Are you aware that there are a few different kinds of IRS form 1040 and instructions? It’s best to know which income tax form suits with your specific circumstance and lets you declare the earnings, deductions, credits, etc. that relate to you.
The Most Common 1040 Forms and Instructions:
- IRS Tax Form 1040 (Individual Income
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An increasing number of people are turning to TurboTax to get their income tax prepared and filed every year. They take all the hard work and stress out of tax form preparation and will always get you the largest refund.
As you go through the process of importing income and expense information into
the TurboTax … Read the rest
Medical expenses can damage your budget tremendously, especially when the emergency is unexpected and your insurance does not cover it. The good news is the IRS does allow you to have some relief from medical expenses with a medical deduction for 2016.
However, to take advantage of their leniency you have to know what is … Read the rest
Get ready for the 2017 tax season by knowing what home improvements you can make to qualify for energy tax credits. Home improvements are more affordable and beneficial for you if you go with ones that fall under the Non-business energy property credit and the residential energy efficient property credit. So, let’s jump in and … Read the rest
Getting a tax credit is almost as good as not having any taxes to pay at all. Tax credits allow you to deduct sums of money from your taxes. This is better than getting a deduction because it not only reduces your taxable income. For example, those in the 28% tax bracket would save $280 … Read the rest