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  • Get Prepared for Tax Season with These Easy Steps

    Get Prepared for Tax Season with These Easy Steps

    It can be a little daunting to start thinking about taxes but remember that it’s important to get the ball rolling sooner rather than later. You’ve got until April to get your taxes in, but that doesn’t mean you should wait until then to start filing. The sooner you start thinking about tax season the sooner you can respond should unforeseen conditions arise. After all, you don’t want to get a nasty surprise and not have time to respond to it!

    Easy Steps to Get Ready for Tax Season

    Choose a Method of Filing

    First, you’re going to want to choose a method of filing. Are you going to file your taxes yourself or are you going to use a tax preparer? Generally, we advise that you file your taxes yourself unless they are particularly complex. If you have a very complex tax return that you need to fill out, consider going with an inexpensive tax preparer.

    When choosing a tax preparer, make sure they have a PTIN, or Preparer Tax Identification Number. If they do, it means they’re qualified to fill out a federal tax return. Before choosing this person, ask about any fees that they may charge to prepare taxes. The more complex your return, the higher the fee you can expect to pay. However, stay away from anyone who wants a percentage of your return: stick to flat fees only.

    If you choose to use a tax preparer, make sure you set up an appointment with them as soon as possible to begin discussing your tax returns. This goes double if you expect a tax refund. The sooner you get the ball rolling on getting your return in, the sooner you can get your money!

    Gather Your Files

    Get ready to start gathering your personal files. By the end of January your employers should have provided you with various documents relating to your tax returns. Typically these documents are W-2’s, which employers provide to employees and indicate your income from your job. Self-employed individuals get a different form, however, and there are many other types of documents you may receive.

    However, whatever your forms of income may be, you should have all of the documents related to your taxes in hand by the end of January. Make sure you carefully file these somewhere you won’t lose track of them! It’s very important to have these on hand while filing your taxes.

    Other files you may need to gather could be receipts from various purchases or charitable contributions you made this year. If you think you’ll get a bigger deduction by itemizing, then you should opt to gather your relevant receipts. However, the standard deduction can often be larger than an itemized deduction, so keep that in mind when you set about filing your taxes.

    Get Personal Info Together

    Make sure you have information like your social security number and the numbers of all dependents you’re claiming this year. If you own any vacation homes or rental properties, make sure you have the documents relating to them together and ready to go in time for tax time. Addresses and deeds will be helpful to have on hand! Additionally, the amount you paid, the amount you’ve made on them if they are rental properties and the dates you purchased them will all be needed.

    Get a Copy of Last Year’s Return

    You’re going to want a copy of your prior year’s return on hand. If you need information you may have forgotten, you’re going to need the previous year’s return. While the information held within might not be the most critical, it’s still good to have things like charitable donations from last year and payors of interest and dividends on hand to refresh your memory.

    Decide What to do With a Refund

    If you expect to get a tax refund, be thinking about what you’re going to do with it once you get it. Many people prefer to simply have the funds deposited straight into their checking accounts, and while this is straightforward, it might not be the best plan. Consider saving the money, instead, or applying it to next year’s tax bill!

    For instance, you could have the funds allocated to your retirement account or invest it in stocks after it’s deposited into your checking. Whichever route you choose, just keep in mind that the sum you get may be better served being saved than being used to get a new tattoo or game console! Just don’t spend it all in one place.


  • Get Tax Help for Seniors

    Get Tax Help for Seniors

    There’s a reason most people get help filing their taxes: taxes are really, really complicated. Between social security, tax credit, exemptions, deductions, property taxes, there are a ton of complex things to keep up with. It’s no surprise that a number of seniors get intimidated when it comes to filing their taxes. There are changing technologies, changing tax rules, and fixed incomes can all make tax season difficult for seniors. Here are some of the best ways to get tax help for seniors.

    Get Tax Help for Seniors

    AARP Tax-Aide

    Whether or not you already have an AARP membership, or know someone who does, this is a great way to go. The AARP Foundation has tax aide services that can be a lifesaver for seniors. The best part is that you don’t even need to be an AARP member to take advantage of this great service! It’s available for anyone over 50, free of charge. You can meet with these tax professionals free of charge online or in person, whichever you prefer! That way, if you would rather talk face-to-face, or if you prefer to file form the comfort of your home, you’re set either way!

    The volunteers who work for the AARP Tax-Aide program are also IRS-certified tax professionals. These aren’t amateurs who are going to mess up your taxes, these are people who are certified and know what they’re doing! That way, you can rest assured knowing you’re getting the help you need with your taxes and the peace of mind that includes.

    If you go for an in-person session, you’ll be glad to hear that they’re available all throughout tax season, from January to April 15th. Generally, these visits occur in convenient and public locations. Community centers, public libraries, banks and shopping malls are all common locations for these visits, so you need not worry about meeting in person. These locations are in public, well-lit and easy to access, so you don’t have to worry about getting to the meeting location.

    Best of all, the online side of this tax service is available year-round to answer your questions about taxes. If you have any burning questions you need answered and want to be ahead of the curve, this is a great way to go! That’s what happens when you go through an organization as helpful as the AARP.

    Federal Government Tax Assistance

    There are two tax services offered by the IRS. There’s the Volunteer Income Tax Assistance Program and the Tax Counseling for the Elderly Program. If you go through the IRS website, you can find in-depth information on both of these programs. Both the VITA and TCE programs have physical locations throughout the country you can visit to receive direct, in-person help with your taxes.

    Firstly, the VITA is a good program for those seniors who still earn some income, such as through a part-time job or perhaps through owned property. The VITA program typically helps those who do not speak English fluently, disabled people, people under a certain income level and the elderly. These services are primarily geared at seniors who make an amount of money under a certain threshold. Generally, those seniors who make more money than this threshold should consider going with professional paid tax services.

    The TCE, for its part, is geared more for seniors who aren’t sure where to turn for tax help. The service is specifically for seniors of age 60 or older who are on a fixed-income. These types of people are the exact ones that the TCE was created to help. If you or someone you love lives on a fixed income and needs income tax help, the TCE is the right call to help. They help seniors with things like retirement income and pensions, as opposed to traditional income methods. The free service is also volunteer-based and offers help during tax season. The volunteers are all IRS-certified professionals.

    State Taxes

    Both the VITA and TCE programs offer help with state taxes as well as federal taxes, so this usually shouldn’t be a huge concern for seniors. However, beyond this, some states do offer a state-specific tax program to help seniors if they have state-specific tax questions. While such situations would be rare, if a senior needs help with complex aspects of their state taxes in particular then they should look into whether their state offers a tax program.

    In the event it doesn’t, don’t panic! The bar association of your state may provide pro-bono legal help to seniors seeking tax advice. Local CPAs or other professionals may also offer help for seniors at no cost, so consider looking into these avenues!


  • Smart Ways to Spend Your Tax Refund

    Smart Ways to Spend Your Tax Refund

    If you’re expecting a tax refund this year, you’ve probably got a few ideas as to how you’re going to spend it. Maybe you’re looking to get a new tattoo, or maybe you want to buy some video games or new rims for your car. Maybe before you get your sights set on a frivolous purchase, however, you should start thinking about smart ways to spend your tax refund. There are better ways to spend a sudden windfall than on something frivolous and goofy!

    Smart Ways to Spend Your Tax Refund

    Set Up an Emergency Fund

    Do you have a savings account with $1,000 in it? No? Okay, here’s the first thing you need to do with that money. Take your tax refund, set aside $1,000 and save it. If you have money leftover after that, pay bills with it. Easy! See, having a savings account with a good little chunk of money in it is a good way to insulate yourself against those dumb, random things that are going to happen and drain your checking account.

    Your car is going to break down. Your heater is going to stop working in February. Or, your AC is going to bust in July. No matter what it is, some stupid happenstance will come along and smack you with a huge bill. Be ready for these frustrating moments by having money set aside to deal with them when (not if) they show up.

    Pay Down Debt

    That debt you have hovering over your head like the Sword of Damocles isn’t going anywhere until you do something about it. Kick that debt to the curb by paying your tax refund into it! The sooner you start paying down those big debts, the better. The longer your let those debts float by with minimum payments, the higher and higher the interest gets.

    That means that by focusing a large sum, like your tax refund, you buy back all the money that interest would have eaten up down the road. Why let interest compound and cause you issues down the line when you can buy back your money now? It’s the definition of a win-win scenario.

    Fix Up Your House

    You spend a lot of time at home. Make sure it’s a place you like being. By making your house nicer, you’re actually helping yourself in two ways. The first way is pretty straightforward: you like living in your house, so make it a nice place. The second is a bit more financial in nature. If you invest in your home, it’ll be worth more down the line!

    This especially goes for homes in areas that have ever-increasing property values. If your home is always going up, up, up in value just because of where it is, you can multiply this value a lot by just doing a bit of work on the place. A new roof, repairs to older sections of the house, a kitchen remodel: all of these things can add a ton of value to the place. What better time to do this kind of work than when you have the money free at hand?

    Travel Somewhere

    Rather than spending your money on something like a new TV or a down payment on a car, you could instead opt to go on a trip. There’s nothing quite like traveling to a new place and enjoying the scenery! Whether that’s some beautiful tropical island, a mountain ski lodge or just a city you’ve been dying to visit.

    See, when you buy “stuff,” the fun of buying the new thing wears off sooner rather than later. Then, you find a few months down the line wishing that you hadn’t spent all that money on something you’re just going to replace next year anyway. If you pay for a trip, however, you’ll make memories that will last you a lifetime.

    Donate the Money

    Do you have a hard time figuring out what to do with a sudden windfall? Maybe you’ve got a good bit of money in savings and you don’t really have the time to go out of town for a long trip. Maybe your house is already up to a great standard and you’re at a loss for what to do with the money.

    Well, good news! You can donate that money to a good cause. If you’re passionate about a social issue of some kind, like homeless shelters or cancer research, you can donate that tax refund money and make a difference in the world! You can even write it off on next year’s taxes and repeat the cycle of giving.


  • The Secret Hack To Getting Your Taxes Done During Coronavirus!!

    The Secret Hack To Getting Your Taxes Done During Coronavirus!!

    It’s that time of year again. Tax time, the time when you know you need to get out and get your taxes prepared. Maybe you’re notorious for putting it off, since it can be pricey.

    However, there are a number of ways to get your taxes prepared for FREE during COVID-19! In fact, you can even get your taxes prepared online for completely free today! Here are some of the best sites to use for free tax preparation during this pandemic.

    Free Tax Preparation During COVID-19

    FreeTaxUSA

    FreeTaxUSA is a user-friendly and well-made site for tax preparation. The site is very straightforward, easily walking you through filing your taxes step-by-step. If you’re worried about your taxes being too complex to fill out online, don’t. This site offers you a very thorough helping hand in getting everything filed easily.

    While the federal return is totally free through this site, filing a state return through this site costs money. On average it costs about $12, so make sure you factor that in when you’re considering your tax filing. Keep in mind that it’s most likely that any tax prep site you use will require a small fee for filing a state return.

    H&R Block

    Many people are much more familiar with H&R Block due to their physical tax preparation locations. However, H&R Block also offers a free tax filing service through their website. While preparing online might not sound like the normal H&R Block, it’s actually a rather streamlined and easy-to-use site.

    Not all types of returns can be prepared on the site for free, however. As with most sites, state returns will still require a fee to be sent in from their site. Additionally, more complex tax returns could include a fee for filing.

    The upside to H&R Block is that if your taxes prove too complex to fill out online, you can go to one of their physical locations. Then, a tax-preparer can get you set up in-person! Keep in mind, however, that using in-person tax preparation won’t be free.

    TurboTax

    As their numerous commercials have proclaimed, TurboTax allows you to file your federal return for free. As you might expect, this doesn’t apply to state returns, which include a small fee. Much like FreeTaxUSA, TurboTax offers a great user interface for inputting all of your tax information.

    You won’t have to worry about forgetting something or getting lost. If you miss a box or need to input more info, the useful client will remind you. You can rest assured with TurboTax that your return will be accurate before you submit it!


  • Where Should you Retire?

    Where Should you Retire?

    Deciding where you should retire is always a top concern for many seniors. It may be something you start to consider early on in your life. If you don’t plan to live in your current city or state, you may need to start planning early and consider where your hard-earned dollars, and that retirement plan, will last the longest.

    The United States has many great places to call home that are especially nice for senior citizens. Some of the best places to consider:

    Virginia

    In the first place, you should look for the best senior independent living in the great state of Virginia. Virginia has many of the features that you need to live a great life as a retiree. First, it is tax-friendly for all retirees. Since the tax rate, you fall in will greatly determine how long your retirement lasts, this is a good thing. In this state, all Social Security income will not be taxed, along with all earned income less than $12,000. The property tax rate is only 1% and the maximum sales tax is 6%. You can purchase groceries with only 2.5% tax too.

    Virginia also has communities for every level of income. While the average cost of living here is 9.4% above the national average, if you live outside of the cities, you can get a much more affordable rate. There are plenty of nice areas, including Roanoke and Richmond, that is much better to live in without the high price.

    Medical care is very easy to access in this state. Even though Virginia is not as large as many other states, it can boast 89 premier hospitals, making it one of the best places for your medical care. There is an astounding 127 primary care physicians for every 10,000 residents, which is higher than any other state.

    The main drawback is the weather during the winter. Virginia is generally really nice, with the beautiful Appalachian Mountains to enjoy and look at any time, and plenty of great forestry and scenery to help you keep moving and getting stuff done during the day. But thanks to the mountains, the winters can get a little snowy and cold.

    Nebraska

    Nebraska is another place to look when you are considering where you should retire. This state may not be the first one on your list when you start, but it will provide you with a lot of great features. First, it has the affordability you need. Nearly 3000 retirement-aged adults moved to Nebraska in 2017. While this is lower than other states like Florida and Arizona, the cost of living in Nebraska is much lower, making it an appealing choice. While this state doesn’t exempt your Social Security benefits, it does have lower costs in other places, such as lower home prices and lower state tax.

    Nebraska also has some great medical facilities you are sure to enjoy. Residents in this state get some great health care networks, including Nebraska Medicine in the Omaha area and Bryan Health in the Lincoln area. There are many other great hospitals and care centers throughout the states to keep you healthy.

    The weather is pretty mild most of the year in Nebraska. And there is a lot of history to explore along with beautiful trails, nature, and more. The winters can get a little bit colder here and may be severe enough to drive a few seniors away. However, most of the year is nice and the winter storms are nowhere near as bad as some of the locations up north.

    Florida

    Florida is one of the top places to retire for seniors. It has pretty much everything that you would want in your retirement, from no taxes to great weather and some of the best health care systems in the country. The first thing that draws retirees here is the nice weather. Florida has gorgeous weather all year long. While you may have to deal with some rain many days of the year, it doesn’t last for long and then you get the sun back to help you enjoy the day.

    The taxes are also appealing. Florida has low taxes, including no state income tax, no estate tax, and no inheritance tax. This is a big deal when you are retiring and on a fixed income. This helps to stretch your money even further. Florida also has a lower cost of living compared to other states. It is cheaper to get a nice home and get the medical attention that you need, Plus, there are a ton of attractions and things to see and do right in your backyard so traveling is not as expensive.

    Healthcare is also great here. Since so many retirees head south when they are ready to take a break from work, there are plenty of options for finding the right medical professionals for you. There is the Mayo Clinic in Jacksonville, the Florida Hospital in Orlando, and the Moffit Cancer Center in Tampa so you are sure to find the medical attention you need.

    This state also has a wide range of adult active communities. If you would like to keep busy and meet others, there are a lot of options out there. All of the Active Adult Communities also have services and amenities that are sure to attract your attention. Getting some of the socialization you need and all that good sunshine will help you to stay healthy and happy in retirement.

    Arizona

    If you want a fun place to retire with a lot of great outdoor activities, then Arizona may be the place for you. It has the Grand Canyon along with many other historical locations that will get you up and moving all day long. Learn a little bit of history to keep the mind sharp, while having fun being active at the same time.

    The Weather in Arizona is also amazing. The winter temperatures found in this state are like the summer temperatures found in the southeast, but you won’t have to worry about the humidity. The rainfall will vary based on where you live with up to 30 inches a year in the mountains, but less than three in the dessert. Most cities will enjoy more than 250 days of sun each year so this is perfect if you want something that will keep you happy all year long.

    The taxes are also affordable here, which is important while you are on a fixed income. Arizona does not tax your social security income so that will help stretch your money a little further. In addition, there are no estate taxes, gift taxes, or inheritance taxes and the state tax is nice and low as well.

    Thanks to the great weather and low taxes, many retirees are going to Arizona to help them live a good life. This also means that there are plenty of amazing doctors and hospitals to love too. Medical facilities are found throughout the state, with some of the best in the country found in Pheonix. You are sure to find all the medical attention and the best doctors for all your needs.

    Finding a good place to retire is so important. You have spent a lot of your time saving and preparing so you can enjoy the later years of your life. You want to pick a comfortable place, doesn’t cost too much, has nice weather, will give you plenty to do and has some good medical facilities to help you when you get sick. Virginia, Nebraska, Florida, and Arizona are some of the best places to retire in the United States and are options you should check out while planning your retirement.

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  • The Secret Hack To Getting Your Taxes Done For FREE During Coronavirus!!

    The Secret Hack To Getting Your Taxes Done For FREE During Coronavirus!!

    It’s that time of year again. Tax time, the time when you know you need to get out and get your taxes prepared. Maybe you’re notorious for putting it off, since it can be pricey.

    However, there are a number of ways to get your taxes prepared for FREE during COVID-19! In fact, you can even get your taxes prepared online for completely free today! Here are some of the best sites to use for free tax preparation during this pandemic.

    Free Tax Preparation During COVID-19

    FreeTaxUSA

    FreeTaxUSA is a user-friendly and well-made site for tax preparation. The site is very straightforward, easily walking you through filing your taxes step-by-step. If you’re worried about your taxes being too complex to fill out online, don’t. This site offers you a very thorough helping hand in getting everything filed easily.

    While the federal return is totally free through this site, filing a state return through this site costs money. On average it costs about $12, so make sure you factor that in when you’re considering your tax filing. Keep in mind that it’s most likely that any tax prep site you use will require a small fee for filing a state return.

    H&R Block

    Many people are much more familiar with H&R Block due to their physical tax preparation locations. However, H&R Block also offers a free tax filing service through their website. While preparing online might not sound like the normal H&R Block, it’s actually a rather streamlined and easy-to-use site.

    Not all types of returns can be prepared on the site for free, however. As with most sites, state returns will still require a fee to be sent in from their site. Additionally, more complex tax returns could include a fee for filing.

    The upside to H&R Block is that if your taxes prove too complex to fill out online, you can go to one of their physical locations. Then, a tax-preparer can get you set up in-person! Keep in mind, however, that using in-person tax preparation won’t be free.

    TurboTax

    As their numerous commercials have proclaimed, TurboTax allows you to file your federal return for free. As you might expect, this doesn’t apply to state returns, which include a small fee. Much like FreeTaxUSA, TurboTax offers a great user interface for inputting all of your tax information.

    You won’t have to worry about forgetting something or getting lost. If you miss a box or need to input more info, the useful client will remind you. You can rest assured with TurboTax that your return will be accurate before you submit it!


  • The Secret Hack To Getting Your Taxes Done For FREE!!

    The Secret Hack To Getting Your Taxes Done For FREE!!

    It’s that time of year again. Tax time, the time when you know you need to get out and get your taxes prepared. Maybe you’re notorious for putting it off, since it can be pricey.

    However, there are a number of ways to get your taxes prepared for FREE! In fact, you can even get your taxes prepared online for completely free today! Here are some of the best sites to use for free tax preparation.

    Free Tax Preparation

    FreeTaxUSA

    FreeTaxUSA is a user-friendly and well-made site for tax preparation. The site is very straightforward, easily walking you through filing your taxes step-by-step. If you’re worried about your taxes being too complex to fill out online, don’t. This site offers you a very thorough helping hand in getting everything filed easily.

    While the federal return is totally free through this site, filing a state return through this site costs money. On average it costs about $12, so make sure you factor that in when you’re considering your tax filing. Keep in mind that it’s most likely that any tax prep site you use will require a small fee for filing a state return.

    H&R Block

    Many people are much more familiar with H&R Block due to their physical tax preparation locations. However, H&R Block also offers a free tax filing service through their website. While preparing online might not sound like the normal H&R Block, it’s actually a rather streamlined and easy-to-use site.

    Not all types of returns can be prepared on the site for free, however. As with most sites, state returns will still require a fee to be sent in from their site. Additionally, more complex tax returns could include a fee for filing.

    The upside to H&R Block is that if your taxes prove too complex to fill out online, you can go to one of their physical locations. Then, a tax-preparer can get you set up in-person! Keep in mind, however, that using in-person tax preparation won’t be free.

    TurboTax

    As their numerous commercials have proclaimed, TurboTax allows you to file your federal return for free. As you might expect, this doesn’t apply to state returns, which include a small fee. Much like FreeTaxUSA, TurboTax offers a great user interface for inputting all of your tax information.

    You won’t have to worry about forgetting something or getting lost. If you miss a box or need to input more info, the useful client will remind you. You can rest assured with TurboTax that your return will be accurate before you submit it!


  • Get Your Taxes Prepared for Free

    Get Your Taxes Prepared for Free

    It’s that time of year again. Tax time, the time when you need to get out and get your taxes prepared. Maybe you’ve been putting it off, since it can be pricey.

    However, there are a number of ways to get your taxes prepared for free. In fact, you can even get your taxes prepared online for completely free today! Here are some of the best sites to use for free tax preparation.

    Free Tax Preparation

    FreeTaxUSA

    FreeTaxUSA is a user-friendly and well-made site for tax preparation. The site is very straightforward, easily walking you through filing your taxes step-by-step. If you’re worried about your taxes being too complex to fill out online, don’t. This site offers you a very thorough helping hand in getting everything filed easily.

    While the federal return is totally free through this site, filing a state return through this site costs money. On average it costs about $12, so make sure you factor that in when you’re considering your tax filing. Keep in mind that it’s most likely that any tax prep site you use will require a small fee for filing a state return.

    H&R Block

    Many people are much more familiar with H&R Block due to their physical tax preparation locations. However, H&R Block also offers a free tax filing service through their website. While preparing online might not sound like the normal H&R Block, it’s actually a rather streamlined and easy-to-use site.

    Not all types of returns can be prepared on the site for free, however. As with most sites, state returns will still require a fee to be sent in from their site. Additionally, more complex tax returns could include a fee for filing.

    The upside to H&R Block is that if your taxes prove too complex to fill out online, you can go to one of their physical locations. Then, a tax-preparer can get you set up in-person! Keep in mind, however, that using in-person tax preparation won’t be free.

    TurboTax

    As their numerous commercials have proclaimed, TurboTax allows you to file your federal return for free. As you might expect, this doesn’t apply to state returns, which include a small fee. Much like FreeTaxUSA, TurboTax offers a great user interface for inputting all of your tax information.

    You won’t have to worry about forgetting something or getting lost. If you miss a box or need to input more info, the useful client will remind you. You can rest assured with TurboTax that your return will be accurate before you submit it!

  • Best Ways to Spend Your Tax Refund

    Best Ways to Spend Your Tax Refund

    Waiting for that big tax refund to come your way? Certainly, you’re excited to figure out what you want to do with that windfall of cash.

    Well, today we’re looking at some of the best ways to spend your tax refund. From fun splurges to sensible investments, there are a number of options.

    Best Ways to Spend Your Tax Refund

    Savings Account

    Do you have a savings account with $1,000 in it? If not, getting started towards that goal is a good thing to do with your tax money. It’s good to have that kind of emergency fund squirreled away in case of an unexpected expense.

    It can be difficult to answer sudden expenses like car repairs or broken appliances, so having a rainy day fund is important.

    Bills

    It can also be helpful, from a financial wisdom standpoint, to pay ahead some bills. If you own your home, paying ahead on your mortgage is a good idea.  Putting yourself a month ahead on your car payment, electrical bill, car insurance or even your subscription services can all be a good move.

    This not only gives you some space on your finances, but it also feels like you’re not “blowing” your refund.  That said, by paying your bills ahead, you have a bit more spending money for things you want to buy.

    Tattoo

    Many people consider refund season to be tattoo season. Tattoos are exactly the right cost for the average tax refund. Between $300-$700 for the average tattoo means that it’s a great price range for getting new ink. There are a lot of reasons to consider spending your refund on a tattoo if you’re looking to splurge a bit.

    Firstly, tattoos last for your lifetime. That means it’s money well-spent to get a tattoo that means a lot to you on your body. Secondly, it’s easy to overthink what you’re going to spend your refund on.

    Why not get that tattoo you’ve been eyeing for years?

    High-Interest Debts

    High-interest debts are a huge pain. If you’ve got credit card bills or student loans that are compounding interest in the wrong direction, consider paying them down with your tax refund.

    This way, you’re not only lightening your bills, but you’re also buying your future financial security.  There are countless other fun or responsible things you can do with your refund, of course.  However, no matter what you do, just make sure you spend your money in a way you won’t regret. It’s yours, after all!

  • Get Tax Help for Seniors

    Get Tax Help for Seniors

    There’s a reason most people get help filing their taxes: taxes are really, really complicated. Between social security, tax credit, exemptions, deductions, property taxes, there are a ton of complex things to keep up with. It’s no surprise that a number of seniors get intimidated when it comes to filing their taxes. There are changing technologies, changing tax rules, and fixed incomes can all make tax season difficult for seniors. Here are some of the best ways to get tax help for seniors.

    Get Tax Help for Seniors

    AARP Tax-Aide

    Whether or not you already have an AARP membership, or know someone who does, this is a great way to go. The AARP Foundation has tax aide services that can be a lifesaver for seniors. The best part is that you don’t even need to be an AARP member to take advantage of this great service! It’s available for anyone over 50, free of charge. You can meet with these tax professionals free of charge online or in person, whichever you prefer! That way, if you would rather talk face-to-face, or if you prefer to file form the comfort of your home, you’re set either way!

    The volunteers who work for the AARP Tax-Aide program are also IRS-certified tax professionals. These aren’t amateurs who are going to mess up your taxes, these are people who are certified and know what they’re doing! That way, you can rest assured knowing you’re getting the help you need with your taxes and the peace of mind that includes.

    If you go for an in-person session, you’ll be glad to hear that they’re available all throughout tax season, from January to April 15th. Generally, these visits occur in convenient and public locations. Community centers, public libraries, banks and shopping malls are all common locations for these visits, so you need not worry about meeting in person. These locations are in public, well-lit and easy to access, so you don’t have to worry about getting to the meeting location.

    Best of all, the online side of this tax service is available year-round to answer your questions about taxes. If you have any burning questions you need answered and want to be ahead of the curve, this is a great way to go! That’s what happens when you go through an organization as helpful as the AARP.

    Federal Government Tax Assistance

    There are two tax services offered by the IRS. There’s the Volunteer Income Tax Assistance Program and the Tax Counseling for the Elderly Program. If you go through the IRS website, you can find in-depth information on both of these programs. Both the VITA and TCE programs have physical locations throughout the country you can visit to receive direct, in-person help with your taxes.

    Firstly, the VITA is a good program for those seniors who still earn some income, such as through a part-time job or perhaps through owned property. The VITA program typically helps those who do not speak English fluently, disabled people, people under a certain income level and the elderly. These services are primarily geared at seniors who make an amount of money under a certain threshold. Generally, those seniors who make more money than this threshold should consider going with professional paid tax services.

    The TCE, for its part, is geared more for seniors who aren’t sure where to turn for tax help. The service is specifically for seniors of age 60 or older who are on a fixed-income. These types of people are the exact ones that the TCE was created to help. If you or someone you love lives on a fixed income and needs income tax help, the TCE is the right call to help. They help seniors with things like retirement income and pensions, as opposed to traditional income methods. The free service is also volunteer-based and offers help during tax season. The volunteers are all IRS-certified professionals.

    State Taxes

    Both the VITA and TCE programs offer help with state taxes as well as federal taxes, so this usually shouldn’t be a huge concern for seniors. However, beyond this, some states do offer a state-specific tax program to help seniors if they have state-specific tax questions. While such situations would be rare, if a senior needs help with complex aspects of their state taxes in particular then they should look into whether their state offers a tax program.

    In the event it doesn’t, don’t panic! The bar association of your state may provide pro-bono legal help to seniors seeking tax advice. Local CPAs or other professionals may also offer help for seniors at no cost, so consider looking into these avenues!