Blog Profile / About.com Tax Planning: U.S.


URL :http://taxes.about.com/
Filed Under:Business & Finance / Taxes
Posts on Regator:355
Posts / Week:1
Archived Since:March 8, 2011

Blog Post Archive

Excel1040: Spreadsheet-based Tax Software

Ever wish you could just do your taxes in Excel? Well, thanks to Glenn Reeves, you can. Gleen Reeves created Excel spreadsheets to prepare Form 1040 and related schedules. For the year 2013, Reeves offers a full 1040 version (in the.xlsx format) that supports schedules A, B, C, D, E, and SE, and supporting forms 6251, 8949, 8959, and 8960. Show More Summary

How to Adjust Withholding

This is an attempt to describe the steps we go through to adjust a person's withholding in the middle of the year. What to gather beforehand: Recent paystub Previous year's tax return Form W-4 (pdf) printed out Publication 505 (pdf), with Worksheets 1-5 and 1-6 printed out Pencil Calculator Either scratch paper or spreadsheet (to do any calculations) ... Read Full Post

Foreign Bank Accounts due June 30th

Americans may need to file a foreign bank account report with the Treasury Department. This report (called FinCEN Form 114) is required if a person or business or other entity owns, has a financial interest in, or signature authority...Show More Summary

IRS.gov's Direct Pay

A new way to pay the IRS directly The Internal Revenue Service has launched a feature on their website called "Direct Pay." Direct Pay enables individuals to pay taxes relating to Form 1040 directly to the IRS.... Read Full Post

Received Form 5498 in the Mail?

Form 5498 is one of those tax forms that arrives, usually, in late May. This form reports contributions made to individual retirement accounts and health savings accounts. Why May? So financial institutions can include on the form any contributions made by April 15th for the previous calendar year. Show More Summary

Small Business Deductions

Businesses can deduct a wide variety of expenses, such advertising and rent. The general rule is that to be deductible, an expense must be both ordinary and necessary. Here's a list of the most common business expenses.... Read Full Post

Tips for Starting a Business

Thinking of starting a business? Before starting a business, it's good idea to first know how to run a business. Jean Murray outlines the topics you'll need to grapple with to make sure your business venture gets started on the right foot in her article, What Do I Need to Know to Run a Business?... Read Full Post

Tax Reform Act of 2014, Part 7, IRS Administrative Proposals Impacting Individuals

The Tax Reform Act of 2014, put forward by Dave Camp and others, proposes 25 changes to how the IRS administers the tax laws. In the seventh and final installment of our series, we take a look at the 13 administrative proposals that would impact individual taxpayers.... Read Full Post

Tax Reform Act of 2014, Part 6, Retirement Plans

House Ways and Means Committee Chairperson Dave Camp released draft legislation, the Tax Reform Act of 2014, proposing a wide variety of changes to America's tax system. In part 6 of a series, we look at proposals for changing retirement plans.... Read Full Post

Obamas, Bidens Release 2013 Tax Returns

President Obama and Vice President Biden released their tax returns for the year 2013 to the public on April 11, 2014. The tax returns are available to download on the White House blog as PDF files.... Read Full Post

Tax Reform Act of 2014, Part 5, Employee Benefits

House Ways and Means Committee Chairperson Dave Camp released draft legislation, the Tax Reform Act of 2014, proposing a wide variety of changes to America's tax system. In part 5 of a series, we look at proposals for changing employee benefits.... Read Full Post

What To Do if You Missed the Tax Deadline

Filing a tax return after the April 15th deadline typically isn't any different than the normal procedures. Be sure you have all your tax-related documents for income and deductions, prepare your tax returns, review the return for completeness and accuracy, and file the tax return with the IRS. Show More Summary

Tax Day

Today, April 15th, 2014, is the day that tax returns are due to the IRS. You either need to file your tax return or file an extension. I recommend filing an extension. An extension is a formal request for additional time to file a tax return. The IRS automatically grants extensions, as long as you file Form 4868 to ask for one.... Read Full Post

Where to Mail Tax Returns, Tax Payments and Extensions to the IRS

The Internal Revenue Service has different addresses for different types of documents being mailed. Here's links to pages on the IRS.gov Web site with the relevant mailing addresses: Addresses for sending in a tax return and extension forms (Form 1040 and related tax forms, and Form 4868) ... Read Full Post

Reminder: IRA Contributions Due by April 15th

If you're planning on contributing to an individual retirement account (IRA), be aware that the deadline for making contributions for tax year 2013 is April 15, 2014. People can contribute up to $5,500 to a Traditional IRA or Roth IRA or some combination of the two. Show More Summary

Six Things to Do Before April 15th

Feeling cramped for time? Prioritize on what needs to get done by April 15th. 1. Prepare your tax return, just enough to figure out if you owe and how much. Tax preparation software can help you draft out your tax return.... Read Full Post

Tax Reform Act of 2014, Part 4, Tax Credits

House Ways and Means Committee Chairperson Dave Camp released draft legislation, the Tax Reform Act of 2014, proposing a wide variety of changes to America's tax system. In part 4 of a series, we look at proposals for changing personal tax credits.... Read Full Post

Tax Freedom Day 2014

Mark your calendars, April 21, 2014, is this year's Tax Freedom Day®. Every year, the Tax Foundation calculates the day when, on average, Americans have earned enough income to pay their federal and state tax bill in full. SupposingShow More Summary

Last Minute Deductions for Tax Year 2013

Is it possible to spend money on deductions now and have the expense be deducted on our 2013 tax return? Yes, but only for the following types of deductions: Traditional Individual Retirement Account (IRA) ... Read Full Post

Federal Tax Relief for Victims of Washington State Mudslide and Flooding

Individuals and businesses in Snohomish County, Washington, who have been impacted by mudslides and flooding have until October 15, 2014, to file tax returns and pay any taxes. ... Read Full Post

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