Tax Carnival Ecstasy – June 18, 2013

Welcome to the June 18, 2013 edition of Tax Carnival Ecstasy. In this edition we start with an article by Jason Hull on tax accountants for your business. John Schmoll has a great post on retirement planning and saving for college together. Bill Smith takes a look at the online sales tax proposals that have been made. And we have an article on fake charities popping up after the recent events in Boston and how to protect yourself. Hope you like all the articles, bookmark, share, tweet, and like on Facebook.

Bill Smith's gold medal
Bill Smith’s gold medal (Photo credit: Waikiki Natatorium)

filing

Jason Hull presents Tax Accounts for Your Business posted at Hull Financial Planning, saying, “Don’t forget that if you own a business which is treated as a partnership for tax purposes, you’ll be personally liable for the taxes at the end of the year!”

retirement

John Schmoll presents Retirement Planning and Saving For College: Can They Co-exist? posted at Frugal Rules, saying, “Retirement planning and saving for college are both items that take years to save for. While it may not always be easy to balance the two, it can be possible to do so without sacrificing the other.”

John Schmoll presents How to Invest in Stocks When You Do Not Know Where to Start posted at Frugal Rules, saying, “Investing in stocks, or anything in the market, can be overwhelming for many. The key to overcoming that fear is knowing where to start and educating yourself so that you can set up an investment portfolio that’ll help you grow your wealth and reach your long-term retirement goals.”

tax law

Bill Smith presents Implications Of Passing A Senate Bill Enacting An Online Sales Tax posted at 2011 Tax, saying, “Congress is currently moving forward with a Senate bill that could place sales taxes on buyers who place orders for items housed out of state.”

taxes

Bill Smith presents TaxCaster: The Mobile Tax Calculator For Taxpayers posted at 2009 Tax, saying, “Tax calculators are popular tools for consumers these days. Before filing one’s taxes, a person can take advantage of a calculator.”

Bill Smith presents After The Events In Boston And Texas, Charity Scams Are Common posted at 2009 Taxes, saying, “When you use TurboTax to file your taxes, you may notice that you can write off the money that you gave to charities.”

tips

Cherry Liu presents 30 Blogs Featuring the Most Reliable Tips for Estate Shoppers posted at House Sitting Jobs, saying, “Real estate laws, taxes and investment options constantly change to reflect the state of the economy, which is why the smartest investors know stay ahead of the game.”

That concludes this edition. Submit your blog article to the next edition of tax carnival ecstasy using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

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TurboTax Helps Users Get More Accurate Tax Returns

TurboTax Accurate Tax Returns

Each year, Americans are forced to go through last year’s financial information and prepare a tax return.  For some people, this is a happy time because they will be getting a tax refund, which can mean several thousand dollars in their bank account.  But for others, they will own more money to the Internal Revenue Service.

Day 093/365 - Tax Time Phat Cash!
Day 093/365 – Tax Time Phat Cash! (Photo credit: Great Beyond)

The Internal Revenue Service can not look at every single tax return because there are simply too many filed each year.  They do audit some returns, but it is only equal to one percent of all tax returns.  Most people will never have to worry about being audited by the IRS in their life time.  People cheat on their taxes to avoid paying more taxes each year or to try to get a bigger refund from the government.

The good news is that the majority of people do not cheat on their taxes.  Perhaps this peer pressure will deter other people from cheat on theirs.

Recently, the IRS Oversight board conducted a telephone survey that found that 87 percent of Americans felt that is is not acceptable to cheat on your taxes.  The main reason they were against cheating on taxes is due to personal integrity and not the possible punishment.  Just over 10 percent of people polled said it was acceptable to cheat a little bit on their taxes.

Some people cheat on their taxes without even realizing it.  They may omit important financial information or deduct something that should not be deducted.  These errors are not made intentionally, but they can mean big trouble if they get caught.

Using free Turbo Tax 2013 can help people prepare their taxes and increase the odds that their taxes will be accurate.

Sometimes an error or omission helps the individual by reducing the amount of tax they owe.  But sometimes it helps the government by raising their tax amount.  When this happens, you may not get as big of a refund as you normally would.

TurboTax is an easy to use program that many people use by themselves without hiring a tax professional.  It is less expensive than hiring a tax preparer, and you can use it at any time.

The computer program walks users through each step of preparing their taxes.  It asks questions and offers advice for every item that you need to enter, and it makes it easy for users to file their taxes.

Not only can free Turbo Tax 2013 help make your tax return more accurate, but it can also increase your refund.  Some people find they are eligible for more tax credits if they use a program to help them prepare their return.  When your tax return is accurate, you reduce the risk of an Internal Revenue Service audit.

Tax Carnival Ecstasy – February 7, 2013

Welcome to the February 7, 2013 edition of Tax Carnival Ecstasy. In this edition we start with a post on Xero by Rachel Frishe who examines why to switch to the bookkeeping software from a different option. Bill Smith has a couple of tax filing articles about the system you need to run TurboTax 2012 on your PC and a new service from Intuit to help small business find a CPA in their area call CPA Select. Finanly Basit has some tax planning tips for employees that receive a W2 tax form. Hope you find the information useful this tax season, bookmark, share, like on Facebook, tweet on Twitter and come back soon.

Bill & Don
Bill & Don (Photo credit: iluvcocacola)

Rachel Frishe presents » Why should I switch to Xero? posted at Virtual Techniques, saying, “Xero offers an efficient, collaborative environment for bookkeeping and account with robust reporting and excellent customization options.”

filing

Bill Smith presents TurboTax2012 System Requirements posted at 2013 Taxes, saying, “Filing Tax is one of the tedious tasks to accomplish. However, since a last few years, there has been a change in the process.”

Bill Smith presents Pros And Cons Of Filing Your Taxes With TurboTax posted at 2011 Taxes, saying, “Filing your taxes with TurboTax or another online tax program is something that people often loathe doing, therefore they try to procrastinate or push it off for later hoping that they would be excused and the year would pass by.”

Bill Smith presents Intuit Unveils TurboTax CPA Select posted at 2012 Taxes – Free Tax Filing Options, saying, “TurboTax CPA Select is designed to connect small and medium business owners who require someone to file their taxes with a CPA.”

Bill Smith presents Super Saturday In Ohio: Day Of Help For Filing Taxes posted at 2012 Taxes – Free Tax Filing Options, saying, “Super Saturday is a day of help in Ohio for residents in need of help filing taxes. Formerly known as the Franklin County EITC Coalition, the Tax Time Coalition of Central Ohio is ready with professionals in the tax business to help others in need of their services.”

retirement

John Schmoll presents How to Take the Emotion Out of Investing posted at Frugal Rules, saying, “The stock market is driven largely by emotion, some say upwards of 90%. If you have a solid investment plan though you can easily separate the emotions from the day to day activity of your investments.”

taxes

AYOUBBLIDI presents Tekenen en symptomen Mange Honden posted at Over Honden.

Bill Smith presents Tax Preparation Reviews posted at 2013 Taxes, saying, “Clients continue to use TurboTax every year as it is easy to use.”

basit presents Tax Planning for Salaried Employees- A Last Minute Guide posted at Fintotal.

That concludes this edition. Submit your blog article to the next edition of tax carnival ecstasy using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

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Arizona Tax Attorney Aims To Save Customers Money

Seal of the United States Internal Revenue Ser...
Seal of the United States Internal Revenue Service. The design is the same as the Treasury seal with an IRS inscription. (Photo credit: Wikipedia)

Tax payers often seek out tax lawyers so they don’t have to deal with the Internal Revenue Service alone. In turn, an Arizona tax attorney offer expert tax resolution services that often helps clients save money.

For instance, one satisfied customer said his Phoenix tax attorney offer detailed recommendations about how to deal with the IRS at a time when “we really needed help.”

The customer went on to explain how he relied on these tax lawyers experience to both resolve current tax bill issues; while also avoiding problems with the IRS in the future.

Reliable tax assistance

When it comes to the IRS and tax bills, many people hire a professional tax attorney to not only help them with their personal income tax and their business related taxes.

For example, one small business owner said he needed reliable and knowledgeable tax assistance because his business could not function under a cloud of IRS tax issues.

Thus, the business owner consulted with expert tax lawyers to sort out the back taxes that the IRS said he owed.

At the same time, people who hire these experienced and trustworthy tax experts for personal tax help say it really offered them peace of mind because they no longer have to worry about their IRS bills.

Money Saving Tax Filing Tips

Money Saving Tax Filing Tips

The IRS indicates that the average tax refund was around $3,000 last year, meaning that many of us are actually looking forward to filing our taxes.

The following tips can help you to save money during the upcoming tax season:

* Both TurboTax.com and the IRS website offer free tax filing to those who have an adjusted gross income of less than $57,000 per year.

* You can take advantage of all the deductions that you are allowed, by using tax filing software for your tax filing, and there is no need to pay one of those expensive tax filing franchises. The market leader is Turbotax, with expert advice available from CPAs and even support if you are audited.

Free tax preparation here!
Free tax preparation here! (Photo credit: Neighborhood Centers)

* Jeff Noll of Chicago is just one of thousands who has benefited from Turbotax. Noll points out that he has been confident he is getting every tax refund he is entitled to, and made the switch from a tax pro when learning that TurboTax included the advice of CPAs when needed.

Some tax software companies offer a generous discount to those in the military, and if you are military, you should take advantage of the Free File program offered by the IRS. Military filers often have specialized or unique tax filing requirements and you should look for a tax preparer or provider that can accommodate these.

You can even file your tax return directly from your mobile phone, if you use SnapTax, which lets you photograph your W2, and is just one of several low cost or free mobile apps that allow you to file and check on the status of your refund.

CPA Lisa Greene-Lewis also points out that you will receive your refund sooner if you e-file and choose direct deposit. Once the IRS accepts your return, you can potentially have your refund in as little as three weeks by doing that.

Free e-filing of your Federal tax return is offered by most online tax preparation websites; tax filing electronically also has the advantage of being more accurate.

Keep more of your money this tax season by following the above money saving tax tips.

Tax Credits For Your Home

2010 Tax Credits For Your Home

For those of you thinking of buying a new home but are not sure about the 2010 tax credits, maybe this will help you. If you are buying a home and your modified gross income is less than $245,000, the house costs less than $800,000, and you’re a first time home buyer, you can receive full credit. If your modified adjusted income is more than $125,000, you will receive a reduced credit. If your MAI is more than $245,000, you will receive no credit. Also, for those of you who are remodeling, you can also receive tax credits for your home.

2010 Guide To Home Buying Tax Credits