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H&R Block Answers Questions Regarding Tax Credits And Deductions For Education

Education expenses can be claimed as a tax credit on an itemized return, but under what circumstances? For instance, does a long-term course of study as an electrician count as a 4-year post-grad program?

H&R Block At Home Free Edition

According to income tax experts H&R Block, the American Opportunity Credit, or AOC, may be claimed by individuals who are working toward an educational credential such as a certificate or bachelor’s degree. That’s it.

H & R Block also advises its clients to look at the Lifetime Learning Credit as tuition and fees may be claimed under its rules as a deduction. One caveat is … Read more at 2011 Tax.

First Time Filers Should Use TurboTax.com

Filing taxes for the first time can be nerve racking and it is worse if you are late with your preparation. You may experience challenges gathering all your information so that is why it is important to plan ahead so that you are on time with your filing.

If your 2013 taxes are your first filing, you have to be mindful of who is preparing your taxes. You may choose to prepare the taxes yourself or hire a tax preparer. If you have been asking friends and family about filing yourself, you may have heard about TurboTax.com. TurboTax.com … Read more at 2011 Tax.

Tax Carnival Ecstasy – February 15, 2014

Welcome to the February 15, 2014 edition of Tax Carnival Ecstasy. In this edition we start with an article from Bill Smith on taxes and retirement. And Kurt from MyMoneyCounselor.com presents an article on the Alternative Minimum Tax for 2013? Hope you enjoy all the articles, bookmark this carnival, share, tweet, and come back soon.

retirement

Bill Smith presents You Need To Know A Lot About Retirement posted at FastSwings, saying, “2014 Taxes are here causing many people to worry a lot about retirement. If you are among these people, i.e. you feel you are far behind in … Read more at 2011 Tax.

How To File Back Taxes

How To File Back Taxes

All people with income need to file taxes yearly. If you have missed one or more years in the past ten, now is the time to file back taxes. The Internal Revenue Service (IRS) can impose steadily increasing fines and penalties the longer you wait.

Why File Back Taxes
There are convincing reasons to catch up on back taxes:
• Reduce penalties; there are separate penalties for not filing, and for not paying; by filing you avoid one penalty even if you cannot afford to pay immediately
• Ease your conscience by meeting legal requirements… Read more at 2011 Tax.

Are Annuities a Good Investment

Are Annuities a Good Investment

There are two different types of annuities: deferred annuities and immediate annuities. The type of annuity you choose depends on how soon you expect to receive payments. If you are looking for a long term investment where you plan on making withdrawals once you reach retirement then you might choose a deferred annuity. If you are looking to make withdrawals sooner than you may want to choose an immediate annuity.

300px Types of annuities

English: Types of Annuities (Photo credit: Wikipedia)

Either type of annuity can be fixed or variable. A fixed annuity acts like a CD from a … Read more at 2011 Tax.

Filing Your 2011 Taxes Online

Filing Your 2011 Taxes Online

Every year, many people race to tax preparation offices to have their annual taxes prepared, making sure to beat the April 15 deadline. Long waits and high fees are common, and many people find getting their taxes done a chore. Preparing your own taxes can save you time, money and hassle.

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Tax preparation help at the library (Photo credit: Newton Free Library)

Even if you have never prepared your own taxes, you will find filing your 2011 taxes online simple and easy. Online tax prep programs provide you with step by step instructions and guide … Read more at 2011 Tax.

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