Intuit Further Simplifies Tax Prep for Millions of TurboTax Customers this Tax Season with Google Cloud AI

But don’t worry, our Moving hub covers everything you need to know about taxes and your relocation. Get unlimited advice, an expert final review, and your maximum refund, guaranteed with TurboTax Live Assisted Basic. Whether you’re looking for IRS announcements, industry updates or new tax laws, stay up to date with the help of TurboTax. Whether you’re getting started or getting serious, here is everything you need to know about taxes and investments. Read on for keeping more of your hard earned dollars at tax time.

• The following TurboTax Online offers may be available for tax year 2024.
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• One of the other data points about the earned income tax credit, that kind of didn’t surprise me.
• You can also file taxes on your own with TurboTax Premium.

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Manage your home and property taxes, and more tips to maximize your refund. Stay up-to-date on open enrollment and health accounts related to taxes. File on your own, with live help, or hand your taxes off to an expert. Big life events come with big questions, especially around taxes.

Here’s what you need to know about filing your taxes early and how it could impact your return. Even if you only work part-time as a blogger and full-time as a salaried employee somewhere else, the blogging part of your income qualifies as self-employment income. As a result, you’ll likely need to pay self-employment tax on that income, which is the combined Social Security and Medicare taxes paid by an employee and an employer. Since you run your own business, you pay both the employee and the employer portions.

One of the other data points about the earned income tax credit, that kind of didn’t surprise me. They turbotax blog say that 1 out of 5 people missed the earned income tax credit. So people that are eligible should definitely make sure that they claim that.

Already, Intuit’s near-decade of deep expertise in AI-driven document understanding with TurboTax enables broad support for tax document import, upload, and photo capture, and auto-fill of a majority of tax returns, minimizing manual data entry. «Google Cloud’s partnership with Intuit showcases the power of AI to solve real-world problems by simplifying the tax preparation process for millions of TurboTax users this tax season,» said Thomas Kurian, CEO of Google Cloud. «With Document AI and Gemini models, TurboTax can extract, categorize, and accurately populate data from the most complex tax forms, making filing more efficient, less error-prone, and ultimately, more accessible for everyone.» ​With TurboTax Live Business, get unlimited expert help while you do your taxes, or let a tax expert file completely for you, start to finish. Get direct access to small business tax experts who are up to date with the latest federal, state and local taxes. Small business owners get access to unlimited, year-round advice and answers at no extra cost, maximize credits and deductions, and a 100% Accurate, Expert Approved guarantee.

• Our self-employed and business tax experts will ensure you get every tax break with 100% accuracy, guaranteed.
• And most importantly, don’t wait until tax season – start planning your small business taxes today and save yourself the stress and headaches later.
• Fantasy sports providers like Draftkings allow you to win big money, but did you know the money you win from your fantasy league is subject to taxes?
• «With Document AI and Gemini models, TurboTax can extract, categorize, and accurately populate data from the most complex tax forms, making filing more efficient, less error-prone, and ultimately, more accessible for everyone.»
• With approximately 100 million customers worldwide using products such as TurboTax, Credit Karma, QuickBooks, and Mailchimp, we believe that everyone should have the opportunity to prosper.

Should You Use Your 401(k) or Retirement to Pay Off Debt?

Our New Child & Dependents hub has all the info you need as a new parent, helping you save money and spend more time with your loved ones. Whether you’re chasing flexibility or turning a hobby into a career, our Business & Side Gig hub has all the tax answers you need to make filing a breeze. Moving is tough, and unfortunately, most moving expenses aren’t deductible anymore.

Blogging is a relatively new profession, but it’s covered by the same tax laws that apply to many other occupations. The main danger from a tax perspective is that, as a self-employed blogger, your taxes won’t be automatically withheld from your earnings, as is typical with traditional employees. Additionally, you’ll owe self-employment taxes that most employees don’t pay.

Why am I’m being charged for TurboTax Live Premium ($ when I didn’t use any Live services?

With approximately 100 million customers worldwide using products such as TurboTax, Credit Karma, QuickBooks, and Mailchimp, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us at Intuit.com and find us on social for the latest information about Intuit and our products and services. The IRS strongly encourages most couples to file joint tax returns by extending several tax breaks to those who file together, however there are instances where it may make sense to file separately. Filing your tax return as early as possible can help you get your refund quicker, but it’s not always necessarily the best option. It could be better to wait to make sure you’re filing an accurate return.

Filing taxes as a small business owner can be a daunting task, but with the right guidance and resources, you can ensure that you are taking advantage of all the deductions and credits available to you. Remember to keep accurate records, stay up-to-date on tax laws and regulations, and seek professional help when needed. And most importantly, don’t wait until tax season – start planning your small business taxes today and save yourself the stress and headaches later. If you have a simple Form 1040 only, you can have earned income tax credit, child tax credit, student loans, and some interest, but no schedules.

Child Tax Benefits: How Parents Can Save on Taxes

It’s happened to many of us at some point—you may be walking along a street and look down. The tax ramifications of finding a $20 bill are negligible. Here’s the breakdown on how the IRS treats found property at tax time. Other things the IRS may consider are the time and activity you put into the business, whether or not you depend on income from it and if you can reasonably expect to make a profit in future years. Be aware that as a blogger, you’re likely to face estimated taxes, something most traditional employees don’t have to worry about. You may be able to take advantage of certain deductions to reduce your tax bill.

The IRS will disallow your tax deductions if your blogging business is categorized as a hobby. To claim your deductions, you’ll need to demonstrate to the IRS that you are running a bona fide business. If you have a profit in at least three of the most recent five tax years, you can usually qualify your business as legitimate. If you fail to earn a profit in at least three of the most recent five tax years, the IRS may categorize your blogging business as a hobby and disallow your tax deductions.

Customers in more than 200 countries and territories turn to Google Cloud as their trusted technology partner. Google Cloud is the new way to the cloud, providing AI, infrastructure, developer, data, security, and collaboration tools built for today and tomorrow. «This tax season, we’re delivering on Intuit’s promise to millions of TurboTax customers to do the hard work for them—so they don’t have to,» said Intuit Chief Technology Officer Alex Balazs. We’re excited to introduce our newest series of TurboTax Community Tax Expert Tutorial Videos. These videos are designed to help you navigate the ins and outs of tax preparation and get the most out of your return. Whether you’re a seasoned taxpayer or filing for the very first time, these videos are a valuable tool to help you maximize your tax savings.

Self-employment tax that is due has to be paid whether or not you owe any federal income tax. Intuit is the global financial technology platform that powers prosperity for the people and communities we serve. Please visit us at Intuit.com and find us on social for the latest information about Intuit and our products and services. About Google CloudGoogle Cloud is the new way to the cloud, providing AI, infrastructure, developer, data, security, and collaboration tools built for today and tomorrow. Google Cloud offers a powerful, fully integrated and optimized AI stack with its own planet-scale infrastructure, custom-built chips, generative AI models and development platform, as well as AI-powered applications, to help organizations transform.

We do not recommend self-correcting or adjusting your entries without CRA approved solutions as you may be subjected to reassessment. Every year, thousands of Intuit TurboTax Live Tax Experts help Americans get their taxes done right and with confidence. They are retirees, stay-at-home parents, veterans, and entrepreneurs. They’re all driven by their passion to help taxpayers achieve financial success through the tax season. About IntuitIntuit is the global financial technology platform that powers prosperity for the people and communities we serve.

Our tutorials on «How to Enter the Clean Vehicle Credit?» and «How to Enter Home Energy Tax Credits?» will help you save money on taxes if you’ve made qualifying energy-efficient improvements to your home or purchased a clean vehicle. Know how much to withhold from your paycheck to get a bigger refund. Claiming dependents can help you save thousands of dollars on your taxes each year.