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Is Getting Tax Refunds Better than Owing Money?

We all get really excited when we fill in all our forms, submit all our receipts, go over our expenses, and find out we’re eligible for tax refunds. We start mentally spending it right away: this much for the house, this much for fun, maybe I’ll pay rent with this, etc. And, with direct deposit refunds now available we’re getting them faster than ever–sometimes less than a week after filing!

But as great as tax refunds are, many financial advisors say that if you’re getting a refund, you’re getting a bum real. That, in fact, a refund is a sign of poor financial management. Here’s why: Continue reading “Is Getting Tax Refunds Better than Owing Money?”

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Can I File State Income Taxes Online?

The IRS, in a shockingly forward facing-move, began the switch from paper forms to e-file years ago. This move is incredibly savvy on their part–it makes sure that people who aren’t inclined to do forms can still file their taxes (thus increasing the money they get) and it makes processing a lot easier for them. Win-win. Unfortunately, it’s a lot harder to file state income taxes online.

Harder, but not impossible, of course. Here are some ways you can do it: Continue reading “Can I File State Income Taxes Online?”

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Can My 2009 Tax Extension Be Filed Online?

Forgetting to file your taxes by the April 15th deadline can be a very scary thing. It’s easy to imagine your future financial troubles: losing your car, your house, going into debt, or having to file for bankruptcy. What’s less easy for people to imagine is something like the 2009 tax extension form: an easy, simple to fill out form that lets you pay the IRS later.

I know, I know. You won’t believe me because the words IRS and easy being in the same sentence doesn’t compute in your brain. But it gets even easier: you can actually file your 2009 tax extension form online! Here’s the how and why: Continue reading “Can My 2009 Tax Extension Be Filed Online?”