Tax Preparation

More in Tax Preparation

Is It Better to File Jointly or Separate When Making Over $100K?

People making over $100k a year are in higher tax brackets, which means that they generally have to pay a higher percentage of their income in taxes. If you're married, you have the option of filing jointly or separately, and there's no answer that works for everyone. Instead, ...

A Tax To-Do List

Many people dread the late winter and spring for one reason: it's tax season. The good news is that you can make your tax planning easier, less stressful and potentially less costly by doing a little advance homework. In addition to keeping your W2s in a safe place, avoid ...

How to Estimate the Income Tax for FAFSA Before Reporting Tax

Whether it's Feb. 15 or March 1, your school should have a priority filing deadline for the Free Application for Federal Student Aid. This deadline looms up to two months before taxes must be filed, yet the FAFSA asks for tax information. To accommodate this gap, applicants are ...

What Are Some Overlooked Income Tax Deductions for Teachers?

Teachers give so much to their students, in terms of time and attention, as well as genuine caring. Often they also contribute financially to the education of their students and to the betterment of their careers. In many cases, the Internal Revenue Service recognizes these ...

Covered vs. Noncovered Stock Transactions

A broker must report to you and the Internal Revenue Service all taxable sales of stock for the year, so that the IRS can assess capital gains taxes. Brokers report this information on IRS Form 1099-B, Proceeds From Broker and Barter Exchange Transactions. If the stock is ...

Can I File My Income Tax Electronically If I Owe From a Previous Year?

Each spring, the taxman comes knocking on your door asking for his share. If you owe on a previous year, it may muck up the waters of your financial portfolio. E-file is the quickest and easiest method of filing your tax return to the IRS. Even if you owe on a previous year, you ...

Can I Put My Unreimbursed Partner Business Expenses on Schedule A?

Where your unreimbursed partner business expenses are reported depends on the type of partner you are. If you are a member of a partnership who is paid as a legal partner and receives a K-1, you would report your expenses on the Schedule E form instead of on Schedule A. If you ...

How to Report a Forex Profit in TurboTax

If you've made money trading foreign currencies, then the IRS wants to know about it. TurboTax and other tax-preparation software make it fairly easy to track and report your gains, and your trading platform should provide the backup documentation, if needed. Keep in mind the ...

How to Claim a Roth IRA on a Federal Income Tax Return

When saving money for your retirement, there are several individual retirement account options that you can choose from. Some IRAs are tax-free while you contribute to them, though you will be expected to pay taxes on the money you receive from IRA distributions. If you have a ...

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