Tag Archives: Tax refund

Tax Breaks And Deductions For Your 2014 Tax Return

Unfortunately, filing taxes could prove more difficult for taxpayers this tax year. Individuals have to worry about the requirements set forth by the Affordable Care Act (ACA). And Taxpayers will receive less support from the IRS thanks to scaled back support by phone. Plus, the deadline is fast approaching at the moment. But don’t get too nervous.

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One thing to keep in mind is that sales tax is deductible in many cases, which is useful for residents of certain states. When a state doesn’t have an income tax, such a deduction can prove useful. Likewise, the same applies to states with lower income taxes. Congress thankfully extended this sales tax deduction in time for it to apply to a taxpayer’s 2014 tax return.

Insurance premiums from a mortgage are deductible for most Americans. For this deduction, taxpayers must meet two requirements. They must have taken the loan out since 2006, and they cannot earn more than $109,000 gross annually.

Anyone that’s 70.5 years-old or older can transfer up to $1000,00 from an IRA to a charity. In doing so, seniors get a major tax break. Taxes on Social Security are lowered. Seniors will even help themselves avoid the high-income surcharge through Medicare. If you have the extra to donate, you can get big help at this time from the IRS.

An extra 3.8% surcharge is placed on investments for high earners, and taxpayers should keep that in mind.

Of course, these tax breaks and deductions apply only to a 2014 tax return. Congress never made these deductions permanent, which means they require approval each year. The political landscape is always changing, so renewal is not guaranteed. See if you can take advantage while they are on the books.

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Canadians Can Chat With TurboTax Tax Experts

Intuit Canada is offering free online or over the phone chatting with Tax Experts in Canada. During the tax season, these TurboTax Canada tax experts are available 24 hours a day and 7 days a week.

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Beginning in February, Canadians can call or chat online with TurboTax tax experts. If you have questions about claiming business property deductions or medical expenses for small business employees, calling TurboTax Canada is a great idea at the right price, free. You don’t need an appointment just jump online.

Like many in America, we in Canada want the largest possible tax refund at filing time. Get professional advice and using great software helps to ensure you get every deduction. Once an additional fee, expert support is now available to anyone that has purchased the popular tax preparation software. The service starts when tax season begins and does not end until the tax deadline has pasted.

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Getting Your Taxes Done The Easy Way With TurboTax Canada

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When it comes to doing taxes, it can be a painstaking endeavor. So many people make it sound like it is something that you can easily get done in a few minutes that you may even be tempted to wait for the last minute to get started. There are an incredible amount of problems if you wait too long to do all the paperwork and turn it in. In fact, there can be so many complications, that you will find yourself lost amidst the shuffle of trying to put together a plan to fill out all the forms, and then get a refund. If you find yourself trying to placate an angry system, it’s time to ease the burden by getting TurboTax Canada.

Filling Out Forms The Smart Way

Let’s assume that you didn’t want to purchase software or get any help. You could definitely try to go at it the “manual” way. Getting information and writing it all down on the forms in pen, fixing the numbers, calculating the things you write off, and working on all the different forms can be done. However, if you make a mistake, or if you misinterpret what is being said, you could be in trouble. Every year millions of well-meaning people get in trouble over tax miscalculations and more. Why risk it? When you could fill out forms in a smarter, more concise fashion?

Peace of Mind

There is a certain amount of peace that will come over you when you are filling out the correct paperwork and you are gaining ground on this financial solution. Peace of mind will come through when you fill out your forms properly, file them, and get confirmation of your refund status. This is not only like lifting a big burden off your shoulders ,it’s going to pay off in the long term, because you will not have to worry about auditing or anything along those lines.

Streamlining The Process

If nothing else, you need to look at TurboTax Canada as a way to expedite the process of paying your taxes, or at least filling out the correct information overall. Taxes are not going anywhere, and you may be dreading trying to get them done and filed. However, with the easy to use options found through this software and website, you will end up streamlining everything to the necessary questions, and that’s it. Whether you’re a tax expert or not, you will be gaining leverage here and will definitely find the maximum deductions, and refund potential.

The worst thing that you can do is not fill out forms, or just wait for the government to knock on your door. There’s nothing worse than owing back taxes, and having to deal with garnishments, penalties and more.

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