Many taxpayers fail to file a return even when required to do so. Your obligation to file these returns never goes away, but catching up may be easier than you think.
One of the easiest ways to do your taxes is to use online tax software. Popular programs includeTurboTax,H&R BlockandTaxAct. Online programs let you plug in your information from your tax forms, and they make it simple. For example, TurboTax asks for information with questions like, “What ...
If you plan well and pay your taxes regularly—either through your employer or directly as a contractor— you might just find that you paid more than your share. In that case, you’ll get a tax refund. If so, try to reward yourself, perhaps with a fun night out among good friends. ...
If your tax situation is somewhat complicated, in that you need to fill out Form 1040 and other supplemental forms, then you’ll need tax filing software. The software will help you handle the workload. If you opt to do your taxes manually, you’ll download and fill out the necessary IR...
Self-employed taxpayers likely need to pay quarterly tax payments and meet key IRS deadlines. Here’s a closer look at how quarterly taxes work and what you need to know when filing your tax returns.
If you want to take on more of the responsibility yourself, you can set up a brokerage account through firms like E*Trade, Fidelity, Charles Schwab or Vanguard. "They're a little more work," says McLay. Investing for short- and long-term goals ...
All the do-it-yourself tiers, from "Deluxe" on up, carry additional fees for e-filing state tax returns (you can print out your state tax return from TurboTax and mail it in yourself to avoid the fee). There are a few potential benefits to using a paid TurboTax package over IRS Free...
As its name indicates, "Self-Employed" is recommended for those reporting self-employment income and expenses. All the do-it-yourself tiers, from "Deluxe" on up, carry additional fees for e-filing state tax returns (you can print out your state tax return from TurboTax and mail it in ...
If you plan to hire employees, you need an EIN for your business. Also known as aFederal Tax IDnumber, your unique EIN identifies your business with the IRS. If you don't have one, you will need toapply for one, Opens overlaythrough the IRS before doing payroll yourself. ...
If you’re hoping to save money on payroll-related costs and ready to get those brain neurons firing, follow along with these 9 steps to learn how to do payroll by yourself. Step 1: Collect your tax information Before running payroll for the first time, you’ll need to set up an Emplo...