Category Archives: Taxes

Maxing Out Retirement = Saving Too Much?

I came across an interesting online discussion the other day, about how maxing out both a 401k and an IRA was simply a lot of over-saving. The discussion was based on some article about a single adult male who maxed … Continue reading

Posted in Personal Finance, Retirement, Saving Money, Taxes | 14 Comments

Putting Patents On Saving Money – Spend Every Dime

Putting Patents On Saving Money: This is an interesting article that totally blew me away. Apparently you can patent ways to save money on taxes and if you create tax savings in a way that someone else has patented, you … Continue reading

Posted in Taxes | 1 Comment

Taxes Have Political Correctness Issues

In the spirit of political correctness, the IRS long ago did away with the old designations of “husband” and “wife” on individual tax returns, and replaced them with “taxpayer” and “spouse.” The result of this change has led to many … Continue reading

Posted in Taxes | 6 Comments

How To Extend Your Tax Return

As April 17th approaches, the inevitable question is, “Have you filed your taxes yet?” Hopefully you are all on the ball and if you had a refund due, you filed back around February 1 and if you owed, you are … Continue reading

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When Should You Opt For A Professional Tax Preparer?

Well, we all know it is that time of year. If you haven’t had your taxes done by now, maybe you are still trying to decide how you will go about getting them done. I did a recent article on … Continue reading

Posted in Taxes | 3 Comments

Bogus IRS Websites and Scams

The IRS website and many state government websites can provide information on the status of your income tax refunds. But at the same time, they request very personal information such as your social security number and your income, in order … Continue reading

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Tax Rap Contest

Yes, you read that title correctly and I’m still shaking my head a bit. It appears that Turbo Tax has launched a tax rap contest worth $25,000 to the person that can come up with the best Turbo Tax inspired … Continue reading

Posted in Taxes | 3 Comments

IRS Free File – The Key Is State Taxes

By now, you’re probably well aware that you can Free File your federal taxes through the IRS Free File program. What hasn’t been discussed a lot is that which of the programs you should choose to do your federal taxes … Continue reading

Posted in Taxes | 2 Comments

Why Are Bonuses So Heavily Taxed?

You’ve probably wondered why your bonuses are so heavily taxed. It’s all in the tax law. There are two methods to determine bonus withholding. One method is called the Percentage Method; the other is the Aggregate Method. Which method is … Continue reading

Posted in Personal Finance, Taxes | Tagged , , | 35 Comments

Charitable Tax Deduction Donantion Changes

There are a number of new tax laws in recent years when it comes to charitable contribution deductions. These are some pretty significant changes, so keep in mind the following as you do your taxes in regard to the cash … Continue reading

Posted in Taxes | 2 Comments

Dissecting Your Paycheck

So you made it out into the real world and received your first paycheck. Wait a minute…Where did it all go? You were expecting X amount of dollars, but probably received a lot less. It amazes me how little the … Continue reading

Posted in Personal Finance, Taxes, Work | 23 Comments

10 Stupid Arguments For Not Paying Your Income Taxes

The IRS hears so many of the same ridiculous arguments by people claiming they are not liable to pay income tax that it has posted a 64-page document on its website called “The Truth About Frivolous Tax Arguments.” It sets … Continue reading

Posted in Taxes | 19 Comments

How Buying Mice Saved $15,000 Of Your Tax Dollars

You’ve likely heard of numerous stories in the past about the government spending ridiculously high amounts of money on basic items such as the $640 toilet seat, the $435 claw hammer and $7,600 for coffee makers. In an effort to … Continue reading

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One-Third Of Taxpayers Not Taking Free Money

The IRS sent out a press release due to many people making mistakes on getting the free money they are entitled to through the one time Telephone Excise Tax Refund for 2006 taxes. One of the points highlighted by the … Continue reading

Posted in Making Money, Taxes | 1 Comment

Should You Hold Off On Filing Your Taxes?

Conventional wisdom would say that if you’re expecting a sizable Federal income tax refund, you would want to file your tax return as soon as possible to collect your money that you have been lending the IRS interest free during … Continue reading

Posted in Taxes | 2 Comments

How Much Do You Pay In Taxes?

That is my question for today. How much do you pay in taxes? Remember the answer you have just given and keep reading. I had an interesting conversation with a friend a couple of days ago on this subject. We … Continue reading

Posted in Taxes | 13 Comments

Tax Preparers Become Loan Sharks

The tax preparers have seen the light and realize there is more money to be made being loan sharks than by preparing your taxes. And they have taken it to a whole new level this year by not even requiring … Continue reading

Posted in Saving Money, Taxes | 4 Comments

TV Producer Looking To Interview Someone

I received an email from a TV producer named Pam Wheaton Shorr who has sought people from our forums on other stories in the past that is putting together a story about the new IRS option to split your tax … Continue reading

Posted in Saving Money, Taxes | 1 Comment

How Taxes Really Work

The following story has been circulating around the Internet since 2001, but it is always a humorous read (and will get you thinking a bit) as people start to put their taxes together so I thought I’d place it up … Continue reading

Posted in Taxes | 6 Comments

IRS Tax Deduction

Had to smile when I saw this: Courtesy of blakefacey

Posted in Taxes | 5 Comments