering Ohio has brought in more than $163,000 in the first five weeks since the program was kicked off. This program has allowed eighty-nine people to pay their income taxes and interest without having to pay tax penalties that would normally apply. This program will continue running until December 14.

By using this program, the tax payers did not have to pay $53,000 in penalties. These penalties have been waived by the city. This program was started before a mandatory tax filing of 2012 returns, which must be filed by April 15, 2013.

High Street in Kettering in Northamptonshire, UK.
High Street in Kettering in Northamptonshire, UK. (Photo credit: Wikipedia)

Although many residents will not owe any money, anyone 18 or older must file their taxes this coming tax season.

Officials think that a lot of people will still come in and take advantage of this program. Even those people that owe money from as far back as six years ago will be eligible along with businesses that need to pay their taxes. This program also works with businesses that are not withholding employees’ taxes.

The finance director of Kettering, Nancy Gregory, stated that everyone was happy with the way this program was working out. The majority of the people that have worked with this program have been very grateful for the opportunity to avoid the tax penalties.

Kettering is working hard to help people make these tax payments and be completely up-to-date when mandatory filing begins.

Gregory explained that while many people know what they were supposed to be paying taxes, there were still many people that did not understand all the regulations. A few people did not owe money before 2007 when Kettering increased the tax rate for income taxes from two to 2.25 percent. These people just need to pay the difference.

In different instances, people would come to pay their tax obligations and they found out that they did not owe anything after they completed their returns.

Gregory said that as of right now no businesses have come forward, but that there were some that should. After this program is over, everyone in violation will need to pay penalties. Gregory warned that there would be a huge push for enforcement after the 2012 deadline.

There have been two new auditors hired for the tax division as there could be a doubling of accounts when the mandatory filing begins in 2013. Gregory thinks that it will not mean double the money coming in, but there will be many more documents coming in.

Although no one really loves paying taxes, Kettering tries to make the process of filing taxes better. Many people are glad to do it and do not feel bad about that. Gregory wants people to bring in their documents and the city will complete individuals returns for free. What could be better?

Tips to Get TurboTax Discounts

Tips to Get TurboTax Discounts

Turbotax software comes in various different versions like Premier, Deluxe, etc. Turbo tax software is used to prepare both State & Federal Income Tax Returns. One of the best things about the software is that it is regularly updated once the IRS completes any revisions to the tax forms. This software is widely used because of its user-friendly interface and its step by step assistance to the tax payers.

Most of the people today are using Turbo tax so that they can prepare their taxes on their own. It’s very popular because it allows payers to easily enter the required information and calculate the amount of the tax that you are required to pay. Turbo tax also helps in reporting the investments in bonds and stocks. It also helps in setting up the information about properties like rental properties or any other. It helps in maximizing your deductions as it helps in determining what items can be used for deductions.

To get Turbo tax discounts, you will have to buy it at a website that offers a discount. The website must also offer various versions of Turbo tax so that you can choose the best one for you. Simply getting one version on the website won’t be useful for you. The site must offer return shipping as well. To such sites that will offer discounts you need to search them online, type in the keyword phrase in the search engine and look for different websites that sell Turbo tax at a discount and select the website where you can buy turbo tax.

Getting Turbo tax discounts takes efforts as well as time. Searching for Turbo tax discounts can be daunting task but once you get it filing tax return becomes much easier and faster.