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.

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.

Gay Marriage Makes Filing Federal Tax Returns A Labyrinth

Filing Federal Tax Returns

Filing Federal Tax Returns

There are many difficulties inherent in filing federal tax returns for same sex couples.  Even in states where gay marriage has been legalized, issues abound.  Because of DOMA (Defense of Marriage Act) even when a state legalizes gay marriage, it isn’t recognized on a federal level.  As a result, filing taxes jointly, like most married couples around the country do, is not possible for a same-sex couple.  Many same-sex couples go to tax agencies to make sense out of the complicated mess that their taxes have become.  These tax agencies often offer free federal tax filing and give couples a sense of surety that they are getting the most out of their tax return that they possibly can.

Since the legalization of gay marriage, many couples have tried to do their own taxes, because it is basically free federal tax filing.  Some have even succeeded.  Unfortunately, for many, it is too confusing to do properly and they end up getting shorted or worse, making mistakes that will cost them money later.  Filing jointly is not an option but head of household may be, as long as one partner makes more than half the cost of the household’s upkeep and has a “qualifying” person living with them (such as a child or elderly relative).  It only gets more complicated from there, as gay marriage defines more than 130,000 couples in the US, from all classes and economic backgrounds.

Free Tax Filing Information And Resources

Free Tax Filing Information

Most federal highway use tax returns are due, with the due date falling on the 31st Aug 2012. Now the use revenue collector, the IRS or internal revenue service is reminding owners of highway vehicles truckers regarding the need to file their taxes. Aug 31st is a deadline when forms such as the tax form 2290 will need to be filed with the IRS as well as payment of the relevant taxes for this particular financial year. This applies to those using the roads on or before July 2012. There is free tax filing information available to tax payers online.

This taxation feature applies to vehicles using the highways that have a gross weight of 55000 pounds or more. Such vehicles include tractors, trucks as well as buses and all others. Vehicles such as vans and pick ups do not fall into this category basically because they have tare weight that’s below 55000 pounds. The cost is usually $550 per vehicle depending on the weight of the vehicle. There are some rules that govern the administration of this tax feature.

Many tax payers are advised to submit their tax returns via the internet. There are electronic forms that need to be filled for this purpose even though the option of filing form 2290 still exists. Tax payers are advised of a public holiday weekend from August 31st to September 4st 2012. As such, they are advised to file their tax returns early. Free tax filing options can now be offered to interested tax payers.

5 Tips for Surviving an IRS Tax Audit

If you are chosen for an IRS tax audit, then there is nothing you can do to avoid it. The important thing is that you know what to expect, and that you keep one specific goal in mind: to end up owing the IRS as little money as possible. How do you do this? By complying, first of all, but also by doing everything you can to ensure you don’t trigger the IRS to investigate any items outside of the original causes for audit. Being audited can be a scary prospect; fortunately, there are things you can do to make it as smooth a process as possible, so as to protect your money and your sanity. Here are five tips for surviving an IRS tax audit.

Watch what you say. Do not provide any information other than exactly what was asked of you. Use yes and no answers any time possible. If you are not sure about something, tell you auditor you don’t know. Talking too much can cost you a lot of money. Giving false information, on the other hand, can cost you even more money, and possibly even jail time.

Organize your records. You aren’t expected to keep perfect records, but you are expected to have accurate and comprehensive records. Take your time preparing for your audit, and bring everything you have to support your story to the table. Showing up organized is a sign of respect, and a great way to get on the auditor’s good side from the get-go.

Act natural. This may seem like an oxymoron, but when you’re nervous (which you likely may be when dealing with an auditor), your mannerisms may betray you. Remember that auditors are trained to monitor behaviors for anything unusual, and the last thing you want to appear to be to an auditor is deceptive. Take a few deep breathes, relax, and just be yourself.

Keep your originals. The IRS is known for misplacing documents, and if your auditor loses anything pertinent to your case, you will have to produce it again. Provide only copies to auditors and keep your originals.

Seek professional help. Although it’s not necessary, you might want to consider enlisting the services of a professional tax preparer. Accountants understand the audit process and know how the IRS operates; therefore, having one on your side can improve your chances of surviving the audit with as little damage as possible.

No one wants to face an IRS audit. Unfortunately, many people do, any you might be one of them. Follow these tips to get through your audit and make the process as painless as possible.

About the Author: Jake Saechao is a full-time tax accountant who knows how stressful receiving an audit notice can be. At the end of a long day he enjoys sipping a cup of oolong tea, searching www.goldenmoontea.com for new blends, and simply trying to forget about the numbers running through his head.