“This post is part of a social shopper marketing insight campaign with Pollinate Media Group® and TurboTax, but all my opinions are my own. #pmedia #TurboTaxACA http://my-disclosur.es/OBsstV “
What does tax season make you feel ladies? Are you in the majority who dreads the time
frame between January, and April? Do you put off filing your taxes, procrastinating as long as you can?
I totally hear you as tax filing day doesn’t exactly remind me of a big chocolate cake, and a mug of hot tea? ( what can I say those are the things that make me giddy 🙂 ) I want to share with you today a tool that makes tax filing feel like a breeze. It is so easy to use, and oh very convenient. The name of my hero for this time of year is TurboTax.
We’ve been using TurboTax for a while now to file our family’s taxes. This year I did something brave, and took on the responsibility of doing our taxes by myself. I may have mentioned that my hubby is a CPA, and works in finance. Seriously I don’t know what came over me.
Every year since we got married he does our taxes while I watch him, usually with a big bowl of popcorn on my lap, and a mystery book open next to me. I glance from the book to the screen randomly LOL. 2015 would be the year I prove I didn’t skip my accounting classes at graduate school. Not only that, but I would also have to educate myself about the new requirements on tax filing which includes reporting your insurance stats. Thankfully TurboTax made me look good. Very good!
First let’s take a look at the new requirement of this year’s tax filing. The Affordable Care Act (ACA) requires all Americans to have health insurance in 2014, otherwise you pay a penalty. In short, this year, you have to report your insurance stats. Health insurance open enrollment ends on Sunday, February 15. This is the last chance you’ll have to purchase insurance to avoid a penalty on your taxes next year.
TurboTax Health, and the tools it provides clarifies any confusion there may be surrounding this change. As you can see on my screen above, you get to choose your insurance situation. For instance if you get insurance from work you just check a box, and you are all done.
You can also watch these videos depending on your insurance situation to learn more:
Here is the actual screenshot of how you choose your insurance situation.
This is how my insurance information would show.
Here is a quick tutorial of what else you can expect from TurboTax! First of all a huge bonus for those of you who are filing simple tax returns ( 1040EZ/104A) TurboTax has a Federal Edition that is completely free. This is only through February 16th so make sure you act fast to take advantage of this great offer.
TurboTax walks you through each step of the process. You start with the above screen, and choose how you did your taxes last year.
It’s super easy to set up your account, and having an existing account helps to maximize your refund. You wouldn’t need to re-enter the basic info.
Here is what TurboTax does next. Gathering all the information needed to make sure you get your biggest refund possible so you can start dreaming how you’ll use the $. A new handbag, a family trip, a new vacuum cleaner, or ultimate girls day at the spa? Possibilities are endless. 🙂
As you can see above, you can find answers to any questions you may have regarding the tax filing process. After you answer all the questions asked of you, based on your unique life, you are guided through entering your tax info. TurboTax submits the return, and email you when your return is accepted. No more dreading tax filing, just the exciting anticipation of your tax return. <3 Totally recommend this super helpful service!!
Some Blogger Specific Tips
If you are a blogger, and have an income from your blog you need to keep a couple things in mind that I quickly want to touch on. I am not a tax expert, these are tips I learned researching. Always consult a tax expert for specific information.
- You need to keep track of all your expenses. It’s best to be organized as you’ll likely have various blog related expenses you can write off such as hosting fees, domain name registration fee, blog design, office ( needs to be a separate room), your computer ( may need to factor in depreciation), and internet connection.
- Hold onto your receipts paper or virtual. Your expenses will likely be scrutinized so make sure you keep the proof. Also keep in mind that outfits, fashion items, and accessories are not recognized as necessities so you can’t show those as expenses. 🙂
- Don’t forget to claim any free item/gift you may have received in place of compensation.
How do you file your taxes? Have you ever used TurboTax? What do you plan to spend your tax return on? Can’t wait to hear your tax season anecdotes.
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Have a fab Friday my dear ladies! Hope it’s a great one!! XOXO,
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