The tax information you need all in one place.We’ve put together a master list of helpful articles for your tax situation, whether you’re preparing to file, in the process of filing, or waiting for your refund. If you’re self-employed, we have a section for that too.Let’s dive right in.Indiv...Read more
Just Married: How to Fill Out Your W-4
1 min read
Big life events often trigger tax changes, and getting married is one of them. Though often overlooked, one of the most important steps you should take after getting married is updating your Form W-4 with your employer.Should I fill out a new W-4 when married?Yes! Your W-4 tells your employer how mu...Read more
How to File a 1099-K on TaxAct
1 min read
Did you receive a 1099-K tax form this year? If you’ve never seen this form before and are unsure what to do with it, don’t freak out — we can help you understand your Form 1099-K and guide you through reporting any necessary income.How do I use my 1099-K when filing my tax return?TaxAct® tak...Read more
How Crypto Losses Can Lower Your Tax Bill
1 min read
The value of Bitcoin and other cryptocurrencies has undoubtedly seen better days. But there’s a small silver lining — if you sold crypto at a loss in 2022, you might be able to save on your tax bill this year.What is the definition of cryptocurrency?Cryptocurrency differs from traditional curren...Read more
Why Is My Tax Refund Smaller This Year?
1 min read
The IRS has advised that many people should expect smaller tax refunds for 2022. Here’s why your refund may not be as big as last year’s and some tips on what you can do to maximize your refund amount.Why do you get a tax refund from the IRS?Let’s review why we get a tax refund in the first pl...Read more
Selling Collectibles on eBay: How to Report Your Income
1 min read
Did you know that collectible sales come with their own tax rules? Here are the tax implications of selling collectibles and how to report the sale of a collectible asset on your income tax return.Does selling collectibles count as income?Yes, selling collectibles on eBay or a similar site counts as...Read more
What To Do With a Consolidated 1099 Tax Statement
1 min read
You might get a consolidated 1099 tax statement this year if you received taxable income from investments. Here’s what this form is telling you and how to report your 1099 income to the IRS in TaxAct®.What is a consolidated 1099 tax statement?A consolidated Form 1099 combines five separate 1099 f...Read more
Tax Calculators and Tax Tools
1 min read
Are you unsure about your tax situation this year? Not to worry. We’ve put together a list of tax calculators to help you crunch your tax numbers for 2022. Check out our extensive calculator list below and learn how to calculate your AGI, self-employment tax, crypto taxes, and more.Go-to tax calcu...Read more
Bottles, Diapers, and 7 Tax Benefits: Life with a Newborn
1 min read
Updated for tax year 2022.There’s no doubting it — having kids is expensive. Between paying for diapers, daycare, and many other baby supplies, new parents can quickly find themselves overwhelmed financially. Fortunately, several tax advantages are available to parents to alleviate some financia...Read more
New Year, New Financial Goals (And How to Stick to Them)
1 min read
Did your New Year’s resolution involve saving more money? If so, you’re not alone. Here are some tips for spending less in 2023 and the little things you can do to stick to your financial goals as we head into February and beyond.According to a WalletHub® survey, one in three Americans planned ...Read more