Apr
16
File Your Taxes Online For Free
April 16, 2008 | 3 Comments
You may qualify to file your taxes online for free. As long as your income doesn’t exceed the limit you can file your taxes online without a fee or charges of any kind. This is especially useful for people that are only filing their taxes to get the stimulus payment.
If your adjusted gross income was $54,000 or less in 2007, you can file online for free. The IRS calls this program “Free File.” The IRS …
Apr
15
Taxes Not Done? File an Extension
April 15, 2008 | 3 Comments
Your taxes are due every year on April 15th. Do you have your taxes done? There are many reasons you may not have your taxes filed by the deadline. If you’re not finished with your taxes, make sure you file an extension with the IRS.
Why Should You File an Extension?
If your taxes aren’t finished by April 15th (or the end of your fiscal year), you may face a penalty.
I’m …
Feb
17
Death and Taxes
February 17, 2008 | Leave a Comment
… brings glee to those “in the cart*.” Those of that that produce something will have to pay taxes. Those of us who simply exist off the system will get child tax credits and the like, basically welfare embedded in the tax system.
You may think I sound a little bitter, and I will admit this time of year puts me in a bad mood as I Uncle Sam pries through your personal life looking for each last cent. However, as a pragmatist, I understand that taxes, like death, are something that is …
May
29
Where Is My Stimulus Payment?
May 29, 2008 | 105 Comments
… paper checks.
Did you pay in this year?
If you owed the IRS money when you filed your taxes you will probably get a paper check. If your tax preparation software allowed you to enter your direct deposit information to receive the stimulus payment by direct deposit, you MAY receive your payment via direct deposit.
Did you file a tax return this year (for 2007)
You must file a tax return to qualify for the stimulus payment. It's not too late to file. You have until …
Comment by DXL: … her job/and FED. taxes?
May
22
It's Not Too Late to Qualify for the Stimulus Payment
May 22, 2008 | 5 Comments
… is good news for those don't normally file a tax return or may have made a mistake on their taxes.
According to a press release from the IRS, IRS Commissioner Doug Shulman wants people to know they still have time to qualify for the stimulus payment. They just need to file a tax return.
Can I Still File After April 15th?
Yes. The IRS wants people to know that you can still qualify for the economic stimulus payment after April 15th. Your stimulus payment will take …
May
7
… full stimulus payment. There are several reasons for this. A large number of people had to file amended tax returns. Several people reported problems with other people claiming their dependents.
Others either made too much money or too little money in 2007. Because of this they either weren't eligible for the stimulus payment at all, or received a reduced payment.
How Can I Qualify Next Year?
Because the stimulus package is actually an " advanced tax credit on the 2008 tax …
Aug
21
Spending More on Luxuries Than Necessities
August 21, 2008 | Leave a Comment
… than I do. They get a tax refund ( Earned Income Tax Credit ) even though they don't pay taxes. They have cell phones. They get their hair and nails done. It's all about priorities.
Aug
6
… costs could be as high as thousands of dollars a year (or more).
Fact: Your must pay property taxes on your home each year. Local governments are always trying to raise property taxes.
Fact: Your mortgage company will require you to carry home owner's insurance.
Fact: You'll put a lot of labor into your home or you'll pay someone else to do it.
Fact: If you don't put down 20% of the cost of the house, you'll pay Private Mortgage Insurance (PMI).
Fact: Your house will …
Aug
4
Track Home Improvment Expenses for Tax Purposes
August 4, 2008 | Leave a Comment
… expenses (and receipts ) from home improvement projects? What are the tax consequences?
Taxes
Generally, there are no tax breaks for most home improvement/remodeling projects (excluding those projects that qualify for some type of tax break based on energy savings) in the year that you make the improvements.
From Jackson Hewitt :
The terms repairs and improvements can be confusing as it applies to the value of your home. A repair or maintenance expense is not tax …
Jul
29
More Reasons to Pay Off Your Mortgage
July 29, 2008 | 4 Comments
… paying off your mortgage with the same or greater rate of return. Don't forget to deduct taxes and capital gains if necessary.I've just started reading Fooled by Randomness by Nassim Nicholas Taleb. His premise as far as I can tell is that we very much underestimate risk. Seeing as how we've seen 2 major bubbles burst (possibly a 3rd with commodity prices) in less than a decade, I think it's an appropriate topic.Safety in the modern world (or at any time in the past) is an …