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TurboTax Shares the 10 Most Overlooked Tax Deductions

TurboTax Shares the 10 Most Overlooked Tax Deductions TheStreet 2 days ago © TheStreet TurboTax Shares the 10 Most Overlooked Tax Deductions Subscribe to the Turbo Tips podcast on Apple Podcasts, Spotify and iHeartRadio for more tax tips in 5 minutes or less! Get your share of more than $1 trillion in tax deductions The most recent numbers show that more than 45 million of us itemized deductions on our 1040s claiming $1.2 trillion dollars worth of tax deductions. That s right: $1,200,000,000,000! That same year, taxpayers who claimed the standard deduction accounted for $747 billion. Some of those who took the easy way out probably shortchanged themselves. (If you turned age 65 in 2018, remember that you deserve a bigger standard deduction than younger folks.)

The Gift Tax Made Simple

Filing Your Taxes Late

States with the Lowest Taxes and the Highest Taxes

States with the Lowest Taxes and the Highest Taxes turbotax 2 hrs ago © TurboTax Tax Software States with the Lowest Taxes and the Highest Taxes Location, location, location is a focus that applies to more than just housing. Where you live can help or hinder your ability to make ends meet. A myriad of taxes such as property, license, state and local sales, inheritance, estate, and excise taxes can eat away at your income. Often, the biggest tax ticket citizens face after paying the Internal Revenue Service is the one their state presents. As a result, identifying the states with the lowest taxes might be a smart financial move to make.

Are My State Tax Deadlines Extended Due to the Coronavirus?

Are My State Tax Deadlines Extended Due to the Coronavirus? turbotax 1 hr ago © TurboTax Tax Software Are My State Tax Deadlines Extended Due to the Coronavirus? The federal tax filing deadline for individuals has been extended to May 17, 2021. Quarterly estimated tax payments are still due on April 15, 2021. For additional questions and the latest information on the tax deadline change, visit our IRS Announced Federal Tax Filing and Payment Deadline Extension blog post. Tax Year 2020 Filing and Payment Deadline Information In response to the impact Coronavirus has been having on Americans, the IRS, and most state departments of revenue have extended the tax filing deadline for tax year 2020 (the taxes you file in 2021).