Small businesses create jobs and help drive economic growth, and they can improve their bottom line at tax time under the Protecting Americans from Tax Hikes (PATH) Act that was passed in 2015. Recent provisions in the Act extend and protect certain tax benefits for businesses, making long-term planning easier for fledgling companies, entrepreneurial firms, and startups, to name a few. To find out more, see the full TurboTax article.
Those who serve in the U.S. armed forces are honored with a number of benefits, ranging from education assistance to retirement. Among the perks are a number of steps to make filing federal income tax returns easier, as well. To find out more, see the full TurboTax article.
When your spouse and children are U.S. citizens, claiming them on your taxes is simple: just provide their names and Social Security numbers. When they’re non-citizens, though, things may be a little more complicated. But you can still claim them—and reap the tax benefits of doing so. To find out more, read the full TurboTax article.
The first thing that often comes to mind when considering dependents is the parent/child relationship. In many cases, parents claim their children as dependents until they become adults. It also works the other way around. If you cared for an elderly parent, your parent may qualify as your dependent, resulting in additional tax benefits for you. For details about meeting meet IRS criteria for claiming a parent as a dependent, see our TurboTax Article.
Congratulations on starting a 401(k)! Not only will your future-self thank you for investing now, but there are also some fantastic benefits you can enjoy now.
With a traditional 401(k), your contributions go in tax-free. Since your contributions come in pre-tax, that means your taxable income is lower. Double win!
To learn more about
401(k) tax rules, visit the TurboTax Blog.
If you’re an educator, you may qualify for a number of tax benefits that could help you save money on your taxes this year. Find out all about tax breaks for teachers in this TurboTax tax tip video.
Discover the tax benefits for the self-employed taxpayer and his or her car used for business on the TurboTax Blog. 🚙
Congratulations on your new bundle of joy! Take advantage of all the tax saving benefits of having a new baby with this helpful tax tip video from TurboTax.
Many people spend time giving back to their communities.
It doesn’t matter if you are using your business skills or hammering a nail for the first time, whatever you do to help a worthwhile cause may have tax benefits. TurboTax can tell what you need to know to take advantage of these tax benefits.
IRS e-File is now open! Get your taxes done early, save some money and relax before Tax Day rolls around! Login to TurboTax.com and get the refund you deserve.
Those who serve in the U.S. armed forces are honored with a number of benefits including tax return filing and payment extensions. Learn more about military personnel tax tips and the TurboTax military discount.
You could get $4,000 off your taxable income for each dependent you claim on your tax return, but who qualifies as a dependent? A tax dependent could be a child, parent - or even your significant other. Watch this tax tip video from TurboTax to learn more.
Job hunting can be costly, but you may be able to deduct those costs on your tax return! Learn more about tax deductions for job hunters, such as childcare costs, with this tax tips video from TurboTax.
The happiness a new baby brings into a family is a wonderful thing! Learn how your new baby can bring you joy and savings.