When it is time to use TurboTax For This Year to complete your taxes, you may want to consider a few tips that can save you money in the coming year. Planning early in the year makes it easier to reach your financial goals by the end of the year. Since you are already running the numbers with Turbo Tax 2014, you have records that can show you where to make cuts for the next year.
Review Your W-4
Changes in withholding laws affect the money your employer must withhold from each paycheck. If you find you owe money at the end of the year using Turbotax 2014, you may want to increase the withholding. If you are getting a big refund each year, decrease the amount withheld to increase your monthly budget.
Winterize Your Home
Turbo Tax 2014 can help you to find special tax credits for this type of action. They reduce the cost of projects that provide long term savings to you as a homeowner.
Look at Your Cellular Plan
Many people are paying hundreds of dollars monthly for their cellphones. That two year contract that gives you the latest smart phone can be costly. Today, there are providers offering great plans with no contract. Some are as little as $25 per month and will allow you to bring your existing phone.
Turbo Tax 2014 offers some great tips for ensuring you take qualifying deductions on your tax returns. In addition, the software makes tips that can help you to save even more for the following year.
Intuit TurboTax has just announced that Americans can use their software to file their 2014 taxes with no fees or charges. For about 60 million tax filing Americans, it might just be the best possible tax break.
The TurboTax Federal free edition allows taxpayers to file both their state and federal taxes, and this is the first time the company has provided this service at no charge. If you have been thinking about switching from a well known national tax preparer, now is the ideal time to do that especially as TurboTax users will also not have to claim their earned income tax credit or adhere to new health care laws.
For the approximately 60 percent of people with simple returns who file as early in the year as possible, TurboTax Absolute Zero is going to be one of the most useful tax tools ever. Many of these early filers receive a refund check of around $2,700, making it the single biggest check they will get in the year. TurboTax is one of the most respected tax preparation names and prepares more returns that any other tax preparation company.
Sasan Goodarzi, the manager of Intuit’s tax group for consumers acknowledged that people understandably wanted to keep as much of their hard earned money as possible. Goodarzi went on to point out that the free service is the company’s way of offering hard working tax payers a break on their 2014 taxes and a way of demonstrating commitment in the coming years.
January 20th is the date that the IRS will begin to process tax returns that were filed electronically, although if you want to get a head start on your 2014 taxes, you can use TurboTax now. Your return will be held securely until the 20th when it will be processed.