The Fun Times Guide > Personal Finance > Taxes 101

Which Tax Papers To Keep + Tips For Organizing 7 Years Of Support Documentation For Your Taxes

7-years-tax-records

Each year around tax time, I go through all of our personal receipts, bank statements, household utilities, and medical bills/receipts in an attempt to stay organized. By staying on top of this and doing it just once each year, it's easier to find the information we need when the time comes for filing taxes. Now it's a breeze to find the appropriate support documentation for our tax forms -- and for the accountant -- each year. I thought I'd share some of the time-saving tips I use to … [Read more...]

Filed Under: Jobs & Money, Tax Tips Tagged With: , , ,

Last-Minute Income Tax Tips For Individuals, Families & Small Businesses

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 … [Read more...]

Filed Under: Jobs & Money, Tax Tips Tagged With: ,

Get Ready For Next Year’s Taxes… NOW!

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.  … [Read more...]

Filed Under: Jobs & Money, Tax Tips Tagged With:

What To Do When A Spouse Dies: How To Get A Handle On Your Finances

desk-and-plant

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 … [Read more...]

Filed Under: Budgeting Tips & Debt Relief, Jobs & Money, `Popular Tagged With: , , , , , , ,

Watch Out… They Are Out To Get Your Tax Rebate Check!

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. … [Read more...]

Filed Under: Jobs & Money, Tax Tips Tagged With: ,

What Are You Going To Do With Your Tax Rebate Check… Stimulate The Economy Or Pay Off Debt?

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. … [Read more...]

Filed Under: Jobs & Money, Tax Tips Tagged With: , , ,

Do I Have To Pay Quarterly Taxes?

quarterly-taxes

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 … [Read more...]

Filed Under: Jobs & Money, Tax Tips, `Popular Tagged With:

Tax Tips For Buying A Home: Mortgage Interest & Personal Mortgage Insurance (PMI)

Although there are several added expenses involved in purchasing a home, some of these expenses are tax deductible on your return. Expenses such as Mortgage Interest and Private Mortgage Insurance help reduce your taxable income on your return. We'll discuss these different types of expenses and how to take advantage of it. … [Read more...]

Filed Under: Home / Health / Auto, Jobs & Money Tagged With: , , , ,

Marriage and Taxes – What You Need To Know

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. … [Read more...]

Filed Under: Jobs & Money, Tax Tips Tagged With: , ,

Types of IRS Audits – What You Need To Know

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. … [Read more...]

Filed Under: Jobs & Money, Tax Tips Tagged With:
«Older Posts