Save With Tax Day Deals

With more than $330 billion in tax refunds being sent out by the Internal Revenue Service, many restaurants are trying to take advantage of this additional money in taxpayers‘ hands by offering discounts and freebies on April 18th. Here’s a summary of what you can find around the country in tax day deals.

The tax day deal at Boston Market gets a half-chicken meal for $10.40, priced in honor of the form taxpayers need to fill out. Regular price is $11.77. For the tax day deal at Outback Steakhouse, you need to go to their website and print out the 15 percent off coupon which will be good on April 18th.  You can also get the Outback coupon on their mobile app.

If you are looking for good beverage tax day deals, check out the BLT Prime in New York, Charlotte, Washington, D.C. Waikiki or White Plains, NY, or the Trump National Doral resort in Miami restaurants. On April 18th, drinks will be half price.

Tax Day Deals photo
Photo by dbking

You can get a free sandwich from Schlotzky’s. The tax day deal is getting a free small Original sandwich when you buy a bag of chips and a 32 oz. drink. Plus, fans will be awarded prizes if they upload a picture of their sandwich to Instagram or Twitter using #TaxDayBites as the hashtag.

Plenty of discounted burgers are part of the tax day deals. Stop in at a Hard Rock Café that is participating in the deal and sing some karaoke outside the restaurant. You must be 18 or over but those who participate get a free Legendary Burger that would otherwise cost $17.95. In Ohio, some locations in Cincinnati and Dayton are doing a buy a Quarter Pounder or Big Mac and get the second for 18 cents. In Toledo, the offer is only for Quarter Pounders. And Sonic Drive-in is offering a single-patty cheeseburger for half price.

Last Minute Tax Tips When Using Turbo Tax

Last Minute Tax Tips

Are you going to use Turbo Tax 2013 to file your taxes this year? Before you head to TurboTax.com, take a moment to read through these tips. With the deadline approaching, you need to know what to do at the last minute to make the filing process successful.

files
files (Photo credit: cali.org)

1. File the Paperwork Electronically

Did you know that Turbo Tax 2013 allows you to e-file your paperwork when you are done? This can save you a lot of time; it really only takes a few minutes. You will instantly submit your tax files so that you do not miss the deadline; you can even do this just hours before the cutoff time.

2. See if You Can Get an Extension

If you’ve been on TurboTax.com and you think you’re going to miss the deadline, you might want to file for an extension. The government will give you – if you are approved, of course – an addition six-month period to file your taxes. Wouldn’t you like to take care of them in October instead of April?

3. Know the Penalties

There are two main penalties that you can get if you use Turbo Tax 2013 or TurboTax.com and you do not get the tax documents in on time. The first is for failure to file, and the second is for failure to pay. Both could cost you up to an additional 25 percent of the total amount that you already owe. However, the IRS often gives extensions for people who have filed and not paid. You should at least get the paperwork in by the deadline, and you could end up avoiding both penalties, even if you don’t have the money to pay the taxes right now.

With these three tips and Turbo Tax 2013, you can reduce what you owe, avoid penalties, and make tax season a lot less stressful than it would be otherwise. The tools at TurboTax.com give you the power to file your taxes successfully without a Certified Public Accountant (CPA), so you’ll actually be able to keep all of the return that you get this year.

There’s an App for That: Taxes from Your Phone

We do pretty much everything from our phones these days, turns out, taxes are no different. Accountants and techies are combining forces as new ways develop for those who choose to file from their phone. From an easier way to track and report expenses to hand-held glossaries and customer service, exploring ways to file from your phone will change the way taxes get done.

Tracking Expenses

Deducting expenses is essential for businesses owners or the self-employed. Keeping track of those expenses however can be incredibly cumbersome. Travel, meals, supplies, and mileage really add up and the ability to immediately input related data and transfer that information to taxes can keep things clear and easy when the time comes to report.

  • iXpenseIt offers password protected expense tracking which can be programmed and stored in customizable categories.
  • ShoeBoxed integrates snap technology and expense reporting into one package. The app allows users to snap photos of receipts and upload them into an organizationally customizable online platform.
  • TripCubby provides the ability to track and record mileage and other travel data. The data collected can be exported into Excel using email or automatically added into deduction categories in the app itself.

Estimates

Mobile devices are especially handy for retrieving pertinent information for those who need an estimated income tax return but lack the actual W-2. Tax Caster by TurboTax doesn’t require exact figures to calculate return estimates which enable users to fulfill tax-based qualifications or anticipate amounts of returns without having to retrieve the actual tax information this includes more in-depth tax issues such as deductions related to family size, properties, alimony, and vehicles.

Much like expense reporting for businesses, keeping track of personal donations and other charitable activities is essential. A group of accountants created the iDonatedIt app which generates an itemized list of donated items, values and the date and location at which they were dropped off. Additionally, the app supports snapped photos of the donations which can be uploaded via email.

Questions and Support

Taxes can get confusing, particularly for those with more tax materials than the basic W-2. H&R Block has created the Tax Answers app which allows for a chat-based Q&A with their representatives. The app also provides FAQ categories and checklists as well as a handy glossary.

  • Internal Revenue Code (IRC) app by LawToGo.net is aimed at professionals or filers with complex returns and contains a searchable database of the various codes determined by the IRS.
  • TaxMama is an app which generates a costume tax calendar to suit various filing needs for those with different tax forms which carry different deadlines.
  • IRS2Go, produced by the IRS allows users to check the status of their filed tax return and refund while also providing information on pertinent updates.
  • MyTaxRefund by TurboTax can also track tax refund status, determine whether the return was accepted or rejected by the IRS and produce the expected date of refund arrival.

Filing

Phones have turned actual filing into a snap. Particularly with SnapTax which fills out the 1040EZ form using a snapped photo of a W-2. The information is filled automatically and can be filed after review. However, SnapTax is currently available only for Californian 1040EZ filers.

Katei Cranford is a freelance writer and tech lover who insists on filing taxes properly and helping others do the same.

Enhanced by Zemanta

Do I Need a Tax Consultant?

Do you need a tax consultant? Even if you’re educated enough to know about your state’s tax laws, they change quite frequently. It’s often in your best interest to learn how to find a tax consultant. Your best bet is to find someone qualified and up to date with the latest tax laws. The best way to find a tax consultant is when you need them the least. That means not waiting until tax season to find one. If you wait that long, chances are that all of the good ones will be taken by then. Instead, find one early on and book them in advance.

Did you know there are different kinds of tax consultants, all with their own specialties? That means that some work best with small businesses and some work best with contractors. To find the one that fits best with you, ask them who the majority of their clients are. They may not answer but if you’re polite enough, they just might. In addition, know what kind of assistance you will need in advance. If you own a business, a tax consultant can help you, but if you earn wages by being an employee, you may be able to do your taxes yourself. If you need to get help, a certified public accountant can prepare the necessary paperwork.

If possible, ask for references from friends, family, and other acquaintances. At first, you probably won’t know any certified tax consultants but if you know someone that has dealt with someone before, it may put you at ease knowing that they do good work. Only hire someone when you have interviewed several people, and if you have a gut feeling that you shouldn’t hire said person, it’s best to listen to what your gut tells you.

You may not necessary need a professional, but they have the possibility of helping you save time, effort, and money. If they are any good at their job, they will be able to help reduce your taxes or help with the finances of your business. However, be careful because it can be expensive and if you hire the wrong person, they can get you into trouble instead. Before making a decision, think about the long term advantages of hiring a professional.

Investing in Roth IRAs

The Roth IRA is considered by many people as one of the most popular and the greatest type of retirement plan. This type of retirement plan was named after its chief legislative sponsor, William Roth, a Delaware’s late Senator. Investing in Roth IRA makes the contributions not deductible by tax. Those withdrawals which are carried out during the retirement are commonly tax free upon certain provisions by the law considering that the contributions are exempted from tax deduction during the time that payments are being made.

There are surely some requirements in applying for a Roth IRA. You must make it sure firstly that you have the knowledge on all of the Roth IRA rules before you would open your Roth retirement plan. Presenting an earned taxable compensation makes you qualified for the income limits. The Internal Revenue Service, or an IRS, will only permit you to own a Roth IRA, if you are earning less than a particular Adjusted Gross Income, as a taxpayer, which depends entirely on the status of your filing. The rules and regulations that acquire in opening this account change every year. So, before pursuing to open your IRA account, it is the best idea to check on the rules and regulations with the IRS. In addition, you must determine that the money you will use in opening your Roth IRA account is not deductible by tax. This is because you are utilizing the money which is already taxed in your income.

Investing in Roth IRA provides a specific ruling on the procedures of its contributions. In every tax year, exact limits on the contributions that you could provide in your Roth IRA account. The limit of contributions in a particular Adjusted Gross Income will phase out until the time that they are generally excluded for contributors with high income. You will be able to contribute more that your usual limits when you have reached at the age of 50 years old and above. In this case, you are allowed to meet your income necessities. As compared to Traditional IRAs, Roth IRAs have no age limits. However, Roth IRA rates cover certain age limitations.