What Is a Tax Anticipation Loan?

You doubtless mean a refund anticipation loan: frequently called a RAL. Do not do it: if you annualize the interest rate, it comes to well over 100%; sometimes they can be as outrageous as 2600% or even worse. If you are in a bind for money and expecting a large refund, claim one or two exemptions. That way, you are not giving an interest free loan to the government and you have a little extra for the bills every pay period. Do your taxes online. If your return is complex, look up an enrolled agent on the National Association of Enrolled Agents website. Click on "find an enrolled agent". Type in your city, town, State or zip. Enrolled agents are professional and have power of attorney with the IRS. Block has to cease their "business". Firstly, the firm is not to print the SS# of the client on any of the Tax software they send out. Secondly, they are not to advertise "refund anticipation loans". Not only were they never necessary, they are not ethical, the interest rate annualized - especially when you add the fees and figure them in - is outrageous. In addition, it is unwise to do what boiler room unscrupulous preparers do. Their motivation violates IRS ethics, block should not want to be associated with such unconscionable shenanagans. In the case of refund anticipation loans, the motivation is NOT to help the client. The client is seldom informed that he/she may be turned down for the loan due to a government agency seizure or the IRS wanting to examine the return. That means you pay the ERO and bank fees in vain. What they do is USURY and should be illegal. These "emerald" loans are just as unscrupulous as the whole life insurance companies. Instead of being remorseful and ceasing to attempt to bleed the public, they came out with universal life. What a ripoff!! Now, Block with their refund anticipation loans, instead of ceasing such things, have come out with the "emerald loans", or "green emerald loans". They want to trap you in to having no choice but to return to them. That's the same as whole life insurance. I heard more prospective clients tell me "I've put too much in to it. I can not get out". Same scenario. So do not go to Block. Here is a testimonial: "If you got an emerald advance line done from them in December probably yes you are trapped in to returning to that outfit. If you can, do not go to H&R Block this year. My sister got an advance done in December and she paid through the teeth this tax season. She paid almost double what she did in 2006. Also, they are not issuing checks anymore,either. They are giving the early anticipation loans now on a debit card. My advice for you is to go to a local private tax preparer who will probably do the return for under $100. They can e-file the tax return and you wo not have to pay the outrageous fees. So if you did have H&R Block do an advance in December you will have to have them finish the other part of the return for 2007. If you did not then you wo not have to return there." Here's a couple that may be decent: Turbo-tax, Tax-act and may be Tax-brain. I used Tax-act for the first time. It is slow; you have to start over again in the questions if you want to change a business or capital gain/loss entry for example. But it is free so long as you only do the Federal and ignore all the pop-ups for upgrades. Jackson-dimwit is in the business of RAL's also. Also, they do as poorly as H&Ripoff in that they do not dig for deductions for you. Some even feel they work in cohoots with the IRS. Those two aforementioned, as many others, connive to get you in and out in 15 minutes and take your money.

1. Is it true that in California there's a income tax but not a flat tax?

No state has a flat rate income tax. Might want to check their website for further info

2. Tax on Stocks or ETF's

If you receive dividends on an investment, those are taxed

3. Tax return together or separate?

It's almost always better to file a joint return than to file as married filing separately