There’s an App for That: Taxes from Your Phone

We do pretty much everything from our phones these days, turns out, taxes are no different. Accountants and techies are combining forces as new ways develop for those who choose to file from their phone. From an easier way to track and report expenses to hand-held glossaries and customer service, exploring ways to file from your phone will change the way taxes get done.

Tracking Expenses

Deducting expenses is essential for businesses owners or the self-employed. Keeping track of those expenses however can be incredibly cumbersome. Travel, meals, supplies, and mileage really add up and the ability to immediately input … Read more at 2009 Tax.

Little Deductions You May Miss

You need to know what deductions may be possible even when you hire someone else to do your taxes. A quick look over the tax codes on the IRS.gov website will help you determine all of the deductions you need to be considering.

Top Deductions that are Missed

1. Expenses that are NOT reimbursable by the company. Any expenses that are incurred during the tax year and that are considered ordinary and necessary for your industry can be used as a deduction on your taxes (at least a portion).

a. Depreciation on work computers

b. Dues paid to professional societies… Read more at 2009 Tax.

7 Steps To Reduce Your Tax Related Stress

If you have your own business what may haunt you most is the stressful task of filing your tax returns at the end of the year. Every year brings you the harrowing experience of piling up your financial documents and preparing your tax return. It adds to your worries if you have earnings in other countries as well, as you need to file your tax return from those countries as well.

Here are seven gradual steps that will certainly minimize your tax returns related hassles.

1. Maintain your accounts accurately. Buy a … Read more at 2009 Tax.

When Should You File Your Tax Return?

It’s a routine affair for millions of US citizens to get ready every year by collecting their records and receipts for filing their federal income tax returns. Do you know when the first tax season got started? Let us have a look at this peculiar day of “April 15th” and see the reason behind it being selected as the tax day.

In the 1860s, under the presidency of Abraham Lincoln, income tax payments became mandatory. The Congress and the President jointly selected the Commissioner of the Revenue and formulated the federal income … Read more at 2009 Tax.

IRS Free File Is Available To Many

In 2003 the IRS began a program to provide free e-filing options to US citizens that need to file tax returns. The program has been widely successful with over 20 different tax filing programs taking part and over 27 million tax returns filed with the program. Individuals wishing to take advantage of the program can select a tax preparation software package and file their return with the application. Or tax filers can use electronic versions of IRS forms and file directly with the IRS.

Just access the IRS.gov website and select a tax … Read more at 2009 Tax.