Rapid Tax

A blog focused on providing informative tax and personal finance information.

Archive for January, 2010

Considering a tax preparer this year?

Friday, January 22nd, 2010

Before you pay someone to do your taxes for you here’s some federal income tax advice to remember before you pull the trigger.

  • Complaints about tax preparers were up 80% in five years. This includes complaints for things like late filing, missing W-2s, base inaccuracies, or completely missing or lost filings. The solution is to get help with your filing from a service like RapidTax. You get 24-hour help if you’ve any questions, and you know for a fact that it was sent in on time.
  • (more…)

MBA Tax Deduction in Sight, Thanks to One Plucky Taxpayer

Wednesday, January 13th, 2010

It’s rare that an individual wins a victory against the IRS.

Rarer still is a landmark victory that could mean thousands in deductions for others.

But that’s exactly the double-feat nurse Lori Singleton-Clarke accomplished, winning a ruling that her nearly $15,000 in business school deductions were legitimate. This judgment makes it easier for other professionals to claim from an MBA tax deduction. (more…)

Health Insurance Tax Deduction: The Debate Rages On

Tuesday, January 12th, 2010

While nationalized healthcare continues to be this young decade’s political event, there are still those of us who, whether self-employed or who work for businesses that don’t offer healthcare, pay for our own healthcare. Here’s some tax tips for we brave souls on the frontier of the healthcare debate. (more…)

2010 IRS Calendar & Deadlines

Wednesday, January 6th, 2010

January 11, 2010

Report tips of $20 or more to employer. Form 4070

January 15, 2010

First day to E-File your 2009 Individual Tax Return.

Individuals: Pay the final installment of your 2009 estimated tax. Use Form 1040-ES.

January 17, 2010

First set of IRS acknowledgments arrive for 2009 Indivual Tax Returns.

February 10, 2010

Report tips of $20 or more to employer. Form 4070

March 10, 2010

Report tips of $20 or more to employer. Form 4070

April 15, 2010

Last day to file on-time: Form 1040, 1040A, or 1040EZ.

Last day to E-file timely extension requests. Form 4868

Pay the first installment of 2010 estimated tax.

Last day to to file and claim a refund for tax year 2006.

May 10, 2010

Report tips of $20 or more to employer. Form 4070

June 10, 2010

Report tips of $20 or more to employer. Form 4070

June 15, 2010

Pay second installment of 2010 estimated tax.

July 12, 2010

Report tips of $20 or more to employer. Form 4070

August 10, 2010

Report tips of $20 or more to employer. Form 4070

September 10, 2010

Report tips of $20 or more to employer. Form 4070

September 15, 2010

Pay third installment of 2010 estimated tax.

October 12, 2010

Report tips of $20 or more to employer. Form 4070

October 15, 2010

Last day to file individual tax return (1040, 1040A, 1040EZ) with extension.

Deadline for 2009 tax year E-File. All returns must be signed and mailed after this date.

November 10, 2010

Report tips of $20 or more to employer. Form 4070

December 10, 2010

Report tips of $20 or more to employer. Form 4070

December 31, 2010

Filing Status/Living Conditions determined on this date for the entire year for the purposes of 2010 individual tax return.