Tag Archives: Income tax

TurboTax Introduces TurboTax Deluxe

Intuit has played around a bit more with TurboTax 2014, and has done things such as making fonts and graphics bigger. The TurboTax support page has also been replaced, with what is known as the TurboTax AnswerXchange.

TaxAct

Users returning will find that their 2014 taxes are easier to do because the data that has moved over, and there is even a personal guide to the Affordable Care Act.

TurboTax 2014 Introduces TurboTax Deluxe

TurboTax Chat Community Overloaded On Tax Day (Photo credit: John Swords)

An Easy Walk-Through
The software searches through more than 350 deductions and credits, which can help you claim everything that is allowed according to the tax code set forth by the IRS.

TurboTax Deluxe, as well as its competitors take your information, which you provide, and then it does the required deductions. It also drops your answers into the correct fields on IRS schedules and forms. All of this goes on in the background, and all you need to do is click buttons in order to move forward and back.

Navigation That Is Top-Notch
The navigation is top-notch, and you will find that navigating TurboTax Deluxe is easy. Your federal review is divided up into three sections, with the first two being Wages & Income and Deductions and Credits. The third section is Other Tax Situations. You will find that navigating through each section is a breeze.

You will also be pleased to know that there are other ways that you can navigate the site. You will notice that four links opens when you click on the tools icon, which is located to the left side. You will be able to look for a topic in a list that is very lengthy, or you can arrange the list in alphabetical order. All you need to do is click on the topic of your choice. Once you have done this, you will be taken to that screen. Another thing you can do is create a flag for a specific page, and this will remind you that you need to go back to the page and fill some information in. The fourth link that is available for you to click on displays all of your fees.

TurboTax Deluxe allows you to move forward and backwards, which is something that H&R Block Deluxe does not allow you to do. Their software requires you to finish a screen before you can move on to the next screen. Once you think you have entered everything that you were required to enter, TurboTax, as well as its competitors, will review your return, and if there were any errors or omissions that you have made, then you will know about it, but they will be revealed one at a time. TurboTax Deluxe only shows you the relevant portion of an schedule or form, and then you will be provided with a field where you can input your answer.

Connecting With Tax Experts Via Video Conference

Tax preparation help at the library

Tax preparation help at the library (Photo credit: Newton Free Library)

Filing your income taxes is one of those necessary evils that nobody looks forward to. It’s a time consuming, highly detailed process that typically requires several hours of your attention. Luckily, in today’s digital world, filing your taxes doesn’t have to be such a headache. Thanks to advances in technology, you can now work with an accountant to file your taxes from the comfort of your own home. There are a couple of different options for electronic filing that help you to save time and money when you’re doing your income taxes.

Virtual accounting

Let’s face it: we’re all busy and sometimes we just don’t have the time to sit through an hours-long appointment with a tax preparer. When you add in the time spent commuting across town and finding parking, in-person meetings can really start to add up. A number of firms out there that now offer virtual income tax preparation. Some even provide online drop off service, so that you can simply send all of your tax documents in electronically without ever setting foot in a physical office. Nothing is more convenient than that.

You can either choose to work with a large tax preparation service like H&R Block, or an accountant in your area that offers virtual tax preparation services. It’s simply a personal choice based on your comfort level and preferences. Either route you choose, it’s likely you will need to have some face time with your accountant. This can be done in a few different ways. The most common way to connect is through video conferencing that’s done via the web. Some accountants will also connect with you over the phone or through a chat feature that is offered on their website.

Scheduling time to talk via video conference, phone, or live chat ensures that your taxes will be prepared according to your needs and preferences. Generally, filing your income taxes virtually requires a simple conversation at the beginning of the process in order to hammer out necessary details before your accountant gets down to the nitty-gritty of doing your taxes. You then converse by email or phone if there are questions during the process or after the return has been prepared.

Tax preparation software

An estimated 81% of people in the United States filed their taxes electronically last year. While virtual accountants are starting to become more prevalent, it’s likely that the bulk of these individuals used tax preparation services to simplify the filing process. Tax preparation software has seen a surge in popularity over the past decade, with the development of popular programs like TurboTax by Intuit which allow you to complete the filing process online from start to finish.

The program’s popularity is largely attributed to its convenience. TurboTax provides an inexpensive, easy to follow, and convenient solution for filing your income taxes. You can simply download the software or purchase it at a nearby store, run it on your computer and begin entering information from your W-2s and other tax forms. It simplifies the deduction process by taking you step by step through common (and uncommon) tax deductions. Generally, the software helps to maximize your return because it covers all the bases with tax deductions.

If you don’t finish doing your taxes on TurboTax in one sitting, you can always come back to them. The program saves your progress online or on your computer, so you can simply pick up where you left off. Once you’ve completed your tax returns, you can file with the click of a button and opt to receive your refund electronically, or via paper check in the mail. You can also pay your taxes electronically if you end up owing money. It’s a highly convenient solution with little margin for error, and a great choice if you are not particularly confident in your skills when you’re filing taxes on paper.

Thanks to today’s technology, there are a few great ways to minimize the hassle of filing your income taxes, including Intercall’s virtual events and other tech options. If you would like to explore a more convenient solution for filing, look into options for virtual accounting or consider purchasing tax preparation software to simplify the process. Tax software will save you a lot of time and potential frustration!

Canadian Income Tax Filing Made Easy

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Canadian Income Tax Filing Made Easy

In recent years, the Canada Revenue Agency (CRA) has been expanding the methods available for you to file your income taxes. As the digital revolution continues, the agency has focused much of its energy on developing online filing methods. However, traditional means are still available to facilitate your Canada income tax filing.

Online

Accountants' Office

Accountants’ Office (Photo credit: RobW_)

The CRA has established NETFILE as an online option for filing your Canadian tax return. The CRA has certified the commercial software and the Web application of the program. Also, there exists a number of free software applications for use with NETFILE.

Digital Service Provider

You may employ a service provider to submit your taxes online with the EFILE program to prepare you return. After completing your return, take your forms to a digital service provider to file online for free. This digital platform traditionally results in your return being processed quickly.

Mail

Regardless of the nature of your return, every tax filer in Canada has the option of submitting his or her return by post. Simply complete the required forms, and place them in the mail for the cost of a stamp.

Professional Accountant

If your taxes are complex, if you own a business, or you just don’t feel confident about completing your income tax returns on your own, you may hire an accountant to prepare your taxes.

Whether you are a small business owner who doesn’t have the time to complete your returns or you like the convenience of the Internet, there is an option for you to successfully file your Canadian tax return.

Gear Up To File Your Canadian Income Tax

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Gear Up To File Your Canadian Income Tax

There are several fundamental principles that need to be considered while filing for Canada’s income tax. Does your Canadian income tax package contains complete information and all the relevant documents that are required to file for income taxes in Canada? Significantly, the tax payee must keep in mind the deadlines for filing a Canadian tax return. In case, if you are obliged to pay taxes on your income and you file a Canadian tax return after the deadline then you will be penalized as per the Canada Revenue Agency rules.

English: Northwest corner of the Connaught Bui...

English: Northwest corner of the Connaught Building located at 525 MacKenzie Avenue in Ottawa, Canada. The building is now the headquarters of the Canada Revenue Agency. Français : L’angle nord-ouest du Connaught Building, situé au 525 MacKenzie Avenue à Ottawa, Canada. Le bâtiment est le siège de la Canada Revenue Agency. (Photo credit: Wikipedia)

Points to be considered while filing your Canadian tax return

• You must provide your Social Insurance Number when you file  your Canadian tax.
• You must provide your tax information slips to give the information to the Canada Revenue Agency about your earnings and the amount of deducted tax.
• Also you must have tax deduction receipts to provide relevant information about the tax deducted from your income.

These are the key points that will help you to file a Canadian tax return with no shortcomings.

Moreover you can file your Canada income tax online. Though the Canadian income tax filing procedure via phone has been ceased, you can still file your taxes via mail or by employing someone. Besides, if you file online then you have the option to make alterations too. If you owe your taxes to the CRA then it is advisable as well as crucial to arrive at a tax services office as soon as possible for better assistance.

Getting Your Taxes Done with TurboTax Canada

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Getting Your Taxes Done with TurboTax Canada

TurboTax Canada is the software that every person should take advantage of when it comes time to sit down and do your taxes. Paying a professional can be very costly, you may be throwing money away. Also, taking this approach would mean having to rely on someone else to find the tax savings that are available to you.

saving and spending

saving and spending (Photo credit: 401(K) 2013)

When you are able to take control of the filing process, it would be much easier to find any potential savings that may be available to you. Even if you have a limited understanding when it comes to income tax Canada filing, you would find that this software does all of the work for you. The TurboTax approach is based on the understanding that not everyone is a tax expert, it is built to guide you through the process step by step. When you turn to this software to get your taxes down, you would find that you are able to file without having to feel extremely stressed about getting through the process.

When you choose TurboTax Canada to file your taxes, you would be able to keep more of the money that already belongs to you. Spending all of your money to have someone else do your taxes may seem like it would get you the most savings. However, income tax Canada filing on your on would likely be the easiest way to ensure that you are not missing out on savings that are available to you.

Tax season can be very stressful when you do not know where to turn. If confusion is a feeling that you are having when it comes to your taxes, you are going to find the guidance of this software to be very helpful. In no time at all, you can complete your taxes and get back to enjoying your day.

Filing Taxes with TurboTax Canada

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Filing Taxes In Canada with TurboTax

TurboTax Canada is designed to make filling less of a challenge no matter who you may be. Taxes are typically something that people put off for as long as possible because they do not have the right tools available when it comes to getting the job done quickly. However, this software allows you to complete your taxes in a matter of just a few minutes.

English: Postcard (postmarked 1907) depicting ...

English: Postcard (postmarked 1907) depicting John Bull and Uncle Sam under sign “To Canada” bringing in sacks of money “for investment in Canada” (Photo credit: Wikipedia)

Any person that has ever wished for guidance when it comes to their income taxes in Canada should see what this software has to offer. Since it is built around the understanding that you are entering the filing process without any prior knowledge, it is very easy to get adjusted to without having a professional walk you through. Not everyone has the money needed to go pay someone to put their taxes together, this should not make your life more difficult.

When you file with TurboTax Canada, you do not have to spend your money in order to pay someone for a service you can complete on your own. Having peace of mind when it comes to the fact that your taxes are done correctly is also not something you would be able to rely on when taking them to someone else. Completing your income tax  return in Canada online is a simple way to make your life a lot easier.

Since this software is designed in steps that are easy to understand, you do not have to worry about getting lost. If saving money on your taxes is something you are thinking about, you need the best software on the market today. TurboTax can help you to find more deductions, this means more of your hard earned money stays where it belongs. Make your life a lot easier through turning to this software to complete your taxes quickly and without headaches.