Tax Archive

Jack Burton asked:




Social Security pays disability benefits to an eligible son or daughter from a parent’s record if the child was disabled before the age of 19. If you are not eligible for disability benefits on your own record and at least one of your parents receives Social Security benefits, you could qualify for disability benefits and Medicare as a Disabled Adult Child (DAC). Here is all you need to know about this category of Social Security disability benefits.

Disabled Adult Child (DAC) is a special category of Social Security designed to help individuals that were disabled prior to entering the workforce. This classification does not mean that you are considered an adult child, simply that you were disabled as a child.

To qualify for DAC benefits you must be able to show that you were disabled prior to the age of 19. Your State will evaluate your disability to determine if you meet the disability requirements for payment. It should be noted that one of your parents must be currently receiving Social Security Disability or Retirement benefits; it may be necessary for you to wait until your parents become eligible to apply. If your one or more of your parents are deceased, you may be eligible on their record. There is an additional requirement that you must be unmarried when applying for DAC benefits.

Once you are qualified for benefits you will receive a payment based on the amount your parent receives. If both your parents are receiving Social Security benefits you will be paid from the parent’s record that is receiving a higher amount; you will typically receive 50% of this parent’s amount. If your parents are deceased the amount is increased to 75% of their amount. To learn more about qualifying for disability benefits from Social Security, visit the website Social Security Laid Bare using the links below.

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Frank W Ellis asked:




In October of 2002, a 3-year partnership agreement between a group of tax software companies including Turbo Tax and the Internal Revenue Service (IRS) was formed. This partnership was formed to provide a free Federal tax filing program for at least 60 percent of American taxpayers. This program is known as the Free File Alliance.

In October of 2005, the IRS and the same group of tax software companies reached a new four year partnership agreement for free filing of taxes online. The new Free File Alliance agreement continues to provide free Federal tax filing to those who have an adjusted gross income (AGI) of $52.000 or less. This amount will vary among the tax software partners.

Why is the Internal Revenue doing this?

The IRS has a goal of 80% of all Federal tax returns to be filed online by the year 2007. Currently over 70 million people are filing their taxes online. The Federal Government believes that electronic tax preparation provides a more accurate way of preparing and filing taxes. The Federal Government also believes that a partnership with existing tax software companies will provide the the best service to taxpayers. The Free File Alliance provides free federal tax filing and preparation at no cost to those who qualify.

If your adjusted gross income is less than $52.000 or, You qualify for the earned income credit (EIC) for tax year 2006, then you qualify for the free Federal tax filing program or, You are an active Military, Reservist, or National Guard member whose gross income (AGI) for 2006 is less than $52.000.

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Frank W Ellis asked:




Because of a partnership between the Internal Revenue Service (IRS) and 19 Free File partners, including Turbo Tax Online, many taxpayers are now eligible for free online income tax filing.

If you qualify, you can use Turbo Tax Online, or any other of the 19 Free File partners, to prepare and file your income tax return online for free. This program is known as the IRS Free File Alliance.

This free tax filing program is designed for lower income taxpayers with simple tax situations and includes IRS and State tax forms and schedules. However, it is not designed for more complex tax situations such as investments, rentals, royalties, farming, foreign earned income, partnerships, s corporations, estates or trusts.

In addition, twenty-one states have also created free file programs based on the Federal free tax filing program. This means you may also qualify to file your State taxes for free with the Freedom Edition tax software.

Free File differs from conventional tax filing in that Free File is an electronic tax program. You must use a computer and have Internet access to use the free tax filing service. Users enter their income tax data online and tax calculations are made by the online tax software. Completed tax returns are then sent to the Internal Revenue Service (IRS) through the efile system.

Using the (IRS) e-file system allows you to get your tax refund back in as little as 10 days. If it ends up that you owe money, you can have it deducted from your bank account on the last day of tax filing season.

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Margaret Tye asked:




Are you concerned about your child attending a public school?

I understand the concern you feel when there are so many adverse reports about standards, bullying, or the risk of drugs. Perhaps you just want your child to have a Christian rather than secular schooling.

But are you equally nervous about whether there are real benefits to homeschooling and worry about the issue of socialization? There is no need to be concerned.

A home schooled child can choose who to be friends with, without the negative effects of socialization such as bullying and teasing.

Friendships formed while homeschooling often have a more positive impact than those formed within a classroom environment.

The one-to-one attention given at home is an obvious benefit. In a home school environment you can give individual attention every day, geared to your child’s ability. Compare that to a traditional classroom where a teacher must deal with thirty or more children.

With the specialized attention children can approach new subjects in greater depth and have the opportunity to ask as many questions as they need to achieve greater understanding of the subject.

It allows them the opportunity to learn about everything, just about anywhere they go.

Different environments are ideal opportunities for learning through home schooling. Outings to the park or beach become field trips showing the child nature and the world. Learning through leisure activities is more enjoyable than sitting in a classroom.

Grocery shopping and preparing the family meals teaches finance, budgeting and cookery.

Most parents instinctively provide these skills, but the parent who is also a home school teacher, is particularly aware of turning every occasion into a learning experience.

Homeschooling is rewarding for both child and parent. It offers the freedom and flexibility that children and parents will love.

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Justin DiMateo asked:




When you have children, you likely hope that you can provide the happiest and healthiest life possible for them. You also likely hope that you will never face a situation where you will be fighting with the other parent of your children over which of you the children will be living with. Unfortunately however, these situations do occur and if it happens to you, you will probably want to be equipped with all of the tools necessary to win the battle.

When you do find yourself fighting with the other parent of your children over which of you the kids will be living with, you might want to look into the option of hiring a child custody attorney. This is likely uncharted territory for you and you are probably feeling overwhelmed and concerned about making the right moves throughout the process. When you hire a legal professional, they will be able to help ease your concerns and answer all of the questions that are likely going through your mind.

A benefit of having a child custody attorney on your side throughout this process is that you will have a professional on your side that specializes in these types of cases. Just know that this legal professional has dedicated their career to these types of cases can make you feel much more confident in your ability to win this custody case. Additionally, you will probably want to have this type of lawyer on your side if the other parent of your children is also planning on hiring a legal professional.

Although you may think that you will be able to handle this case on your own and are confident that the court will see how great of a parent you are and award you full custody, it can take only one bump in the road to set you completely off track from your plan and threaten the success of your case. When you hire a child custody attorney, you can rest easy knowing that they have gone through many of these cases and have the expertise to successfully handle any roadblocks. Because, although you may be the greatest parent in the world, it can take only one curveball from the other parent to take the opinion of the court of your favor.

Another benefit of hiring a child custody attorney is that they will be building up knowledge about your case from the beginning in case any issues arise in the future after this battle has been settled. Unfortunately, the first custody battle that you go through will often not be the last. Many times, one side or the other will not be happy with the ruling of the court and will challenge it down the road. If you have had a legal professional on your side from the beginning, they will quickly be able to dive into the case once again instead of hiring someone new down the road that will take a while to become acquainted with everything that has taken place.

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Elijah James asked:




Is it really that easy to file your taxes online yourself? Many online websites that offer you services do boast about how simple and easy it is. Many Americans do submit their tax returns electronically. That being said can it really be easy to use this method after many years you had gone to someone else and paid them to prepare your taxes for you? Or could it all depend on the type of taxes you are going to file online? So let’s look into the process in how to submit your tax return electronically.

Types of Tax Forms

There is more than one type of tax form. There is the individual tax form for your average tax payer. This form is pretty basic and simple with some know how in mathematics in figuring out gross and net incomes any average American could submit online themselves. Though it can get a bit more complex if you own a home and have children, but you are not alone as the majority of Americans are in this situation. Many of your online tax providers have guidelines and customer support to help you through the filing process. The rest of your forms are Business and Self Employed tax payers, large mid-size Corporation tax payers. Charities and no-profit forms, and lastly efile software developers. Every one of these can be filed online accordingly too. To fill out each form is different though so again the question is asked is it really that easy to do it yourself. It can be if you have a little known how.

Dangers

Electronic filing has pretty much become mandatory in some states. You have no choice BUT to use their programs. The paper filing and mailing is nearly dead. It all depends on the service you use. Some providers may offer products to purchase and you may think you have to in order to do this and that is not the case. Also you need to be careful with the free offers. The IRS says it is only for those who have income of 50,000 or less. Also to file taxes online you are open to hackers and identify theft so check to make sure the provider has top secure line as providers have in their contracts they are not liable for anything if information gets stolen or lost.

The Process

Actually yes it is super easy to field your taxes online. The online forms today are designed for novices and read like a question answer form. As stated before you do get taken step by step through the process and all that is really needed to know is how much you made for the year. Even the more complex forms are like this and still pretty easy. The whole process should take you about an hour or less depending on your tax form.

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Micheal Thomas asked:




Omega 3 fatty acids have been known to provide a lot of health benefits for adults for many years (many heart conditions, mental problems and circulatory health problems can be cured or ameliorated by increasing the amount of omega 3s in one’s diet). However, recent medical studies have shown the importance of providing your children with the proper amount of fatty acids. The human brain is made in large proportion of fats and many mental conditions are due to an improper balance of crucial fats.

These fatty acids are shown to greatly improve the children’s brain activity and mental condition. A recent research has been conducted on two separate groups of small children, aged 9 to 12. The children in the first group had been given both omega 3 and omega 6 fatty acids for a period of over half a year. After just 3 months, the scientists running the research had witnessed significant improvements in the first group of children’s mental condition. Their attention levels, short term memory and reading skills have shown significant improvements, figures which were only to rise in the following months of the research.

Scientists are only yet beginning to understand how these acids improve the brain’s activity, but the benefits of these fats on people’s mental condition have been witnessed since early as the 1950′s. Children at those times were given supplements as a single dose of code liver oil and malt. Besides improving the child’s brain functioning, the omega oils (which are polyunsaturated essential fatty acids) have the significant anti-inflammatory properties, protecting the child’s bones, joints and muscular tonus.

Medics and nutritionists have been recommended increasing the amount of fish in or diets for many years now for the benefit of fish oil in protecting the human body against heart and mental problems. Including a weekly serving of fish can guarantee you that you will be avoiding many medical problems. Increasing the amount of fish in the child’s diet is the more important, because by eating more fish as they are younger, the benefits these fatty acids have will be prolonged in time.

The most efficient way of ensuring your child’s recommended dose of omega fats and vitamins is fish oil supplements, especially cod liver oil. Besides the essential fats, cod liver oil supplements also include Vitamin A and Vitamin D, as well as Vitamin E. However, be sure not to exceed the recommended supplement dosage, as the child may get vitamin overdose. The recommended daily dose of Omega 3 fats is about 400-500mg.

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Shelley Brownfield asked:




Is staying home with your child an outdated notion or a progressive choice for a woman?

The progress of our culture has made allows women the choice to follow their heart on this issue. There is no wrong way to love and care for children, but a strong argument can be made for the benefits of a stay at home mom.

Benefits the Mother

Being able to stay home benefits the mother. After pregnancy staying close to your child allows for healthy bonding and allows for time to heal physically and emotional after the trauma of labor. Most women have a strong desire to capture and hold on to every possible memory as their child grows. A stay at home lifestyle can allow for these things while leaving plenty of time for outlets for a woman’s personal ambition and creativity.

Benefits the Child

When a mom stays at home it benefits the child as well. There is peace and security for the child who knows that mom is always around. Studies have proven that children from stay at home mom families are often times more confident later in life and often perform better in school. Every child deserves the best possible start for their lives.

Benefits Society

Even society as a whole can benefit from the stay at home family structure. It is well established that children coming from families that are committed to their well being have a greater potential for success in life. Every member of society directly benefits when a child graduates into adulthood with strong life skills.

Committed parents are the key to a child’s future success and choosing to stay at home with a child is one powerful method of commitment.

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Jasika Lotaki asked:




For most of the people, income tax preparation is a stressful task, but it is not if you choose to do your taxes online using free tax software program. Just follow the step-by-step instructions and supply the tax related information asked by the software and your task is done!

It’s not surprising that the majority of taxpayers now filing their taxes on their own to the IRS using free e-file preparation software programs. Compare to paper filing taxes, preparing online income tax return is easy and convenient because you have to fill up the forms by using required information and tax data. Tax software programs will help you search through the possible income tax credits and deductions that can suit your situations. What you have to do is to claim for necessary deductions so that there’s no risk of unnecessary audits.

For the purpose of preparing taxes and electronically filing your return for free, there are IRS Free File websites you can use. The IRS has teamed up with many software companies with a view to make tax preparation free or low-cost. You can use Free File program provided by the IRS if your adjusted gross income, which is known as AGI, is less than $56,000 as recorded in 2008. If you explore the internet, you’ll come across tons of online tax preparation services offering tax preparation and e-filing services that you can benefit from.

Once you’ve prepared your income tax return online, you can submit e-file easily to the IRS. The benefit of e-filing tax return is that your information is instantly sent to the IRS in an electronic format. Moreover, the IRS service center does not have to re-type your file if it is in electronic format and this may increase the chances of processing your return file faster. You can get your refunds faster within as few as 10 days by getting your refund directly deposited into your bank account.

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Budda Oliver asked:




Forget the hassle of going to a tax preparation office to file your taxes. Many taxpayers are filing their taxes online using simple tax preparation applications that are safe, secure and can guarantee a quick refund. After you gather your tax documents and W-2 forms, you’re ready to prepare your own return online.

There are many online methods and companies that will allow you to file your tax return online. Choose a tax preparation service that will best fit your needs and allow for a speedy refund. You may want to receive your refund through a direct deposit to your checking or savings account. Many online tax preparation services allow for direct deposit, as well as through traditional check. Some online services will not directly deposit your return unless your refund is greater than $3000. However, there are many that will directly deposit any refund amount. If you would like to have your refund quickly deposited directly into your bank account, make sure the online preparation company provides the service.

You may owe tax money to either the federal or state governments. Online tax preparation services will allow you to pay your taxes either directly from your bank account or through a debit/credit card. Many people have had to deal with hassles and errors that can arise from problems within the postal service. Filing documents online and sending or receiving your money electronically eliminates these problems and will ensure your documents are safe, secure and delivered on time.

The main advantage to filing your taxes online is that you can do it at your own pace, on your own time, and from the comfort of your home. You can begin working on your tax return and your work will be saved as you progress. That means you can stop at any time and for any reason. When you come back to your computer and log back into the online application, your return will be as you left it.

Using an online tax preparation service and filing your taxes electronically means that all math will be computed for you. This significantly improves the accuracy of your return and will allow for the greatest possible tax return. With the automated program that breaks down taxes into a less-confusing and straightforward process, you can be sure that your taxes will cover all necessary deductions.

Online tax preparation services are significantly cheaper that using an accountant to prepare your taxes. Accountants charge by the hour and can sometimes cost more money than your actual return. Online tax services usually charge one flat rate. Some simple returns are even filed for free with some services. Your filing fee may vary, depending on the amount of money you make yearly.

Take the hassle out of filing your taxes by using an online service. The simplicity and the ease of these tax applications have revolutionized how people file their taxes and receive their refund.

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