Tax Guide 2013
1) SOFTWARE REVIEW!
TurboTax,H&R Block and TaxAct
A Taste Test for Three Flavors of Tax Software, By TIM GRAY
Based on the 2013 return for my wife and me, any of the three will work fine for a straightforward filing — consisting of, say, wages, interest and dividends, and common deductions like those for mortgage interest and charitable contributions. I also have to file the Internal Revenue Service’s Schedule C, because of freelance income, and all three handled that without problems…>FULL ARTICLE
2) HIRE THE RIGHT TAX PRO !
3 Steps to Hiring the Right Tax Pro, By Beth Braverman
Even with the advent of tax software and the relative ease of e-filing, most of us still prefer to get professional help when it comes to settling up with Uncle Sam..How Obamacare Could Affect Your Taxes This Year ?
A study last year by H&R Block found that one in five DIY filers could have owed less or gotten a higher refund, worth an average of $460 per person.
Even with the advent of tax software and the relative ease of e-filing, most of us still prefer to get professional help when it comes to settling up with Uncle Sam. An estimated 60 percent of tax filers turn to pros for guidance on their taxes, a percentage
4)Lost W-2! What to do?
Where Are My Tax Forms? When Your W-2, 1099, 1098 & Other Forms Aren’t In The Mail By, Kelly Phillips Erb
If you’re looking for your forms, you should have received your forms W-2 and most forms 1099 by January 31, 2014…. >FULL ARTICLE
5) Tax credits for all!
A primer on the most common tax credits for individuals, By Bill Bischoff
Ignoring tax credits is like tearing up a paycheck. Sadly, too many people do it. That’s unfortunate because each dollar of credit equals a dollar in tax savings. Deductions are much less exciting. Say you are in the 28% federal income tax bracket. Finding a buck’s worth of additional write-offs only saves you 28 cents…… >FULL ARTICLE
6) LEAVING MONEY ON THE TABLE !
Ten Ways You’re Probably Leaving Money on the Table, By Anna Prior
They’re simple. They can save a bundle of money. But lots of people just don’t use them……. ,Workplace Tax Break…>FULL ARTICLE
7) THE REFUND PROCESS !
The IRS, The Refund Process and That Pesky 1121 Code By, Kelly Phillips Erb,
….a number of taxpayers are having difficulty pinning down the status of their refund. Those experiencing delays are finding that they have a few things in common: The “Where’s My Refund?” tool originally showed an anticipated refund date of 2/6/14….> FULL ARTICLE
8) SMALL BIZ !
For Small Businesses, a Road without a Map, By CONRAD DE AENLLEFEB
Last year, owners of small businesses had to cope with higher tax rates. This year, they will wrestle with greater uncertainty about the fate of some deductions they have come to rely on…>FULL ARTICLE
9) HOME OFFICE DEDUCTIONS !
Home Office Deductions, By Stacy Johnson
…..to take care of business, there’s a potential deduction that can slash your tax bill: the home office deduction. According to the IRS, “In tax year 2010, the most recent year for which figures are available, nearly 3.4 million taxpayers claimed deductions for business use of a home.”…>FULL ARTICLE
10) YOUR INVESTMENTS !
Minimizing the Tax Drag on Your Investments, By CARLA FRIED
……if you invest in mutual funds, which are required to distribute realized gains and income to shareholders. Over the 10 years through 2012, the actual return to investors in the average stock mutual fund shrank by eight-tenths of a percentage point, annualized, because of taxable distributions, according to research from Lipper, the fund data supplier.That represents more than 10 percent of the…> FULL ARTICLE
Luck and success,
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