Important Tax Dates To Remember

Don’t forget tax returns only have to be postmarked by those dates, not received.

I can’t wait for my W-2′s- Mama needs a refund!

In January I purchase a special folder with pockets to place all of the receipts that I will need during tax prep time. If I place the receipts in as I go, it will be all together for me at tax time.

My husband has used Tax Act for the past six years to file our taxes. We have not had any problems using it and it helps file our taxes quickly and easily.

I would also add that if you are getting money back, file as soon as you can. If you owe money, I would wait till the last minute–no sense in giving away your money any sooner than you have to

Don’t forget January 15 and April 15 as estimated tax payment due dates as well!

Looks like Jason beat me to the punch with the estimate deadlines. April 15th is also the last day to make a contribution to an IRA and apply it to the prior year. And, even though many people will go on extension, the extended deadline does not apply to the IRA contribution. I would also wait until the 2nd week of February to start calling about W-2s and 1099′s since the mail may be a little slower due to the mass mailings going out. Remember, the tax forms only have to be postmarked by Feb.1, not delivered by that day.

It’s also important at this time of year to re-visit your W-4 and adjust your withholding. If consumers don’t get 0% loans, then the government shouldn’t either.

Now the impatient wait for my dh’s unemployment paperwork & my W2

I’ll have to give Tax Act a try – we’ve used Turbo Tax for the past few years and found it easy to use (but expensive!).

Thanks, I try to remember the important dates but with so many that are important in different areas of finance and life it is hard. The tax changes each year on what you can get back and deduct is confusing too. Good thing we have blogs like this to help us!

I agree with your endorsement of Tax Act. I was tired of paying such high prices for tax software every year and decided to give Tax Act a try last year. I found it to be every bit as good as TurboTax for a fraction of the cost.

It’s worth looking around for discounts on TurboTax Online as well. It’s pretty much guaranteed that your bank, insurance, or big box wholesale club offers a discount for TurboTax online. I’ve used them for the past 5 years and I never pay much (you used to be able to get it for free from some places). Keep your eyes open though, they discounts are usually better earlier in the year and the discount applies to the day you file, not the day you start preparing, but it’s good motivation to finish your taxes early!

If anyone does business with State Farm, you also can use TurboTax Online for free and pay no fees for Basic & Deluxe filings (federal & state included) and the premium offerings are heavily discounted. I’ve been taking advantage of this offer for the past few years and haven’t been disappointed.

Active Duty Military has free tax preparation service on their respective installation. If the line is too long, you are also offered free e-file from HR Block Online. use the militaryonesource.com link to begin.

I shouldn’t tell you all this, but I am an accountant. Unless you have rental property, your own business, or buy and sell a lot of stocks, tax preparation software should be fine.

Thanks for the link to Tax Act Online. I’m always looking for “one more deduction” that I’ve overlooked. You can find me, any night before April 15th, pouring over paperwork…scouring the internet…beads of sweat pouring from my forehead, trying to find another deduction. Owning a small business is difficult enough, without all the tax implications. Ugh. I need an aspirin now. Every year I get this ache in my head. You know, the one where my friend calls to tell me they are remodeling their kitchen with their tax refund and I respond with “Well, should I just mail my check to you then?” It could be worse, we could live in a socialist society…but wait…oh no… Yes, I’ll leave that rant for another post. Sorry, got way off topic. See what tax tips do to my mind? Also, super-duper thanks to the poster who reminded me about the Military tax service. I always forget about that.

Many working parents forget about household employees. If you have a sitter come to your house on a frequent basis or have paid for a lot of help around the birth of a new baby, you may be liable for household income taxes.

Check up on this. You don’t want the fines and penalties for paying late!

Don’t be afraid to adjust your W-4 withholding especially if you have often received large refunds. To figure out how to adjust your W-4. Look at your tax return from the previous year and the amount of income tax paid. If you know your income is going to be relatively stable (as stable as anything can get in this economy), increase your taxes by 10%.

Take that tax amount and divide it by your pay periods. This should be the new amount on your withholdings. This approach will give you a bit of wiggle room so that you shouldn’t owe anything, and much more money in your pocket each pay period.

Just remember if your income increases by more than 10%. Increase your withholding.

I always complete my taxes as soon as possible so I can get my refund faster. Therefore, April 15 is the only day I need to remember!