Posted on

California Income Tax Rates

California residents pay the highest income tax rates in the country…

California is a paradise to its 38 million residents. Wines in Napa, celebs in L.A., Disneyland in Anaheim, the zoo in San Diego, well, there’s a lot to see and do.

However, living in the golden state comes with a hefty price tag. California levies the highest tax rates in the country. If you’re a new CA resident, you’re bound to notice it most when you file your state return.

Just how pricey is it?

Here are the 2014 California income tax rates for single filers:

California 2014 Tax Rates.jpg

If you’re Married Filing Jointly or Head of Household, just double the income brackets listed above. Continue reading “California Income Tax Rates”

Posted on

RapidTax Prices Change for the Better!

We’ve lowered our prices!

Signed up but haven’t filed your 2014 tax return yet? You’ll be happy to hear that we’ve lowered our prices! 

And you still get expert tax help by phone or chat!

Retirees Now File Free!

Are you retired, aged 59 1/2 – that means you were born on or before September 16, 1955 – and received income from a retirement plan or social security? Your federal tax return is now free with RapidTax!

Not a retiree? Visit our pricing page to see who else qualifies for a free return.

File a State Return for $9.95!

The cost to file a state tax return with your federal return is now $9.95. That’s a savings of 50%!

Claiming Dependents? Deluxe drops to $24.95!

If you’re claiming a dependent(s) on your federal tax return, you’ll need our Deluxe Package. The great news is that the Deluxe Package price has decreased to $24.95!

You will also need the Deluxe Package if you’re reporting any of the following items:

  • any above the line deductions
  • alimony income
  • early distributions from retirement plans
  • Premium Tax Credit

Reporting Business Income? E-File for $34.95!

If you earned business or self-employment income in 2014, you’ll also save this tax season! Premier Package customers can now file a federal return for $34.95.

Premier include those reporting any of the following items, along with unlimited professional tax advice:

  • business or self-employment income
  • rental  income
  • royalties
  • capital gains or losses

Continue reading “RapidTax Prices Change for the Better!”

Posted on

What You Need to Know About Claiming Your Dependent Relative

Taking care of an aging parent or relative can be hard, not to mention expensive. The good news is that you may be able to claim them on your tax return and get a bigger refund.

Supporting a relative can impact many areas of your life.  The most obvious are the changes to your living situation, amount of free time you have, and your finances.

To help relieve the financial strain of caring for a relative, you can report these relatives as dependents on your tax return. Doing so can save you thousands of dollars in taxes, because for every qualified dependent you claim your taxable income is reduced by $3,950.

Your dependent will belong to either one of the two following categories:

  • qualifying child 
  • qualifying relative

To learn more about claiming a qualifying child, refer to this RapidTax post.

Who Can I Claim as a Qualifying Relative Dependent?

The term “relative” may be unclear. For example, is your cousin’s wife considered your relative? How about his ex-wife? Continue reading “What You Need to Know About Claiming Your Dependent Relative”