File Taxes from home with TurboTax
I don't know about you guys, but these past 4 months in quarantine/working from home has gone by so fast which is crazy because at the same time I feel like it's been Groundhogs Day everyday. I was so wrapped up with my family and work that I wasn't ready to file my taxes in April, thank goodness we were given some extra time. However, the tax deadline is quickly approaching (July 15th), if you haven't filed yet don't worry you can do so from the comfort of your home with TurboTax. You can get help in the language of your choice by connecting with a bilingual TurboTax Live Expert via a one-way video call.
Here's a few more reminders from the TurboTax team to help you save on your taxes and to help you file on time.
E-file with Direct Deposit.
Last tax season about 72% of tax filers received a tax refund, and the average direct deposit tax refund was close to $3,000! The IRS states that it will issue nine out of 10 tax refunds within 21 days or less when you e-file with direct deposit.
Frequently overlooked tax deductions.
Several tax deductions are frequently overlooked and can lower your taxable income and you don’t need to itemize your deductions to claim them. Some of the frequently overlooked deductions include: student loan interest deduction, teachers educator deduction for school supplies purchased up to $250, and deductible portion of your IRA contributions.
Yes, you still may be able to itemize!:
Although TurboTax estimated and the IRS data confirmed that about 90% of taxpayers will now take the standard deduction instead of itemizing due to tax reform, gathering a few additional receipts for tax-deductible expenses may push you over the standard deduction and lower your tax liability. Review these items for a potential tax benefit:
Previous state tax liability paid
Charitable contributions – pro tip: TurboTax ItsDeductible will help you track and accurately value your donated items.
Points paid to purchase a new home or refinance an existing home
Honestly, filing with TurboTax is so simple and doesn't take a long time. The product guides you step by step with simple questions, and you can just snap a quick picture of your W2/1099 form which automatically uploads your information.
Head to TurboTax to file your taxes before July 15th and stay safe at home.