While it may be too late for some year-end tax tips, there are still some things you can do to reduce what Uncle Sam will be looking to collect from your hard earned income this year.

As you know, April 15th is the dreaded deadline to file your taxes. It shouldn't be a surprise; it comes the same time every year.

Despite the knowledge that preparing my tax return is inevitable, I too am among those who procrastinate until the last week. I usually wait until just before penalties are assessed to finally prepare my tax return.

Due to today's economy, many Americans are tempted to cancel vacations this year in lieu of saving money (or paying down credit cards and other debt). 

It probably is a good idea to use vacation money to pay bills, especially if you are in debt.  But being financially responsible doesn't necessarily mean that you need to deprive yourself or your family of a relaxing vacation. 
 
If you find yourself in need of a vacation without the money to finance it, before you cancel your vacation plans altogether, here are 5 simple things you can do to keep your vacation plans on track.

Now that Tax Season is over and you have (hopefully) completed your tax returns and put them behind you, here are some things you can do to make the next tax season even easier. 

The following tips will help you get organized and stay organized so you'll know where everything is when it comes time to prepare for your taxes.

The death of a spouse is a traumatic experience that can set your head spinning and your heart reeling.  Few people are ever ready for this tragic event emotionally or even financially.

Unfortunately, adding to the inner turmoil that you are probably experiencing, are the financial matters that must be dealt with immediately.  Knowing what needs to be taken care of can be a tremendous help at this point, alleviating some of the stress and tension that is certainly swirling around you.

Sometimes it is well worth it to have two incomes in a household.  Sometimes it is financially draining. 

In my life, I have realized something about time and money.  The fact is that sometimes time is more valuable than money. 

Here are some things you can do with your time that are more valuable than working a low-wage job. 

An email in my inbox this morning started with “How will YOU stimulate the economy?” The person then stated that she is going to use her tax rebate check to take a summer vacation.  Then the sender proceeded to try to sell me a vacation package.
 
I am tempted to unsubscribe to my home business email lists until after the stimulus checks have come and gone.  I get an email or two like this daily.

According to the Economic Stimulus Package, the U.S. Treasury will start sending out checks in May to 130 million families.

The purpose of sending out this money is to stimulate the economy.

Taxpayers are required to pay quarterly estimated tax payments if the money withheld from the income will not be sufficient to pay your tax liability at the end of the year. This usually includes most self-employed individuals, landlords, and investors.

Currently, you must only pay estimated taxes if you expect to owe $1,000 or more in taxes on top of any withholdings AND your total withholdings plus or tax credits are only 90% of the total tax you expect to pay at the end of the year.

Now that wedding season is in full bloom, it might be a good idea to discuss what happens after the "I do's" and the parties... tax wise that is.

After getting married, many begin the process of consolidating accounts, changing names, and coming up with a new budget. Here is a guide to the most important things you need to remember tax wise.

Since tax season has ended, some individuals need to get ready for the next step...unfortunately this one isn't much better.

The IRS randomly selects tax returns for audit each year. Depending on what deductions you've taken and other characteristics of your tax return, your tax return can have a higher probability of being selected for an audit.

Here's what you need to know about IRS tax audits.

Tax Freedom Day... sounds like you should not be paying taxes. On the contrary, Tax Freedom Day represents how many days the average American needs to work in order to pay their taxes.

This year's Tax Freedom Day falls on April 30, which means Americans on average will work for 120 days in order to pay their taxes.

Savings bonds are a great way to invest income conservatively. Not only is the bond guaranteed by the United States government, but it also pays interest based on current market rates.

While the interest on these bonds is taxable at the federal level when redeemed, there is one way to avoid it.

With the tax deadline tomorrow, you may be stressing out trying to get your tax return filled out at the last minute. Or you may be begging a CPA to find some time to complete your return.

But either way, there is another option. You can always file a tax return extension.

Think you need to include ALL income on your tax return? Think again!

There are several sources of income the IRS tax code does not allow to be taxed. Below I've listed a few types of income that you should not include on your tax return.

There are 5 filing statuses available to taxpayers:

• married filing jointly


• married filing separately


• surviving spouse


• head of household


• single

I will discuss each tax filing status and the related benefits and requirements.

Several tax deductions and credits refer to a qualifying child, but what exactly is one?

Well, up until 2 years ago, different deductions and credits had different definitions of a qualifying child. However, that changed when the Working Families Relief Act of 2004 set a standard definition of a "qualifying" child.

For all my bloggy, techie, gadget-loving friends... many of whom have downloaded a song or two via iTunes (and other music download sites)...

Did you know you have to pay taxes on all those songs ?!?!?

Yep, 15 states and Washington D.C. require their residents to pay taxes on downloads of music, movies and electronic books.

Those states are...

My mom and brother have donated cars to charity before.

From their experience, I learned a few things about the process.

The biggest thing I learned: It's so quick and simple!

Here's how to donate a car to the charity of your choice...