Filing Your Taxes Online is Fast, Easy and Secure.
Start now and receive your tax refund in as little as 7 days.

1. Get Answers

Your online questions are customized to your unique tax situation.

2. Maximize your Refund

Find tax credits for everything from school tuition to buying a hybri

3. E-File for FREE

E-file free with direct deposit to get your refund in as few as 7 days.

Filing your taxes with paper mail can be difficult and it could take weeks for your refund to arrive. IRS e-file is easy, fast and secure. There is no paperwork going to the IRS so tax refunds can be processed in as little as 7 days with direct deposit. As you prepare your taxes online, you can see your tax refund in real time.

FREE audit support and representation from an enrolled agent – NEW and only from H&R Block

Can I File My 2011 Taxes On Turbotax

2013 Irs 1040ezAmended Us Tax Form 1040xFile 2007 Taxes2013 Amended Tax ReturnFederal Income Tax Forms 2012How To Amend 2012 Tax ReturnTaxslayer Com Login1040ez Form OnlineFree State Tax Filing OnlineHow To Fill Out 1040x FormHelp Filing An Amended Tax ReturnH&r Block Tax OnlineH&r Block Free Return1040 2012 Tax FormTaxact Online 20101040 Ez 2011Free 1040ez FilingBerkheimer Online Tax FilingIrs 2011 Amended Tax ReturnMy Free Taxes.comFree State Taxes FileState Tax Return EfileIrs Amendment Form2011taxesIrs Com Gov1040ez InstructionCan I Still File My 2011 State Taxes1040ez Form 2012Tax Forms 1040ezE-file State Taxes OnlyAmend A 2012 ReturnWww Hrblock ComHow Do I File 2009 Taxes Online2012 Federal Tax Forms 10401040x FilingHow Can I File My 2011 Taxes OnlineTax Return For StudentsTax Form For College Students2012 Ez Tax FormIrs Forms 1040x

Can I File My 2011 Taxes On Turbotax

Can i file my 2011 taxes on turbotax 2. Can i file my 2011 taxes on turbotax   Employees' Pay Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Tests for Deducting PayTest 1—Reasonableness Test 2—For Services Performed Kinds of PayAwards Bonuses Education Expenses Fringe Benefits Loans or Advances Property Reimbursements for Business Expenses Sick and Vacation Pay Introduction You can generally deduct the amount you pay your employees for the services they perform. Can i file my 2011 taxes on turbotax The pay may be in cash, property, or services. Can i file my 2011 taxes on turbotax It may include wages, salaries, bonuses, commissions, or other non-cash compensation such as vacation allowances and fringe benefits. Can i file my 2011 taxes on turbotax For information about deducting employment taxes, see chapter 5. Can i file my 2011 taxes on turbotax You can claim employment credits, such as the following, if you hire individuals who meet certain requirements. Can i file my 2011 taxes on turbotax Empowerment zone employment credit (Form 8844). Can i file my 2011 taxes on turbotax Indian employment credit (Form 8845). Can i file my 2011 taxes on turbotax Work opportunity credit (Form 5884). Can i file my 2011 taxes on turbotax Credit for employer differential wage payments (Form 8932). Can i file my 2011 taxes on turbotax Reduce your deduction for employee wages by the amount of employment credits you claim. Can i file my 2011 taxes on turbotax For more information about these credits, see the form on which the credit is claimed. Can i file my 2011 taxes on turbotax Topics - This chapter discusses: Tests for deducting pay Kinds of pay Useful Items - You may want to see: Publication 15 (Circular E), Employer's Tax Guide 15-A Employer's Supplemental Tax Guide 15-B Employer's Tax Guide to Fringe Benefits See chapter 12 for information about getting publications and forms. Can i file my 2011 taxes on turbotax Tests for Deducting Pay To be deductible, your employees' pay must be an ordinary and necessary business expense and you must pay or incur it. Can i file my 2011 taxes on turbotax These and other requirements that apply to all business expenses are explained in chapter 1. Can i file my 2011 taxes on turbotax In addition, the pay must meet both of the following tests. Can i file my 2011 taxes on turbotax Test 1. Can i file my 2011 taxes on turbotax It must be reasonable. Can i file my 2011 taxes on turbotax Test 2. Can i file my 2011 taxes on turbotax It must be for services performed. Can i file my 2011 taxes on turbotax The form or method of figuring the pay does not affect its deductibility. Can i file my 2011 taxes on turbotax For example, bonuses and commissions based on sales or earnings, and paid under an agreement made before the services were performed, are both deductible. Can i file my 2011 taxes on turbotax Test 1—Reasonableness You must be able to prove that the pay is reasonable. Can i file my 2011 taxes on turbotax Whether the pay is reasonable depends on the circumstances that existed when you contracted for the services, not those that exist when reasonableness is questioned. Can i file my 2011 taxes on turbotax If the pay is excessive, the excess pay is disallowed as a deduction. Can i file my 2011 taxes on turbotax Factors to consider. Can i file my 2011 taxes on turbotax   Determine the reasonableness of pay by the facts and circumstances. Can i file my 2011 taxes on turbotax Generally, reasonable pay is the amount that a similar business would pay for the same or similar services. Can i file my 2011 taxes on turbotax   To determine if pay is reasonable, also consider the following items and any other pertinent facts. Can i file my 2011 taxes on turbotax The duties performed by the employee. Can i file my 2011 taxes on turbotax The volume of business handled. Can i file my 2011 taxes on turbotax The character and amount of responsibility. Can i file my 2011 taxes on turbotax The complexities of your business. Can i file my 2011 taxes on turbotax The amount of time required. Can i file my 2011 taxes on turbotax The cost of living in the locality. Can i file my 2011 taxes on turbotax The ability and achievements of the individual employee performing the service. Can i file my 2011 taxes on turbotax The pay compared with the gross and net income of the business, as well as with distributions to shareholders if the business is a corporation. Can i file my 2011 taxes on turbotax Your policy regarding pay for all your employees. Can i file my 2011 taxes on turbotax The history of pay for each employee. Can i file my 2011 taxes on turbotax Test 2—For Services Performed You must be able to prove the payment was made for services actually performed. Can i file my 2011 taxes on turbotax Employee-shareholder salaries. Can i file my 2011 taxes on turbotax   If a corporation pays an employee who is also a shareholder a salary that is unreasonably high considering the services actually performed, the excessive part of the salary may be treated as a constructive dividend to the employee-shareholder. Can i file my 2011 taxes on turbotax The excessive part of the salary would not be allowed as a salary deduction by the corporation. Can i file my 2011 taxes on turbotax For more information on corporate distributions to shareholders, see Publication 542, Corporations. Can i file my 2011 taxes on turbotax Kinds of Pay Some of the ways you may provide pay to your employees in addition to regular wages or salaries are discussed next. Can i file my 2011 taxes on turbotax For specialized and detailed information on employees' pay and the employment tax treatment of employees' pay, see Publications 15, 15-A, and 15-B. Can i file my 2011 taxes on turbotax Awards You can generally deduct amounts you pay to your employees as awards, whether paid in cash or property. Can i file my 2011 taxes on turbotax If you give property to an employee as an employee achievement award, your deduction may be limited. Can i file my 2011 taxes on turbotax Achievement awards. Can i file my 2011 taxes on turbotax   An achievement award is an item of tangible personal property that meets all the following requirements. Can i file my 2011 taxes on turbotax It is given to an employee for length of service or safety achievement. Can i file my 2011 taxes on turbotax It is awarded as part of a meaningful presentation. Can i file my 2011 taxes on turbotax It is awarded under conditions and circumstances that do not create a significant likelihood of disguised pay. Can i file my 2011 taxes on turbotax Length-of-service award. Can i file my 2011 taxes on turbotax    An award will qualify as a length-of-service award only if either of the following applies. Can i file my 2011 taxes on turbotax The employee receives the award after his or her first 5 years of employment. Can i file my 2011 taxes on turbotax The employee did not receive another length-of-service award (other than one of very small value) during the same year or in any of the prior 4 years. Can i file my 2011 taxes on turbotax Safety achievement award. Can i file my 2011 taxes on turbotax    An award for safety achievement will qualify as an achievement award unless one of the following applies. Can i file my 2011 taxes on turbotax It is given to a manager, administrator, clerical employee, or other professional employee. Can i file my 2011 taxes on turbotax During the tax year, more than 10% of your employees, excluding those listed in (1), have already received a safety achievement award (other than one of very small value). Can i file my 2011 taxes on turbotax Deduction limit. Can i file my 2011 taxes on turbotax   Your deduction for the cost of employee achievement awards given to any one employee during the tax year is limited to the following. Can i file my 2011 taxes on turbotax $400 for awards that are not qualified plan awards. Can i file my 2011 taxes on turbotax $1,600 for all awards, whether or not qualified plan awards. Can i file my 2011 taxes on turbotax   A qualified plan award is an achievement award given as part of an established written plan or program that does not favor highly compensated employees as to eligibility or benefits. Can i file my 2011 taxes on turbotax   A highly compensated employee is an employee who meets either of the following tests. Can i file my 2011 taxes on turbotax The employee was a 5% owner at any time during the year or the preceding year. Can i file my 2011 taxes on turbotax The employee received more than $115,000 in pay for the preceding year. Can i file my 2011 taxes on turbotax You can choose to ignore test (2) if the employee was not also in the top 20% of employees ranked by pay for the preceding year. Can i file my 2011 taxes on turbotax   An award is not a qualified plan award if the average cost of all the employee achievement awards given during the tax year (that would be qualified plan awards except for this limit) is more than $400. Can i file my 2011 taxes on turbotax To figure this average cost, ignore awards of nominal value. Can i file my 2011 taxes on turbotax Deduct achievement awards as a nonwage business expense on your return or business schedule. Can i file my 2011 taxes on turbotax You may not owe employment taxes on the value of some achievement awards you provide to an employee. Can i file my 2011 taxes on turbotax See Publication 15-B. Can i file my 2011 taxes on turbotax Bonuses You can generally deduct a bonus paid to an employee if you intended the bonus as additional pay for services, not as a gift, and the services were performed. Can i file my 2011 taxes on turbotax However, the total bonuses, salaries, and other pay must be reasonable for the services performed. Can i file my 2011 taxes on turbotax If the bonus is paid in property, see Property , later. Can i file my 2011 taxes on turbotax Gifts of nominal value. Can i file my 2011 taxes on turbotax    If, to promote employee goodwill, you distribute food or merchandise of nominal value to your employees at holidays, you can deduct the cost of these items as a nonwage business expense. Can i file my 2011 taxes on turbotax Your deduction for de minimis gifts of food or drink are not subject to the 50% deduction limit that generally applies to meals. Can i file my 2011 taxes on turbotax For more information on this deduction limit, see Meals and lodging , later. Can i file my 2011 taxes on turbotax Education Expenses If you pay or reimburse education expenses for an employee, you can deduct the payments if they are part of a qualified educational assistance program. Can i file my 2011 taxes on turbotax Deduct them on the “Employee benefit programs” or other appropriate line of your tax return. Can i file my 2011 taxes on turbotax For information on educational assistance programs, see Educational Assistance in section 2 of Publication 15-B. Can i file my 2011 taxes on turbotax Fringe Benefits A fringe benefit is a form of pay for the performance of services. Can i file my 2011 taxes on turbotax You can generally deduct the cost of fringe benefits. Can i file my 2011 taxes on turbotax You may be able to exclude all or part of the value of some fringe benefits from your employees' pay. Can i file my 2011 taxes on turbotax You also may not owe employment taxes on the value of the fringe benefits. Can i file my 2011 taxes on turbotax See Table 2-1, Special Rules for Various Types of Fringe Benefits, in Publication 15-B for details. Can i file my 2011 taxes on turbotax Your deduction for the cost of fringe benefits for activities generally considered entertainment, amusement, or recreation, or for a facility used in connection with such an activity (for example, a company aircraft) for certain officers, directors, and more-than-10% shareholders is limited. Can i file my 2011 taxes on turbotax Certain fringe benefits are discussed next. Can i file my 2011 taxes on turbotax See Publication 15-B for more details on these and other fringe benefits. Can i file my 2011 taxes on turbotax Meals and lodging. Can i file my 2011 taxes on turbotax   You can usually deduct the cost of furnishing meals and lodging to your employees. Can i file my 2011 taxes on turbotax Deduct the cost in whatever category the expense falls. Can i file my 2011 taxes on turbotax For example, if you operate a restaurant, deduct the cost of the meals you furnish to employees as part of the cost of goods sold. Can i file my 2011 taxes on turbotax If you operate a nursing home, motel, or rental property, deduct the cost of furnishing lodging to an employee as expenses for utilities, linen service, salaries, depreciation, etc. Can i file my 2011 taxes on turbotax Deduction limit on meals. Can i file my 2011 taxes on turbotax   You can generally deduct only 50% of the cost of furnishing meals to your employees. Can i file my 2011 taxes on turbotax However, you can deduct the full cost of the following meals. Can i file my 2011 taxes on turbotax Meals whose value you include in an employee's wages. Can i file my 2011 taxes on turbotax Meals that qualify as a de minimis fringe benefit as discussed in section 2 of Publication 15-B. Can i file my 2011 taxes on turbotax This generally includes meals you furnish to employees at your place of business if more than half of these employees are provided the meals for your convenience. Can i file my 2011 taxes on turbotax Meals you furnish to your employees at the work site when you operate a restaurant or catering service. Can i file my 2011 taxes on turbotax Meals you furnish to your employees as part of the expense of providing recreational or social activities, such as a company picnic. Can i file my 2011 taxes on turbotax Meals you are required by federal law to furnish to crew members of certain commercial vessels (or would be required to furnish if the vessels were operated at sea). Can i file my 2011 taxes on turbotax This does not include meals you furnish on vessels primarily providing luxury water transportation. Can i file my 2011 taxes on turbotax Meals you furnish on an oil or gas platform or drilling rig located offshore or in Alaska. Can i file my 2011 taxes on turbotax This includes meals you furnish at a support camp that is near and integral to an oil or gas drilling rig located in Alaska. Can i file my 2011 taxes on turbotax Employee benefit programs. Can i file my 2011 taxes on turbotax   Employee benefit programs include the following. Can i file my 2011 taxes on turbotax Accident and health plans. Can i file my 2011 taxes on turbotax Adoption assistance. Can i file my 2011 taxes on turbotax Cafeteria plans. Can i file my 2011 taxes on turbotax Dependent care assistance. Can i file my 2011 taxes on turbotax Education assistance. Can i file my 2011 taxes on turbotax Life insurance coverage. Can i file my 2011 taxes on turbotax Welfare benefit funds. Can i file my 2011 taxes on turbotax   You can generally deduct amounts you spend on employee benefit programs on the applicable line of your tax return. Can i file my 2011 taxes on turbotax For example, if you provide dependent care by operating a dependent care facility for your employees, deduct your costs in whatever categories they fall (utilities, salaries, etc. Can i file my 2011 taxes on turbotax ). Can i file my 2011 taxes on turbotax Life insurance coverage. Can i file my 2011 taxes on turbotax   You cannot deduct the cost of life insurance coverage for you, an employee, or any person with a financial interest in your business, if you are directly or indirectly the beneficiary of the policy. Can i file my 2011 taxes on turbotax See Regulations section 1. Can i file my 2011 taxes on turbotax 264-1 for more information. Can i file my 2011 taxes on turbotax Welfare benefit funds. Can i file my 2011 taxes on turbotax   A welfare benefit fund is a funded plan (or a funded arrangement having the effect of a plan) that provides welfare benefits to your employees, independent contractors, or their beneficiaries. Can i file my 2011 taxes on turbotax Welfare benefits are any benefits other than deferred compensation or transfers of restricted property. Can i file my 2011 taxes on turbotax   Your deduction for contributions to a welfare benefit fund is limited to the fund's qualified cost for the tax year. Can i file my 2011 taxes on turbotax If your contributions to the fund are more than its qualified cost, carry the excess over to the next tax year. Can i file my 2011 taxes on turbotax   Generally, the fund's “qualified cost” is the total of the following amounts, reduced by the after-tax income of the fund. Can i file my 2011 taxes on turbotax The cost you would have been able to deduct using the cash method of accounting if you had paid for the benefits directly. Can i file my 2011 taxes on turbotax The contributions added to a reserve account that are needed to fund claims incurred but not paid as of the end of the year. Can i file my 2011 taxes on turbotax These claims can be for supplemental unemployment benefits, severance pay, or disability, medical, or life insurance benefits. Can i file my 2011 taxes on turbotax   For more information, see sections 419(c) and 419A of the Internal Revenue Code and the related regulations. Can i file my 2011 taxes on turbotax Loans or Advances You generally can deduct as wages an advance you make to an employee for services performed if you do not expect the employee to repay the advance. Can i file my 2011 taxes on turbotax However, if the employee performs no services, treat the amount you advanced as a loan. Can i file my 2011 taxes on turbotax If the employee does not repay the loan, treat it as income to the employee. Can i file my 2011 taxes on turbotax Below-market interest rate loans. Can i file my 2011 taxes on turbotax   On certain loans you make to an employee or shareholder, you are treated as having received interest income and as having paid compensation or dividends equal to that interest. Can i file my 2011 taxes on turbotax See Below-Market Loans in chapter 4. Can i file my 2011 taxes on turbotax Property If you transfer property (including your company's stock) to an employee as payment for services, you can generally deduct it as wages. Can i file my 2011 taxes on turbotax The amount you can deduct is the property's fair market value on the date of the transfer less any amount the employee paid for the property. Can i file my 2011 taxes on turbotax You can claim the deduction only for the tax year in which your employee includes the property's value in income. Can i file my 2011 taxes on turbotax Your employee is deemed to have included the value in income if you report it on Form W-2, Wage and Tax Statement, in a timely manner. Can i file my 2011 taxes on turbotax You treat the deductible amount as received in exchange for the property, and you must recognize any gain or loss realized on the transfer, unless it is the company's stock transferred as payment for services. Can i file my 2011 taxes on turbotax Your gain or loss is the difference between the fair market value of the property and its adjusted basis on the date of transfer. Can i file my 2011 taxes on turbotax These rules also apply to property transferred to an independent contractor for services, generally reported on Form 1099-MISC, Miscellaneous Income. Can i file my 2011 taxes on turbotax Restricted property. Can i file my 2011 taxes on turbotax   If the property you transfer for services is subject to restrictions that affect its value, you generally cannot deduct it and do not report gain or loss until it is substantially vested in the recipient. Can i file my 2011 taxes on turbotax However, if the recipient pays for the property, you must report any gain at the time of the transfer up to the amount paid. Can i file my 2011 taxes on turbotax    “Substantially vested” means the property is not subject to a substantial risk of forfeiture. Can i file my 2011 taxes on turbotax This means that the recipient is not likely to have to give up his or her rights in the property in the future. Can i file my 2011 taxes on turbotax Reimbursements for Business Expenses You can generally deduct the amount you pay or reimburse employees for business expenses incurred for your business. Can i file my 2011 taxes on turbotax However, your deduction may be limited. Can i file my 2011 taxes on turbotax If you make the payment under an accountable plan, deduct it in the category of the expense paid. Can i file my 2011 taxes on turbotax For example, if you pay an employee for travel expenses incurred on your behalf, deduct this payment as a travel expense. Can i file my 2011 taxes on turbotax If you make the payment under a nonaccountable plan, deduct it as wages and include it in the employee's Form W-2. Can i file my 2011 taxes on turbotax See Reimbursement of Travel, Meals, and Entertainment in chapter 11 for more information about deducting reimbursements and an explanation of accountable and nonaccountable plans. Can i file my 2011 taxes on turbotax Sick and Vacation Pay Sick pay. Can i file my 2011 taxes on turbotax   You can deduct amounts you pay to your employees for sickness and injury, including lump-sum amounts, as wages. Can i file my 2011 taxes on turbotax However, your deduction is limited to amounts not compensated by insurance or other means. Can i file my 2011 taxes on turbotax Vacation pay. Can i file my 2011 taxes on turbotax   Vacation pay is an employee benefit. Can i file my 2011 taxes on turbotax It includes amounts paid for unused vacation leave. Can i file my 2011 taxes on turbotax You can deduct vacation pay only in the tax year in which the employee actually receives it. Can i file my 2011 taxes on turbotax This rule applies regardless of whether you use the cash or accrual method of accounting. Can i file my 2011 taxes on turbotax Prev  Up  Next   Home   More Online Publications
Español

A-Z Index of Consumer Organizations

  • A
  • B
  • C
  • D
  • E
  • F
  • G
  • H
  • I
  • J
  • K
  • L
  • M
  • N
  • O
  • P
  • Q
  • R
  • S
  • T
  • U
  • V
  • W
  • X-Z

K

The Can I File My 2011 Taxes On Turbotax

Can i file my 2011 taxes on turbotax Publication 1212 - Additional Material Prev  Up  Next   Home   More Online Publications