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Dan Geltrude, Managing Partner at Geltrude & Company, joins TheStreet to share some of the most common mistakes people make on their tax returns.

Common mistakes you make when filing your taxes

⏲ 2:5 👁 22.3M

QnA w/ Zoe

What is line 10100?

⏲ 1 minute 26 seconds 👁 447

Aria's Ask and Answer!

What is line 10100 and 10400 on tax return?

⏲ 1 minute 28 seconds 👁 329

If you're one of the many tax filers out there delaying filing because it's just too overwhelming for you...you're not alone. We caught up with CPA and tax expert with TurboTax Lisa Greene-Lewis for some incentive to help get you out of the procrastination station. For starters, she says get organized by getting all your documents together in one place so you don't leave anything out. Gather documents that report your income and especially don't forget receipts and forms for deductible items like charitable contributions and home mortgage interest. E-file with direct deposit, it's the fastest way to get your tax refund from the IRS and the average tax refund was over $3,000 last year. The IRS will issue most tax refunds within 21 days or less of acceptance with e-file and direct deposit. Be aware of some of the most missed deductions and credits such as the Earned Income Tax Credit (EITC), worth up to $7,430 for families with three kids who qualify. The IRS states one out of five qualifying families miss the credit. Then there's the Other Dependents Credit (ODC) if you have been supporting a boyfriend or girlfriend. Lastly, deductions for student loan interest, since the pause on student loans was lifted last year. If you are delaying filing because you are eligible for the Child Tax Credit and you are hearing about changes, don't delay filing. The IRS commissioner has stated that if the child tax credit is expanded later this year, the IRS will adjust impacted returns, issue any additional credits, and you won't need to do anything extra so there's no need to delay. Greene-Lewis says you can now also enlist the help of a real-life TurboTax expert and it can be more beneficial than you even realize. TurboTax full-service experts can prepare your taxes from start to finish and they won't sign and file your taxes until your return is 100% accurate and you are getting the best possible outcome. TurboTax walks you through all of your deductions and credits you're eligible for, but to help you easily get your taxes done and off your plate, you can get matched with a tax expert who specializes in your unique type of tax situation and can do your taxes from start to finish. If you need even more of an incentive, you can get $100 back instantly at filing when an Intuit TurboTax expert does your taxes with TurboTax full service. To be eligible for this offer, you must file using full service by March 31. For more info head to turbotax.com . Full Service $100 back offer Credit applies only to federal filing fees for TurboTax full service and not returns filed using other TurboTax products or returns filed with Intuit TurboTax Verified Pro. Also excludes TurboTax live full service business. Credit does not apply to State tax filing fees or other additional services. If federal filing fees are less than $100, the remaining credit will be provided via electronic gift card. Intuit reserves the right to modify or terminate this offer at any time for any reason in its sole discretion. Must file by March 31, 2024 at 11:59 pm et.

How to Stop Procrastinating and Take Control of Your Taxes Today

⏲ 2:52 👁 3.3M

Panacea At Zenith

Line 10100 and 10400

⏲ 2 minutes 42 seconds 👁 872

Get Help from Xavier Jackson

Is line 150 the same as 10100?

⏲ 1 minute 28 seconds 👁 51

The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.

IRS Quietly Changes The Rule On How Your Children’s Inheritance Will Be Taxed

⏲ 1:29 👁 24M

AllThingsMonney

What Is A T4 Slip In Canada?

⏲ 2 minutes 47 seconds 👁 15.2K

Make That Change

How to File Taxes in Canada for FREE | Wealthsimple Walkthrough Guide

⏲ 15 minutes 25 seconds 👁 44.6K

If filing your taxes has you feeling overwhelmed, you're not alone. It's not easy to know all the ins and outs and to make sure you're doing them accurately and to your advantage. The latest announcements from the number one ranked, best-selling tax software, with access to live tax experts, Intuit TurboTax may be the solution. Tax complexity is continuing to increase for many taxpayers, and it's becoming more and more important to proactively seek help from an expert. For example, this year, many taxpayers looking for expert help note that they have retirement or rental property income, are filing multi-state taxes, and are newly self-employed. In fact, a recent Intuit Credit Karma survey revealed that many Gen Z filers are creating LLCs for their digital 'side hustles.' Intuit TurboTax Verified Pro, Christine Wang says, '45% of Gen Z consider themselves digital side hustlers. This includes things such as developing branded content on social media, selling goods on Etsy and eBay, and growing paid audiences on platforms such as Substack. So many filers are seeking live support especially with multiple income sources ---it can feel overwhelming.' TurboTax has teamed up with independent, verified pros, to allow tax filers to fully hand their taxes off to a local expert that TurboTax matches based on the filers unique needs, such as Wang, who will get to know them and their tax situation. Tax filers can continue to work with their verified pro throughout the year and next year for their filing needs. And since the verified pros are backed by Intuit TurboTax, accuracy is 100% guaranteed. 'The benefit is that you also build a lasting relationship, either virtually or in person,' says Wang, 'I have so many clients that say they just feel more confident when they have a live person who knows them and their situation and who can take the worry of taxes off their hands.' Wang says, since local in most states, 76% of US tax filers have an Intuit TurboTax Verified Pro within a 45 min drive. This service also benefits tax pros who have the opportunity to grow their own tax business with the support of Intuit, through marketing, accuracy guaranteed software and office efficiencies. If you need more incentive, TurboTax is offering people who file with an Intuit TurboTax Verified Pro before March 31st a $100 gift card. To learn more visit pros.turbotax.intuit.com. TurboTax offers or discounts don't apply to TurboTax verified pro services (other than the $100 offer described above). Your independent tax pro will work with you to set the final price before preparing your return, based on your tax situation.

Real Life Tax Help from the Pros

⏲ 2:23 👁 3M

Bhavin Merchant

T4 Tax Slip: Everything you need to know!

⏲ 8 minutes 45 seconds 👁 29.9K

Navreet Vlogs

How to create CRA account?Step by step Process explained | CRA Account for newcomers

⏲ 8 minutes 24 seconds 👁 5.2K

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