From the category archives:

Taxes

Valuing Donation Items

December 29, 2008

We have put it off until very late in the year, but today our family is rounding up clothing and household items to donate to charity.
Besides helping out with a good cause, the donation will give us a tax deduction.   Note: if your non-cash donation is greater than $500 you will be required to file [...]

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How To File An Extension

April 14, 2008

Times up!  Well, almost.  If you haven’t even started work on your 2007 tax return, it may be time to consider filing an extension.  The good news is that it is fairly simple and will buy you some additional time to get your act together.
The first thing you should know is that by filing [...]

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Details On Economic Stimulus Payments

April 14, 2008

A short note went out to financial institutions from the Federal Reserve on Friday. It contained details of how, and when, economic stimulus payments will be delivered.
Here are some highlights:
The Department of the Treasury, Financial Management Service (FMS) will begin issuing approximately 130 million Economic Stimulus Payments on behalf of the Internal Revenue Service [...]

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Get Your Taxes Filed With This Seven Day Plan

April 7, 2008

It’s crunch time!
You have nine days left (coounting today) to get your 2007 taxes filed. It can definitely be hard to get started, but you don’t want to be staying up until midnight on the 15th trying to make the deadline.
Bankrate.com has a great 7-day plan to get you taxes filed on time, without [...]

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Do We Have To Pay Back The Tax Rebate?

February 11, 2008

Do We Have To Pay Back The Tax Rebate?
Short Answer: NO.
I have read a lot of misleading stories on the rebate portion of the Stimulus Bill.  For instance, Liz Pulliam Weston, writing in MSN Money writes:
To produce this cash, Congress created a one-time tax credit to reduce taxable income for most taxpayers this year.
Normally, [...]

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Details on Final Stimulus Bill

February 8, 2008

The House and Senate passed the final version of the stimulus bill only three weeks after President Bush’s initial proposal.
The final plan will cost an estimated $168 billion versus the $150 billion cost of the House plan.   The Senate plan included rebates for senior citizens and disabled veterans. 
Here’s the final breakdown:

Most single filers will [...]

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Latest News On The Stimulus Bill

February 7, 2008

UPDATE: The House and Senate have passed the final version of the Stimulus Bill. You can read the details in this post:

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Stimulus Bill Likely To Be Unchanged By Senate

February 1, 2008

UPDATE: The House and Senate have passed the final version of the Stimulus Bill. You can read the details in this post:

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Details of Proposed Economic Stimulus Bill

January 24, 2008

Photo: Susan Walsh, AP
UPDATE: The House and Senate have passed the final version of the Stimulus Bill. You can read the details in this post: Details on Final Stimulus Bill.
Congress and President Bush appear to have made a final agreement on the contents of the forthcoming economic stimulus bill.
Highlights:

Tax rebates of at least $300 [...]

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Earn Smarter, Not Harder

January 18, 2008

We’ve all heard the old adage “Work smarter, not harder”. This means that if you plan and think about the best way to do a job, you will save huge amounts of time and effort.
I would like to propose that you should also apply similar thinking to your income. You should “Earn smarter, [...]

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