eSmart Tax Blogs

Tips For Taxpayers with Education Expenses

Education has often been seen as an investment for long-term benefits such as the ability to secure a lucrative career, advancement in society, and the means by which to gain a valuable skill-set. Additionally, education can also help people save on their taxes every year, at least in terms of money spent on higher education.


Posted To: The Daily Deduction
By: Lauryn on 1/13/2014 10:24:49 AM

Weekly Tax Inventory - 1-10-2014

This week in tax news: Identity theft increased in 2013, tax reform unlikely to be addressed by Congress, Obama's tax incentives, and more.

Posted To: The Daily Deduction
By: Lauryn on 1/10/2014 02:17:37 PM

Moving Forward: Healthcare Reform and Your Taxes

From the beginning, the proposed changes to insurance and the initial release of the Affordable Care Act have been hotly contested. There have been several changes to healthcare reform and taxes. Keeping abreast of changes, updates, and how they affect consumer taxes can get overwhelming but the healthcare reform and its affects can be understood with a little information.

Posted To: The Daily Deduction
By: Lauryn on 1/9/2014 11:05:13 AM

Referesher: The Affordable Care Act

The Affordable Care Act, endearingly known throughout the media and politics as Obamacare, was designed to increase the quality, availability and affordability of health insurance for all Americans. By expanding Medicaid eligibility and creating state-based insurance exchanges where individuals and small businesses can purchase health insurance plans, the Affordable Care Act could put consumers in charge of their own health care.

Posted To: The Daily Deduction
By: Lauryn on 1/8/2014 11:29:12 AM

The New eSmart Tax Experience: A Sleek, Refreshing Appeal

Since eSmart Tax’s beginnings in 2006, we’ve made great strides to change the way you prepare your taxes online.  Today, we released a shiny, sleek, and clean new system to enhance your tax experience.  We’ve listened to your feedback, comments, and questions and developed our brand new interface around your needs.  The new eSmart Tax is our way of bridging the gap between boring tax requirements and the features that you value in a web-based application. 

Posted To: The Daily Deduction
By: Lauryn on 1/3/2014 02:28:19 PM

Your Charitable Donations Help Your Community and You!-

As we approach the twilight of another year, it is most appropriate to consider increasing charitable donations to your favorite non-profit, church, or synagogue.

You can use your Required Minimum Distribution (RMD) to make a charitable contribution.  Contact the custodian who holds your IRA/401K monies (generally this will be a bank, or brokerage) and ask them to do the paperwork on this.  You'll need to get the Employer's Identification Number (EIN) from the charity and give that to your banker or broker.  If this transaction is done by transferring from the institution to the church/non-profit, then you will not have to declare this money as income for 2013.  Remember, you must not take the money out yourself and "touch" it - then, it would be income to you!  (By the way, this tax benefit is slated to expire on 12/31/2013, so don't count on it continuing for 2014!)

Posted To: The Greenhornet Blog
By: The Greenhornet Blog on 12/24/2013 06:05:00 AM

End-Of-Year Tax Moves to Save You Money

Due to the Affordable Care Act, there are some 20 new taxes that may affect you. Therefore, if you are a high-earner (over $200K if single or head of household or qualifying widow, $250K if married filing jointly, and $125K if married filing separately), you may owe additional Medicare taxes on your 2013 income.  The additional taxes would be .9% on your wages and self-employment income that exceeds the above limits. 

Posted To: The Greenhornet Blog
By: The Greenhornet Blog on 12/23/2013 03:05:00 PM

After-Holiday Expense Relief

Now that the last of the tree ornaments have been tucked away into the garage, it's time to think about ways to get back on track with your expenses. Experiencing some after-holiday relief not only means taking a break from sweets and other baked goods.  It may mean a slight makeover of your budget and lifestyle choices.  While it may take some time to get back into more conscientious spending and enjoy your after holiday relief, it can be a smoother transition into the new year with some helpful tips:

Posted To: The Daily Deduction
By: Lauryn on 1/2/2014 12:10:00 PM

Money-Saving Resolutions for The New Year

While the holidays are time for family and good cheer, they also often are a time for over indulgence and poor spending. The new year is a time to wipe the slate clean and rededicate yourself to better spending habits. This New Year's Eve, make the resolution to make these simple changes to increase savings accounts and cut back on non-essentials.

Posted To: The Daily Deduction
By: Lauryn on 1/2/2014 02:32:03 PM

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