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Save Yourself Money by Taking Advantage of TaxACT

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Save Yourself Money by Taking Advantage of TaxACT

TaxACT is a great tax service that you should take advantage of. It does not require any download or purchase, simply sign in and answer some questions to have your taxes done for you. Not only will this save you the $30-$100 most tax companies will charge you, but TaxACT also uses the best up to date programs to ensure that you will get the largest refund possible.

Saving yourself the unnecessary fees other companies charged would not be worth the investment if the service you receive is not the best … Read more at 2009 Tax.

Turbo Tax for the Self-Employed

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Everyone knows that they have to pay taxes. For people in the US this includes federal, state, Medicare and Social Security. It may also include other things such as local taxes depending on where they live. A person that works for someone else will see a certain percentage automatically removed from their paycheck to cover these taxes. A self-employed person has to take care of these taxes themselves. Utilizing a program such as TurboTax can make this task much easier for anyone.

Social Security and Medicare taxes together equal to 15.3% of a person’s yearly income. When a person works … Read more at 2009 Tax.

Unemployment Benefits Receive a Special Tax Break

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Unemployment Benefits Receive a Special Tax Break

Thanks to the American Recovery and Reinvestment Act of 2009, unemployment benefits received during last year are eligible for a special tax break. This includes state unemployment benefits, railroad unemployment compensation, and benefits from the District of Columbia.

The first $2,400 you received for unemployment benefits during 2009 are now tax free. All other benefits are taxed normally, the way unemployment benefits were taxed in the past. This could save you $480 in taxes if your tax rates is 20%.

Take a look at the 1099-G when it arrives in your mail to … Read more at 2009 Tax.

Oh No! I Am Missing My W2

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Oh No! I Am Missing My W2

Employers have until the 1st of February every year to send you a W-2, wage and tax statement. When you start to prepare your tax return and you have all of your documents except for one W-2, there are some steps you can take to complete your tax filing for the year.

The first step to take is to contact the employer to find out if they mailed a copy to you. If they did, you should request a new copy of the W-2 be sent to your correct mailing address. Allow some … Read more at 2009 Tax.

New Vehicle Sales Tax Deduction

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New Vehicle Sales Tax Deduction

If you purchased a new automobile in 2009 you can possibly deduct the sales and excise tax you paid during the purchase. There are a number of different things to consider when determining if your taxes are deductible. State and local taxes are deductible up to $49,500, this is a very nice place to begin.

There is a limit on the weight of your new car, truck, or motorcycle, 8,500 pounds. And purchases must have taken place between the 19th of February 2009 and the end of the year. Some special exceptions are available if … Read more at 2009 Tax.

Wise Ideas about Taxes

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Wise Ideas about Taxes

Many people normally like to skip filing tax returns and they ignore paying taxes. No wonder that it is quite a tedious process and might take people from days to weeks to complete the process. Some of the people even need to pay interest to the IRS. But this mistake is intentional on the part of anybody. It’s only a lack of proper tax preparation. In majority of the cases, these people rush at the final moment to file their returns. The most common reasons of why people get noticed by the IRS are lack of … Read more at 2009 Tax.