Tax Help: Video Series

Tax preparation software is usually not deductible unless the person filing their taxes decides to itemize their deductions. Find out how to compare the adjusted gross income with tax preparation fees with information from an independent CPA in this free video on tax preparation software.

Tax preparation centers are places that help people take all of their information from their tax forms to calculate how much they owe the IRS, or how much of a refund is due. Learn about the differences between non-profit tax preparation centers and profitable preparation centers with information from an independent CPA in this free video on tax preparation centers.

When making federal budget estimates, it's important to know that the IRS requires individuals and corporations to pay taxes on income that isn't otherwise subject to withholding every quarter. Find out when a person needs to consider making estimated tax payments with information from an independent CPA in this free video on federal tax payments.

When buying or selling a business, dealing with taxes depends on the types of assets that are being purchased and the types of contrasts that are being created. Discover a few scenarios that involve double taxation with information from an independent CPA in this free video on tax help when buying or selling a business.

A corporate tax credit is a deduction to a corporation's tax liability, and they are usually used to promote social or economic policies. Learn about credits for creating jobs or providing low-income housing with information from an independent CPA in this free video on corporate tax credits.

In order to calculate estate tax deduction, it's necessary to get the IRS form 706, as this return is used for executors of decedents estates. Find out about possible deductions, such as expenses of the estate, mortgages and debt, with information from an independent CPA in this free video on estate tax deductions.

The IRS W-4 form is this form that is typically filled out when a person first starts a job, and this form is intended to inform an employer of the salary portion that will be withheld and remitted to the IRS. Discover how withholding less than 90 percent of taxes owed can make a person subject to penalties with information from an independent CPA in this free video on tax help and W-4 forms.

Property taxes are taxes assessed on real property, real estate and the improvements made on land, such as the addition of buildings. Learn how property taxes are expressed as a percentage of the appraised value with information from an independent CPA in this free video on property taxes.

IRS form 3868 is the application for an extension of time for an individual to file their federal tax returns. Find out why it's necessary to have a good idea of what taxes are due when submitting the form 3868 with information from an independent CPA in this free video on tax help.

When looking at the instructions for tax return form 1040, there are charts that will indicate who needs to file a return based on their filing status, age and gross income. Discover additional circumstances, such as selling a home, that may require a person to file a return with information from an independent CPA in this free video on filing tax returns.

Unclaimed IRS funds are usually a result of unreported changes of address, changes of marital status or death. Contact the IRS to find out more about unclaimed funds with information from an independent CPA in this free video on tax help and unclaimed IRS funds.

FSA accounts, or flexible spending accounts, are set up for employees to have certain amounts deducted from their pay on a tax-preferred basis. Discover why expenses used for FSA accounts must be used for specific medical conditions with information from an independent CPA in this free video on IRS rules and regulations.

When a person doesn't file their tax return, the IRS will not pursue criminal prosecution if the individual voluntarily files, or makes arrangements to file, before they are informed of criminal prosecution. Learn about penalties of interest that are calculated on the amount of taxes that are due with information from an independent CPA in this free video on filing tax returns.

When people refer to tax brackets, they are usually referring to marginal tax rates, which are the tax rates at which the last dollar of an individual's taxable income is taxed. Find out why the effective tax rate is lower than the marginal tax rate with information from an independent CPA in this free video on tax brackets.

In taxes, 1099 forms are information returns that come in a number of variations, including the 1099INT for interest from banks, and the 1099DIV for dividends received on stocks or mutual funds. Learn about the 1099MSA used for medical savings accounts with information from an independent CPA in this free video on tax help and IRS forms.

The IRS form 1099-MISC is an information return that essentially reports payments that are not otherwise reported on any other IRS form. Discover why the types of income reported on the 1099-MISC must be from business income with information from an independent CPA in this free video on tax help.

If a state has income tax, a resident will typically modify the numbers that have been submitted on their federal return to adjust for rules specific to the state. Learn about deductions on Schedule A if a person itemizes their deductions with information from an independent CPA in this free video on state and local taxes.

Chapter 7 bankruptcy is the most common form of bankruptcy that is filed for in the U.S., and its primary purpose is to give individual debtors a fresh start by discharging debts. Discover how individuals get to choose to keep certain exempt property under Chapter 7 with information from an independent CPA in this free video on Chapter 7 bankruptcy.

There are many ways to reduce federal tax liability, including child care credit and earned income credit, which can be explained with federal tax preparation software. Find out how to reduce federal tax liability by taking advantage of 401k plans or flexible spending accounts with information from an independent CPA in this free video on federal income tax.

Tax relief provisions can include increasing deductions that are available to affected taxpayers, and they may relax other requirements. Learn about the relationship of tax relief provisions to natural disasters with information from an independent CPA in this free video on tax relief provisions.

When filing an offer in compromise, there are a few qualifications that have to be met, such as exhausting all other payment options and not being a debtor in bankruptcy proceedings. Learn about the three categories of offers in compromise with information from an independent CPA in this free video on tax help and IRS rules.

The purpose of state income tax is to provide the state with a revenue stream to use for public education, health and human services, and correctional or rehabilitation services. Discover how state income taxes help to provide people with health insurance with information from an independent CPA in this free video on state income tax.

A FICO score is used interchangeably with the term "credit score," and it is calculated by placing different weights that add up to 100 percent in different categories, including payment history. Find out how FICO scores are used by banks to determine if they want to give somebody credit with information from an independent CPA in this free video on FICO scores.

There are many free tax preparation software programs, including TurboTax, and these programs take into account how complicated an individual's taxes may be. Discover why someone should prepare to pay a fee for state taxes with information from an independent CPA in this free video on filing taxes for free.

The penalties for not filing taxes include a late filing penalty and a late payment penalty, both of which can cost up to 25 percent of unpaid taxes per month. Learn about exceptions to tax penalties, such as losing tax records in a natural disaster, with information from an independent CPA in this free video on filing taxes.