Property Taxes; An Appealing Subject "If you drive a car - I'll tax the street, If you try to sit - I'll tax your seat If you get too cold - I'll tax the heat, If you take a walk - I'll tax your feet" - Tax Man, The Beatles Dear Jan: I don't know if you can help me with this issue but I think that I am in the same position that a lot of new homeowners are. I purchased a home in San Diego, CA earlier in the year. The property (some time ago) was worth $600,000. I got the home for an … [Read more...]
5 Overlooked Tax Deductions!
March 2, 2011 By Leave a Comment
I was asking around and came up with a few tax deductions that might be helpful and that are often overlooked. Were you unemployed in any part of 2010? Save all receipts from your job search some things might be deductable. 1) JOB SEARCH: Did you pay a resume service? Put ads out there advertising yourself? Hire a job search consultant? Bring all receipts to your tax preparer, they may be deductions. 2) GETTING GREEN: I know I talked about it before, but don’t forget the tax … [Read more...]
Tax Tips Roundup
February 26, 2011 By Leave a Comment
Tax season is here and what a joyous time it is! Well - not exactly (not even close!) but we were nice enough to round up some of our tax tips to answer some of your tax questions and make the process a little easier on you, and hopefully help you save a little money as well! Free Tax Preparation 2011 5 Tips to Prepare for Tax Time Forgiven debt could be Taxable Don't forget these tax credits and Deductions Understanding Income Tax Laws - The Basics Best & Worst States for … [Read more...]
Places That Don’t Tax Retirement Income- 6 States to Consider
February 18, 2011 By Leave a Comment
If you are planning on retiring in the next few years, you probably have more than a few concerns about whether you will be able to make your retirement savings last in the current economy. That is, of course, depending on whether or not you were able to keep you hands on any of your savings when the country started realizing that the economy was in a bad way. Many people lost their 401(k) accounts and retirement funds lost a lot of their heft as well. If you are concerned about income taxes … [Read more...]
Free Tax Preparation 2011!
January 21, 2011 By Leave a Comment
Free Tax Preparation Help! What is the most feared and hated annual necessity of every American breathing? My guess would be income tax preparation! I know that just thinking about tax preparation make s me break out into a cold sweat. Not only is it time consuming, but for the average Joe & Jill it is both expensive and anxiety ridden. If you are a tax payer making $58,000 or less then you qualify for the Free File Alliance! The Free File Alliance is a group of tax software … [Read more...]
Five Tips to Prepare for Tax Time!
January 18, 2011 By 1 Comment
As Tax Time approaches Be Prepared: Getting Prepared for Tax Time can be such a hassle so reduce your stress by getting prepared a little at a time in advance. Here are five things you can do before the end of the month to get started. 1. Create a Financial Plan and Monitoring System If you haven't already done so, prepare a financial plan and a budgeting system for monitoring your income, expenses, assets, and liabilities. The information you collect will enable you to start … [Read more...]
Don’t Forget These Tax Credits and Deductions
March 30, 2010 By Leave a Comment
1. $8,000 First Time Home Buyer Credit; You must have house under contract by April 30. To count on your taxes you have to close by April 14th or if you want the money asap, do an ammended return. To count for the next tax year it has to close by June 30. 2. $6,500 Home Buyer Tax Credit for other buyers. Same rules as above but for people who have lived in a home for 5 consecutive years and have purchased a different home. 3. Adoption Credit: Adopt a baby? Get a $12,150 deduction … [Read more...]
Understanding Income Tax Laws – Basic Points
March 29, 2010 By Leave a Comment
No matter what age you are, there is a good chance that you are currently and may always have been a little confused by income tax laws. There’s nothing simple about determining how your income, your marital status, whether or not you have kids, and whether or not you donated to charity all work together to determine how much you actually owe the federal government in taxes. Don’t feel like you are alone if the prospect of filing your federal income taxes has you breaking out in a cold … [Read more...]
Federal Tax Income – How to File
March 29, 2010 By Leave a Comment
There are several parts about becoming a working, adult member of society that are very fun. You get to own things and have your own leases on apartments. You can have lines of credit and even take out a loan to buy a new car without your parents co-signing if you want. You will also probably have your first real job, a starting point for your life’s career. However, there are some aspects of growing up that are less fun, like starting to pay federal income taxes and having a portion of your … [Read more...]
Money Saving Tax Tips for the Disorganized! – Part II
March 23, 2010 By 3 Comments
Saving Time on tax preparation Saves Money - Part II You heard my story, now start saving your documentation in an organized fashion in the same place in your home will also help you more than you know if you are ever audited. 1) Save time: Start today. Yes! As you compile your documentation for a this tax year's filing, keep everything that you gathered in one place so that you have a foundation on which to build for next year.This will save time and anxiety and allow you to … [Read more...]
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