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Tax time is something that some people look forward to, and others dread. For many there may be a refund of some kind, and for others there is a bill. No matter, it is always great to wonder what you can do with that nice refund or maybe how much more you earned last year. With the new ACA law being in effect, making sure we are in compliance is important and easy with TurboTax.
48% of Americans do not realize there are required by law to report their or their families health insurance status for this upcoming tax filing season. Check out TurboTax Health and make sure you will have no problems when it comes to following the healthcare law this tax year. Check out these easy to view tools about understanding health care and what it means on your taxes. File for free now till February 16 for simple returns (1040A/EZ).
We have been users of Turbo tax for the last decade and have always had the right help, and ease to file our taxes on-time and correctly. Being employed, TurboTax is great, just input your data or even import your W2 from your employer. Being a small business, TurboTax lets us go through each item and itemize accurately and easily. And what is also great is that I can add in all my expenses and different forms of income and their sources, and save it for later. Tax time is no joke, but TurboTax can help navigate through it fairly easy on your own time. Lets just say our system may be unorthodox at times, but works out with TurboTax. I have a bucket of labeled receipts and my checks, 1099’s, internet, interest forms, and whatever else there is there, lets just say its a time consuming process and require breaks.
For us it’s coming out that our taxes will result with a bill this year, but that is also because we grew as a small business. With more incoming money, came more expenses and bills. And keeping track of it all can be quite the job for people who not exactly the best with records or math. Luckily we are able to manage taking care of our taxes for now, thanks to TurboTax.
While things always change every year with the tax code, this year has a major change that will change the whole method for filing in general. While typical taxes will be filed as normal, there will be an additional requirement for every American to comply with that being the Affordable Healthcare Act. There are exemptions and dealing with it will be as simple as answering some questions and providing a form such as in our case thanks to TurboTax. For those with insurance through your work, it will be as easy as checking a box!
TurboTax Health works for everyone to make sure they comply with this health care tax law including insured filers, uninsured filers, applicants through healthcare.gov, and those like us who purchased health insurance through our state marketplace.
File now through February 16th for free filing of your Federal AND State returns (1040A/EZ). And with the instant electronic filing, you can get that refund if owed quickly.