How to Simplify Tax Time with Quicken

The more tax information you track in Quicken, the easier your life can be when tax time rolls around. And you don’t have to wait until your taxes are due to find out where you stand. In fact, you probably won’t want to. This guide shows you how to: Track your tax deductions Find new tax deductions Use the Tax Center Run tax reports Track your paycheck Use the Tax Planner Explore other tax... Continue reading

10 Tax Deductions You Might Not Have Considered

As many accountants will tell you, it’s not how much you make it’s how much you keep that counts. The difference is the taxes you pay. Claiming tax deductions and credits can help reduce your tax bill and keep more money in your pocket. Whether you use tax preparation software or work with an accountant, knowing what you can claim on your taxes can help you plan for the upcoming tax year and... Continue reading

How to Make the Most of Your Charitable Contributions

4 Ways to Maximize Your Charitable Contributions Charitable giving is an altruistic opportunity to help others and receive a tax deduction. Here’s how you can maximize both impacts.  You can approach charitable giving in many ways. Perhaps it’s a monthly obligation, one of your regular budget categories, or an annual tradition. No matter when you give, a strategic approach can help ensure your... Continue reading
6 Smart Ways to Spend Your Tax Refund by Quicken

6 Smart Ways to Spend Your Tax Refund

In 2018, the Internal Revenue Service (IRS) reportedly issued 112 million tax refunds, with a grand total of $324 billion returned to taxpayers.  If you received one of those refunds, it might have been the financial highlight of the year — more money in a lump sum than you could ever expect to receive from another source. Did you spend the money wisely? This year, get rid of that devil on your... Continue reading

From Donations to Deductions: Tracking Your Charitable Donations

With the advent of social giving online, charitable donations such as #GivingTuesday and campaigns in the wake of disasters provide easy ways to support causes close to our hearts. Whether you give at the end of year or throughout, tracking your charitable donations can provide rewards at tax time.   Use Itemized Deductions for Large Donations The IRS offers two ways to deduct expenses to... Continue reading

What Should You Do With your Tax Refund?

A tax refund can give you a sudden influx of unexpected cash that you can use for a variety of purposes. But make sure you have a plan for the money, and don’t be in too much of a hurry to get your money by signing up for a refund anticipation loan or other product. “Generally this is a bad idea,” says Ben Wacek, a certified financial planner and founder of Wacek Financial Planning, LLC. “It's... Continue reading

How to Lower Your Tax Burden

How to Lower Your Tax Burden Paying taxes usually isn't high on people's lists of things they like to do, but it's the law. But you can take steps to lower your tax burden. Many techniques require some planning, so the earlier you start thinking about your tax bill, the more opportunities you'll have to lower it. Contribute to Pretax Retirement Accounts Contributing to a traditional 401(k) or 403... Continue reading

Last Minute Tax Deductions

During the winter season, the April tax deadline can seem a long way off. Keep in mind you'll be reporting the previous tax year, which ends while you're sipping Champagne and humming "Auld Lang Syne." Addressing a few issues before you ring in the New Year can save you substantially at tax time. Continue reading

How to File Your Own Taxes

A big myth about filing your own tax return is that the process is too complex for anyone other than an expert to handle. Although there's no question that the U.S. tax code is extensive and very specific, the reality is that most taxpayers have simple tax situations and the Internal Revenue Service provides updated instructions annually. With some care and planning, you can file your own taxes... Continue reading