Category Archives: Tax Preparation

What Not To Do On Your Taxes According to Experts

Being careful is import when completing your taxes and this year should make you a little bit nervous if you are preparing your taxes yourself. Even professionals are making a lot of mistakes according to the Government Accountability Office.

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In a study done in 2014, 10% of preparers did not calculate a normal tax return correctly. The final error rates for tax preparation according to the study was 50% for self-prepared returns and 60% for professionally prepared returns. Of course, the professionals more than likely handle the tough returns. Still, those are alarming numbers.

Some errors are obvious mistakes while … Read more at 2011 Taxes.

File Early With Free TurboTax Online

It definitely pays to file your taxes early, and according to the IRS about 14 million tax returns had been filed by the end of January, with just over 90 percent of thee filed electronically. These six reasons may help to convince you it’s a good idea to file early using free TurboTax online:

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The average refund last year was about $2,800 and almost 75 percent of tax filers received a refund and of course a tax refund can be used for whatever you need it for.

Filing taxes with TurboTax early means that the IRS can send your … Read more at 2011 Taxes.

Taxes 2014: What You Should Know To File

The tax filing season starts at the end of Jan. The IRS said that people can start filing their taxes 2014 returns on January 20.

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Despite a last minute tax law that was passed by Congress, the tax-filing season will still start on schedule, according to the IRS.

Congress passed a bill that extended more than 50 tax breaks, which were due to expire next year. Under the new law, the breaks will not expire anytime soon, which allows taxpayers to claim them when they go and file their taxes. The law was signed by the president on December … Read more at 2011 Taxes.

Create Your Post-College Budget In 6 Easy Steps

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Establish A Post-College Budget In Just 6 Steps

Congratulations on having earned your diploma and on having received a job offer. This time of life is guaranteed to be exciting.

As you begin planning your next moves, it is vital to have a budget. How do you create a post-college budget? Following are several things that I discovered after having graduated and started my first adult job.

Consider Your Monthly Income

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You might have an awesome starting salary, but you should not use this figure to write out your budget. Determine how much you’re going to … Read more at 2011 Taxes.

Tax Filing Tips For 2013 Taxes From TurboTax.com

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As the deadline for filing 2013 taxes approaches, beginners are faced with a much bigger challenge. Many of them do not know that there are fines and penalties for missing the deadline. That is because they have never filed tax returns in the past. Mistakes are more likely going to be made, but proper preparation can help to minimize errors. For instance, putting all your financial records for the previous tax year in one place may help.

When filing for the first time, it is important that you consider getting help from a tax preparer. Alternatively, you can use a … Read more at 2011 Taxes.

Tips on Doing Your Own Taxes In 2014

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If you would like to do your own taxes, you will be happy to know that the process is actually simpler than most people think. Paying tax accountants to prepare your taxes may not be the best option especially if your finances aren’t complicated. To do your own taxes, you will need three things; accurate records of your annual income, some basic knowledge of the country’s tax code, and adequate time to work on your returns. The following is a step-to-step guide on doing your own taxes. If you have any outstanding questions, make sure to post your question hereRead more at 2011 Taxes.

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