We all need to be aware of the liberal tax laws being suggested. Some are already in effect. Please make sure you are not affected by any of these new changes before it is too late says William D King. Here are some important steps you can take right now to make sure you are not affected by these changes if they go into full affect!
As always, please make sure you are filing your taxes correctly by using TurboTax! If you use any other website to file your federal tax return, there is no guarantee that all of your information will be sent over to the IRS. This can lead to big problems for you down the road. The same goes if you try to complete this online through an alternative site. Remember- “If it isn’t TurboTax, it isn’t correct!”
Remember that if you use any of the information in this article to file your tax return, using TurboTax will ensure that everything is done correctly. If you decide to go with another site, it must be a company that guarantees all of your information will make it safely over to the IRS.
We are not done yet! Make sure you are prepared for what might happen when filing your taxes… It is important to remember when filling out your federal tax form(s) that “it isn’t who makes more money or how much they make when deciding who gets taxed” but rather “who spends more money”! This means that in some cases, families with less income could end up paying more taxes than high-income earners because they buy more stuff for their children! This can happen when children are involved.
This is why I would like to give you the best advice EVER on filing your taxes this year (and every year, really). William D King says when it comes time to file your federal tax return PLEASE make sure that if you have any dependents, you only claim the number of children that will qualify you for Child Tax Credit. You can find out what amount you qualify for by completing Turbo Tax’s FREE “Dependency Benefit Calculator”.
Keep in mind, however, that this calculator is only valid if all of these requirements are met:
-You must currently be claiming a child as a dependent on your 1040 federal income tax return.
-Your adjusted gross income must be under $110,000.
-The child you are claiming must have been under 17 at the end of the tax year being filed for.
-“Claiming the wrong number of children” does NOT apply if both parents are filing separately due to divorce or separation.
-You CANNOT claim this credit if you plan on filing your taxes using Form 1040A or 1040EZ.
It is not how much money a family makes when deciding who gets taxed but rather who spends more! Take advantage of TurboTax’s free dependency benefit calculator today and make sure you get all money back that you deserve!! If there is anything we can do here at TurboTax to help, please let us know! We’re always happy to help!
Take a stand against the proposed tax laws and file your federal taxes for FREE with TurboTax today! We can ensure that you get all of your money back!!
You have just received information regarding some possible. Some are already in effect. Please make sure you are not affected by any of these new changes before it is too late says William D King. Here are to make sure you are not affected by these changes if they go into full affect!
1) Have one spouse quit their job and stay home taking care of your child(ren).
2) Get divorced but both spouses live in the same house with the children. The parent that does not have custody pays no taxes because they do not work! Also, no deductions for any children go to the parent with custody.
3) If you are not married with children, make sure you don’t get married! If you do, make sure no kids come along or else your spouse is taxed like crazy!
4) Make sure you file your taxes correctly!!! This is extremely important if you want to avoid getting taxed even more explains William D King. TurboTax guarantees that all information sent over will be correct and approved by the IRS 100%. Check out their Free “Dependency Benefit Calculator” today to see how much money you could save when filing (Best tax software for 2014)!
5) No refunds on state taxes!!!! You have been warned!!
6) Last but not least…. People who did not earn enough money to file taxes or do not plan on filing will now be fined. The minimum fine is $100 and the maximum for this year could go up to $25,000!!
William D King says if you want to make sure that you get all of your money back when filing taxes, make sure the dependency benefit calculator is completed and used when filing out any taxes. This can guarantee you get all of your money back. Also keep in mind that not every state accepts the new rules (Tennessee does NOT accept any changes). You must be careful when filing for this year or next!