Benjamin Franklin once said, “In this world, nothing is certain but death and taxes.” While EFCU can’t eliminate your taxes, we can make help you more easily manage them.  National Tax day (April 15) is just weeks away. Here are a few tips to make your tax season simple and painless:

Your Tax Return’s Best Friend: Turbo Tax

Want a fast, easy, economical way to prepare and file your tax returns for 2009? Now you can access TurboTax Online through efedcu.org! With the Turbo Tax Federal Free or Deluxe Editions, you get:

·          Step-by-step walkthrough of your return

·          Updated information on new tax law changes

·          More than 100 IRS tax forms, schedules, and worksheets, plus state returns

·          No risk – you don’t pay until you are ready to print or e-file your return

·          FREE for qualifying low-income taxpayers.

 

Click here to learn more about Turbo Tax for EFCU Members.

 

 

You Can Go Back in Time! Make 2009 IRA contributions in 2010!

Who says you can’t go back in time… Now is a great time to take advantage of the tax savings associated with IRA contributions. From now until April 15, 2010, you can make contributions to your IRA for the 2009 tax year if you haven’t already deposited the $2,000 maximum. Click here for information about our IRA offerings.

As with any other tax decision, be sure to check with your tax advisor to determine the IRA options that best match your financial needs. For more information, contact our IRA Specialist, (225) 214-6800.

 

Automatically Save Some of Your Tax Return with Form 8888!

Every year, we promise ourselves that this will be the year that we save a portion of our tax return. But, too often we break our promise… now, taxpayers have an easy way to begin their journey towards saving. Using IRS Form 8888, you can direct-deposit tax refunds in up to three accounts, making it easy to save a portion of your refunds. You can spend some on expenses, invest some in a long-term goal and save some for emergency funds or your retirement.

Choosing automatic deposit makes it easy transfer some of your refund into your checking, and the rest into savings, an Individual Retirement Account (IRA), a Health Savings Account (HSA), or Coverdell Education Savings Accounts.

For more information, go to:www.form8888.org or www.IRS.gov.