All Articles Tagged "tax preparation"
Your brain might be filled with turkeys, cranberry sauce, and Black Friday doorbusters, but don’t forget your taxes!
Black Enterprise reminds us that with the coming year-end, tax season arrives. So now’s the time to make preparations for your returns.
“Did you look for a job this year? If so, you can deduct travel expenses, continuing education expenses and resume prep. Even those copies made at Kinkos can be deducted if you keep the receipt,” the article says.
There are also lots of steps you can take to make a better overall impression with the IRS. For more about how you can get your numbers in order, click here.
The scariest thing about being audited is that it happens to the best of us. Not everyone who gets audited is trying to cheat on their taxes. Sometimes, they just guessed on certain things. Or put the wrong answer, thinking it was the right one. And then the IRS came knocking at their door. When preparing your taxes, take these things into consideration to minimize your risk of being audited.
(Inc.) — Turbotax Taxcaster: This well-designed Intuit app provides a rough estimate of your tax bill or rebate after you tap in details such as marital status, age, income, and deductions. The app, which is available for the iPhone, Android, and Windows Phone 7 platforms, also has a robust Help section. Cost: Free.
Capturengo: After you snap a photo of a receipt with your phone and hit Submit, Capturengo, available for iPhones and BlackBerrys, creates an IRS-approved digital receipt that you can access through an online account. You can organize receipts online and export data into Excel. Cost: Free for up to 50 receipts a month, then $99 a year.
(Businessweek) — The 2011 tax season is under way and the airwaves are full of a deal that sounds too good to be true: For another month, Americans can visit their local H&R Block (HRB) office and file their taxes for no charge. How and why would the nation’s largest tax filer give its service away for free? In a nutshell: 1) H&R Block is being forced to scramble harder this tax season to compete with other filing services. 2) It’s unable to offer a service that brought in customers in years past. 3) The “free taxes” offer isn’t for everyone.
(AOL) — Use the Web Wisely : Google the names of tax preparers in your area. But don’t stop there. Click on the tax preparer’s website and find out more about the tax preparer’s qualifications. Don’t be blinded by a fancy website — you’re looking for substance, not flash. Check to see whether the preparer has stayed up to date with the latest tax news; writing a tax blog or newsletter, being interviewed by the media for tax news stories and teaching or speaking engagements are good indications that the preparer is on top of the latest issues.
(The Loop 21) — Tight on money and looking for ways to find some quick cash? Don’t look to H&R Block’s popular tax refund anticipation loans. The federal government recently told the tax company to stop offering the loans — which come with hefty fees and interest rates. It’s unclear why the government singled out H&R. But in my opinion, it’s a good thing. Tax anticipation loans are as bad as payday loans. They usually target those who can least afford them, the low-income and those living from paycheck to paycheck.
(Wall Street Journal) — A top Senate Democrat said Friday he plans to introduce legislation seeking to repeal an unpopular small-business tax-reporting requirement that was introduced to help pay for the health-care law. Senate Finance Committee Chairman Max Baucus (D., Mont.) said he was acting in response to the concerns of small-business owners who have complained the requirement was a costly burden that served little or no purpose. ”I have heard small businesses loud and clear and I am responding to their concerns,” Mr. Baucus said.