Posted on

Filing Your Taxes for Free & How it Works

free file

Is free tax filing really “free”?

During tax season, many taxpayers wonder if free file through tax preparation sites is a myth. It turns out, it’s true but it solely depends on your tax situation. 

How taxpayers fall for advertising.

On the bright side, the best part about filing online is being able to file your taxes right from home. For one thing, you can avoid the hassle of waiting to see a tax accountant. On top of that, you even see options to file for free!

Unfortunately, not all tax sites who advertise for free tax filing can help taxpayers for free. Most tax sites will only allow you to file your taxes for free if you have a “simple” return; meaning taking the standard deduction. 

As a reminder, if you’re itemizing the deductions below, you cannot file for free. Continue reading “Filing Your Taxes for Free & How it Works”

Posted on

It’s Back-to-School & Time For Your Refund!

back to school

It’s back to school time, so here are some tips for your taxes!

Attention parents:

  1. Get up to $2,000 for the Child Tax Credit if your child is under 17, resided for more than half the year with you, a dependent on your tax return, your relative, a U.S. citizen, national or resident alien. The refundable amount of the credit goes up to $1,400.
  2. If your child is under 13, claim the child and dependent care credit for child care expenses.
  3. Depending on your income, you can claim the Earned Income Credit (EIC).
  4. The Adoption Tax Credit reduces your tax for fees related to court, attorney, travel and meal expenses. You can also claim the Special Needs Credits for all relating child’s special needs expenses.
  5. If you’re paying for your child’s college education, claim the Education Credit for tuition, mandatory supplies and related fees.

Continue reading “It’s Back-to-School & Time For Your Refund!”

Posted on

What is the Tax Refund Schedule for 2018?

tax refund schedule 2018

Do you feel like you’re playing the waiting game?

You might be wondering how long it takes for you to receive your refund. Typically, the IRS issues tax refunds in less than 21 days as long as there are no discrepancies.

If you are due a refund, it may take longer depending on the situation or time your financial institution takes to direct deposit or mail it to you.

Here are some situations that may prevent you from receiving your refund:

Continue reading “What is the Tax Refund Schedule for 2018?”