November 22, 2020

Turbotax Calculator 2021

Turbotax Calculator 2021 hey what's going on guys if you're watching this video then you probably want to know what is the best time for you to file your taxes in 2020. For the 2019 tax year and you come to the right place because we are going to talk about, the exact best time for you to file but first I think it's really important to talk about two different tax dates the very first tax date, is the earliest time that you can file with, the IRS and for 2020 the earliest date that you can file was recently announced by the IRS and it. Is Monday January 27th 2020 so that is the earliest date that the IRS says that they're going to be accepting electronic filings but this is important because you can actually. Prepare your taxes to be filed. Using an online software such as TurboTax which is what I already did and then you can have it filed on the date when the IRS starts accepting so the software can actually send it.

In when the date opens but you can have it prepared beforehand and it's really easy with an online software like TurboTax because they take, all the information from last year and basically all you need to change. This year is the number is really so that's what I'm gonna do and then when.

January 27th comes around it's going to send it to the IRS. Automatically and then I don't have to worry about it for the rest of the year okay so Monday January 27 2020 is the earliest you can file your taxes the.

Next important day to talk about is the deadline for filing your taxes, and the deadline for filing your taxes in 2020 it's pretty much the same day it is every year and it is April 15 2020 and. That happens to fall on a Wednesday this year so April 15th is the deadline for filing your taxes without an extension you could, technically file your taxes after April 15th with.

An extension up to October 15th 2020 but you will need to get an extension approved and you will usually have to have special circumstances in. Order to qualify for an extension if you do not get an extension approved and you follow your taxes, after the deadline of April 15 then you could face some penalties and no one wants to ever face any penalties, especially from the IRS okay now that we've talked about those two really important dates let's get to the meat and potatoes let's talk. About when the best day for you to file your taxes and the answer to that is you should file your, taxes in 2020 as early as you can there is no specific. Date as early as you can because we're all going to need different tax documents to file our taxes some of us are going to have to wait a little bit longer, than others depending on how complex our tax filing is if you're only waiting on one w-2 from your employer, and you get that really early if. You're lucky then it can be simple and you can just file your taxes maybe on the first day of January 27th but if you're. Waiting for multiple different documents say one from your bank for the interest that you've earned one from your broker for the dividends and capital gains that you've earned this. Year or any other tax documents then the, more tax documents that you're waiting on more likely the longer you're gonna have.

To wait before you can file but it's important that you still file as soon as you get all of those tax documents in order and what I like to do is I like to. Create a small checklist of all the tax documents. That I need in order to file my taxes that year and then once I receive those tax documents I save them electronically or. You can save them the paper however you like to do it and then you can just check off what you. Got and what you're still looking for and then once you get that last document then you can go in and. You can file your taxes all at once.

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