Avoiding Tax Return Fees & Penalties

The increasing complexity of tax law each year causes creates unnecessary penalties and tax return fees for countless Americans. Having a basic understand of what the most common fees and penalties are can help raise your awareness in order to prevent them. Below is a list of the most common tax return fees and penalties […]

Year End Tax Planning Tips Follow Up

The year end tax tips I posted last month overlooked a few potential tax planning tips.  Here they are: Itemized Deductions You may be able to save taxes this year and next by applying a bunching strategy to “miscellaneous” itemized deductions, medical expenses and other itemized deductions. Homebuyer Tax Credit Since the last article the $8,000 first […]

W-2 Tax Forms 2009

W-2 tax forms for your 2009 income taxes will be mailed out by your employers within the next month or two.  In my last job we worked closely with many companies sending out tax forms and December and January were extremly busy months as they scrambled to make sure that they had all the correct […]

Home Buyer Tax Credits Are Working??!!

The first time home buyer tax credits in 2009 didn’t really interest us that much since we’ve owned our home for just under ten years now.  However, the latest version of the bill now includes a tax credit through 2010 for homeowners who have lived in the same place for five of the last eight years consecutively. This new […]

Federal Income Tax Withholding Too Low This Year?

Federal income tax withholding tables were adjusted earlier in 2009 due to the “Making Work Pay” tax credit as part of the economic stimulus package.  The reduction of federal income tax withholding was intended to provide a gradual financial benefit to the economy by putting a little more money in your paycheck each month. Federal Income […]

Taxes Are A Necessary Evil In Life

Thanks to Grant Baldwin for this guest post. The author of Reality Check, a book about helping students transition into the real world, Grant is launching a new website, BrokePiggy.com, that answers questions from teenagers about personal finance, savings, and all things money. The only thing I miss about earning an income as a teenager was […]

Tax Deductions – Last Minute Tax Saving Tips

Tax returns are due on April 15th, many people have already filed their taxes but millions of others will be shuffling tax forms, digging out receipts, and searching for last minute tax deductions this weekend.  A recent CBS article lists some ways you can still reduce your taxes due before tax day such as deducting any […]

Filing for a Tax Extension is Easy

If you need to file a tax extension, you can fill out form 4868 from the IRS website to apply for a 6 month extension on filing your taxes.  Remember, the extension allows you more time to file your tax return but it doesn’t extend the date that your taxes are due.  You still need […]

TradeKing Taxes and Trading Report

TradeKing has released the latest edition of their “Intelligence Report” series, this one is called “Taxes and Trading”.  It caught my eye since just yesterday I just published our Investor’s Tax Guide. TradeKing Taxes & Trading Of course I was curious and downloaded the TradeKing report to see how it compared to the information in our […]

Investor’s Tax Guide 2009

Tax season has probably never meant more to taxpayers than it does this year.  As we prepare our 2008 tax returns the government is spending billions of dollars of our tax money in an effort to unfreeze credit markets and stimulate the economy. Stock Market Losses At the same time, many of us saw the […]

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