1. TurboTax Live – New for 2018 & Get $30 off

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    Intuit is adding another product to its portfolio called TurboTax Live (currently on sale for $30.00 off). It should appeal to the segment of taxpayers who are able and ready to prepare taxes on their own, but would like to have someone review it and even ask a specific tax questions...
  2. New Tax Rates, Same Number of Brackets

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    The recently enacted tax reform did bring lower tax brackets, but it didn’t bring promised simplification of them. In 2018 our income will still be split among seven brackets, but they are now smaller and are intended to reduce what we owe. Below is a table summarizing the new tax...
  3. IRS’s New Website, Now More User Friendly

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    In recent weeks IRS released an updated version of its website. It is the first time in many years that the agency made major aesthetic changes to the site. Quite frankly, it was overdue for a change. Less is more When you land on the IRS homepage, there appears to...
  4. Health Reform Takes Effect on January 1st, 2019

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    The recent Tax Cut and Reform Bill eliminated the requirement for individuals to have health insurance. That means that carrying insurance once again becomes optional and individuals will not be penalized for not being covered. There may be some unintentional consequences related to this new law because it takes effect...
  5. Filing for Tax Extension by April 18, 2017

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    With our tax returns due in just two days away – April 18th – You still have the option of filing for extension if you need more time to get your returns completed. Here is couple of reasons to consider filing for extension: – You don’t have all the information...
  6. You can still file your 2017 tax return for free

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    Updated April 15, 2017 – Did you know you can still file taxes for free? Filing taxes may only take your time, not money. Taxpayers who made $64,000 or less can use IRS Free File tax software to prepare their federal tax return. The software also includes free state return...
  7. Tax Deductions 2017 – Vehicle Registration Fees

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    When preparing tax returns, there are certain common deductions every tax software checks for. Those typically represent the biggest impact to your overall refund or tax liability, but in the end every dollar counts. Vehicle registration fee is another one of those less common deductions that can have a positive...
  8. How To Get Your AGI Number – Tax Tips 2017

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    In order to confirm your identity when filing taxes – efiling to be exact – the IRS uses your Adjusted Gross Income, or AGI from the tax return you filed in the prior year. There are few ways to get your AGI: – If you filed taxes using TurboTax last...
  9. Difference Between TurboTax Freedom Edition & Federal Free Edition 2017

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    When visiting TurboTax website you encounter two products with very similar names: Freedom Edition and Federal Free Edition. Despite similarity in their names there is a significant difference between the two. One is appropriate for taxpayers filing the simplest tax return regardless of amount of income earned – TurboTax Federal...
  10. What To Do With a Tax Refund?

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    This week the IRS will begin processing income taxes many of which will result in a refund. As reported by the IRS, last year the agency processed nearly 50 million individual income tax returns and 83% of them resulted in a refund. This year should not be a whole lot...