Should I use Turbo Tax to prepare my taxes. I am preparing for my wife and I amd we bought a home in 2007?
Answers: I'm a CPA, and I'll tell you what... if you are comfortable doing your own taxes, and comfortable with Turbotax et al.., then you may want to consider one of the sponsored Tax services promoted by the IRS... usually free, very sophisticated, includes eFile, direct deposit... save the $60 you would pay for Turbo Tax and just do this online. The tax service even remembers the information you provided from last year and will carry that forward for even greater convenience...
Good Luck!
my choice would be turbo
Tax pen. for paying 110000 mortage.am retired wife works.income is 55000a year. savings 410000?
Answers: by your figures - expect an IRS audit soon!
tax penalty for paying 110000 - you don't get penalized for paying off your mortage early. but- if you sold a house - that would happen!
and the question was. what again?
You paid $110,000 in mortgage this year? and only made $55,000?
and if you have $410,000 in savings, why are you paying on a mortgage? seems like a complete waste of money to me.
You need to phrase your question in the form of a question.
Can I count the money I compensated to the church for Pre-K as a charitable contribution on my taxes?
Last year, my son was within a Pre-K program at a church. All of the tuition checks are made out to the church, which is a non-profit organization. So, can I count the tuition I rewarded as a charitable contribution on my income taxes?Answers: You may be able to treat it as child concern expense and take child meticulousness credit on Form 2441.
The tuition cannot be used as either a charitable contributition or an pedagogic deduction/credit.
For Pre-K, however, private school tuition is considered hours of daylight care expense for the purposes of the Child & Dependent Care Credit. For kindergarten and above to be precise not the case.