Showing posts with label taxes. Show all posts
Showing posts with label taxes. Show all posts

Sunday, March 25, 2012

How I Save Thousands of Dollars in Income, Sales and Property Taxes

We give up to half of our income in taxes such as federal income tax, state income tax, local income tax, sales tax, and property tax. I don't pay more taxes than I have to by following 5 easy steps. These help me save thousands of dollars I would otherwise be paying in taxes. Read more HERE...

Monday, March 5, 2012

Assessing My Income Tax Audit Risk


Every year, I wonder if my income tax return will be selected for an audit by the IRS. I investigated what the odds of an IRS audit were. According to the files from the 2010 Data Book (most recent available), the IRS audited about 1.7 million income tax returns, which was only 0.9% of the 187 million filed. It seems filing early versus in April, or refund versus tax owed did not have a bearing on audit risk. Two items clearly increased the risk of audit.

Read more at Yahoo Finance: Assessing My Income Tax Audit Risk

Wednesday, February 15, 2012

I'm in No Rush to File My Taxes

Every year, some people try to file their income taxes ahead of everyone. They rush to their accountant or tax software as soon as they get their W-2 or 1099. They boast that they will get their tax refund check before any one else. Not me. I am a tortoise when it comes to taxes. Read more here or here...

Monday, February 13, 2012

I Hate Income Tax Refunds!

If I were one of the 109.3 million Americans getting a refund, instead of being happy I would be upset. I hate tax refunds. I would rather owe taxes. Read more here...

Saturday, December 24, 2011

Spring Cleaning Before Spring

While fixing up the house can wait until spring, winter is a great time to clean my closets and pantry. I am giving away coats, clothes, shoes, canned goods, travel toiletries, even Tupperware to benefit others, and making room for new items. Read more here...