Tips and ideas about saving time and money when preparing or paying taxes.
How to Report Rental Income from a Live-in Relative?We just bought a house and my sister is going to live with us for a time and give us $500 towards expenses each month. Once tax time comes, I am not sure how to claim this money that she gives us. Does anyone else have a similar situation, and how do you work it with taxes?
DIY Business Receipts?How do you use or create a business receipt that is acceptable for filing taxes?
Claiming Step Children on Taxes?Can I claim my stepdaughter on my taxes if I support her and she is a full-time student that lives under my roof?
Avoiding Early Tax Refund LoansIt's better to wait for your tax return to come from the IRS rather than losing part of it to pay for the early loan. This is a page about avoiding early tax refund loans.
Paying TaxesThis is a page about paying taxes. Whatever your tax liability is for, you want to make sure you are ready to pay it on time.
Grants to Pay Taxes for Seniors?Last year we were forced to retire from our business and were left with approximately $9000 in business taxes and about $7000 in bills. My husband is 73 and fighting cancer. I am 71.
Filing TaxesThis is a page about filing taxes. April means it's tax time.
Dealing With an IRS AuditThis is a page about dealing with an IRS audit. The IRS routinely audits a percentage of taxpayers.
Is Life Insurance Payout Taxable?I received $6000 in life insurance money when my father passed away. Do I have to claim it on my tax return?
Finding a Good AccountantThis is a page to finding a good accountant. Keeping track of your finances and taxes can be real chore, especially if you own a small business. An accountant can save you a lot of money and headaches in the long run.
What is Taxable and Nontaxable Income?This may be a dumb question to some, but, on my taxes, do I have to claim any money I received from ThriftyFun.com (TF), such as from TF contests or craft submissions?
Tax Forms No Longer Being MailedIf you're like me and wait for IRS forms and instructions to arrive via US Postal mail to fill out and send in, here's a heads up! Don't wait and expect them to arrive in your snail mail box from now on, because it's not going to happen.
Taxing a Retro Active Raise?I received a 3% raise retro active from 01/01/09. My employer taxed it at the gift tax rate. Is this legal? Should it not have been taxed as regular income at the individual tax rate?
Link: Shoeboxed.com For Storing RecieptsI have to keep all my receipts for tax purposes. I hate searching though files of them and have found that it is so much less clutter and easier to find by using shoeboxed.com.
Reporting Contest Winnings to IRS?Does anyone know what the rules are about winning various contests in regards to reporting the winnings (whether cash or a prize) to the IRS? Is there a minimum amount allowed that you can win that you do not have to report and declare.
Questions About Stimulus Tax Cuts?My office manager has notified us that the stimulus package result of us getting $13-14 back will be then taken back from us in taxes next year. She suggested we fill out a new W4 and request that money not be put in our take home pay.
Filling Out a W-4?I am a newlywed and a bit confused on how to fill out my W-4. When I was single my employee helped me fill out the W-4, later to realize she put 3 dependents on me so I had to pay the money back.
Paying Back Taxes?So I was self employed for 2 summers making about $7000 each summer while I was in high school and I never paid in the taxes I was supposed to. This year I worked for two other employers making about $10,000 from one place and $2-3000 from the other place. Is the government going to keep my tax return to help credit it to what I owe?
Tax Forms Show Different Refund Amounts?On 1/17/09 I e-filed my Federal taxes with one site (turbotax). Early this morning 1/18/09 I logged into another site that offered free state filing. Keep in mind it was 3am, so 1/2 way through I realize it's a Federal form. The issue: the 2nd form offers $500 more than the one previously e-filed (yes, same exact info: deductions, wages etc.) I have not submitted the 2nd form, but any thoughts as to how I get the additional refund money? Thanks in advance!
Statute of Limitations for Excise Taxes?Does anyone have an idea of the statute of limitations the department of revenue has on collecting excise taxes, or do the even have a limit on how far back they can go?
Taxes on a Thrift Savings Plan?I'm a 100% disabled veteran and want to withdraw my thrift savings money from my government job that I'm now retired from. Do I have to give 20% to taxes or am i exempt? What should I do?
Do I Count a Gift as Income on Taxes?Do I Count a Gift as Income on Taxes? This question is for those of you with any tax knowledge. My husband's and my income for our family of 4 is such that we usually receive a tax refund of all taxes taken out of paychecks plus earned income credit.
Tax Receipts for Thrift Store Donations?The sales person who gave me a receipt for donation in the thrift shop refused to put an amount on it if it worth less than $500. Now I have 3 receipts which indicate only number of shopping bags.
DIY TaxesOne of the primary rules of being frugal is TRY TO DO IT YOURSELF FIRST. I just finished doing my own taxes with the help of a J.K. Lasser book. Not only does it give me a MUCH better idea of my finances...
Tax Deductions for Homeschooling?I just started homeschooling and was wondering if there are any tax deductions I should look for. Can I deduct for books and other school supplies? What about larger items like software, desk, globe, field trips, etc.
DIY Business Receipts?How do you use or create a business receipt that is acceptable for filing taxes?
Depositing Saved Change Without Paying Income Tax Again?I saved change for years from my paychecks. How can I deposit it with out paying income tax on it again? I already paid tax on it.
Deducting Rent Payments on Taxes?Can you deduct your rent payment on your taxes? I have been told two different things. So if there are people that are familiar with this please inform us asap. Thank you for your support.
Marriage and Taxes?I recently got married last month. I worked the same job for 14 years but in June we relocated and unfortunately the job couldn't come with. I've never been married and I've never filed taxes any other way...
Deducting Your Cellphone Bill on Your Taxes?What pieces of my cell phone bill do I need to take to my tax prep? I started using my personal cell for some calls that were work related in June 08. Do I need to highlight specific calls, or just give him a monthly payment rundown?
