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  • It's no wonder Uncle Sam is not very happy here. His vault is empty.
    Don't Mess With Taxes aims to keep him cranky by providing tax and personal finance tips and advice that will put more money in your bank account, not the government treasury.

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Tax Calendar

  • April 15 has come and gone, but millions now have until Oct. 15 to file their 2008 returns. And millions more have 2009 tax planning to do.
  • There are plenty of year-round tax dates to keep track of, as well as lots of tax-saving moves you can make between Jan. 1 and Dec. 31.
    Find them here each month.


    monthly tax moves
  • July 1: You're halfway through the year. Now's the perfect time to make some midyear tax moves that could cut your 2009 IRS bill. If your life has changed significantly since the beginning of the year, adjust your withholding to more accurately reflect your new life, and tax, situation. Just give your employer a new W-4.

    July 4: Happy Independence Day! Celebrate your independence from future tax hassles. Hire a tax professional now to help get your tax life in shape while there's still plenty of time to plan.

    July 10: Does your job include tips? If so and you received $20 in tips in June, use Form 4070 to report them today to your employer.

    July 17: Are your kids at day camp while you work? You might be able to use that expense to claim the child and dependent care credit to cover some of the costs.

    July 21: It's been summer for month. How's your air conditioner holding up? If you need a new one, make sure it's energy efficient; that way on your 2009 tax return you can claim a tax credit for 30 percent of the cost, up to $1,500. Other energy-saving home improvements also qualify. Get the details at EnergyStar.gov.

    July 31: If you kids are older and working summer jobs, make sure they understand their tax responsibilities. You also can help your youngster get a nest egg head start by helping him or her open a Roth IRA with some of those summer earnings.

    Small Business Tax Calendar -- July: Important filing, deposit and record keeping dates your company needs to know.

Carnival of Taxes

  • Where we party like
    it's 1040 ... Form 1040!


  • Check out the latest
    Carnival of Taxes,
    #55: Tax Fireworks


    Want to be a part of the next one on August 3? Just review the Tax Carnival guidelines
    and then send
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  • Catch up on prevous
    Tax Carnivals in our archives.

Tax Terms

  • Earned income -- It's just like it sounds: Compensation you receive from work, including wages, salaries, commissions, tips and self-employment endeavors. Learn more...
  • Unearned income -- Money that is not gained by work or delivery of a service or product. It's most well-known source is from investments. Learn more...
  • Tax rates/brackets -- The U.S. tax system is a progressive one, in which the greater the earnings, the higher the tax rate. Learn more...
  • See these and other tax terms
    in the perpetually updated
    Tax Glossary.

Cool tax quotes

  • The income tax has made
    more liars out of the American people than golf has.

    -- Will Rogers, humorist
  • I'm proud to pay taxes in the United States; the only thing is,
    I could be just as proud for half the money.
    -- Arthur Godfrey, comedian
  • Intaxication: Euphoria at getting a refund from the IRS, which lasts until you realize it was your money to start with. -- Author unknown, from a Washington Post word contest
  • "Internal Revenue Service: The world's most successful mail order business.” -- Bob Goddard, writer
  • "If you are truly serious about preparing your child for the future, don't teach him to subtract. Teach him to deduct." -- Fran Lebowitz, writer
  • "The United States has a system of taxation by confession." -- Hugo Black, Supreme Court Justice

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I gotta tell ya ...

  • AKA Disclaimer:
    The content on Don't Mess With Taxes is my personal opinion based on my study and understanding of tax laws, policies and regulations. It’s provided for your private, noncommercial, educational and informational purposes only. It’s not a recommendation or endorsement of any company or product. I strongly suggest that when it comes to filing your taxes, you get additional, professional, paid-for guidance from your accountant and other financial advisers who are familiar with your individual circumstances. In other words, don't blame me!

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Sunday, January 22, 2006

Dammed if you do

Mansfield_dam We live just a few miles from Mansfield Dam, which parcels off the Colorado River to create Lake Travis to the dam's north and Lake Austin to its south. You can take a virtual tour of the associated recreational area here.

This massive structure and others like it really are engineering marvels. It amazes me that people not only design such edifices, but actually build them.

My admiration, however, is tempered by the tree-hugger part of me that is deeply saddened any time humans decide to disrupt a natural process. That voice screams loudly in my head during the continual, though generally subdued, internal philosophical debate that it has with the material me, the one who likes my house in the neighborhood that likely wouldn't exist without the dam to control and manage water resources.

Here in the Austin/Hill Country area, H2O control falls to the Lower Colorado River Authority, officially described as "a Texas conservation and reclamation district operating with no taxing authority." Translated from bureaucrat-speak, that means LCRA has to find other ways to raise its operating funds, specifically by selling electricity and electric transmission and water services.

Because of the conservation component of its mandate, LCRA has to juggle natural resource management and environmental concerns with utility production capabilities. I wonder how many LCRA workers have the same internal arguments that I do?

It's a big job. Not only are LCRA's goals far-reaching, the resource it manages is huge. In a typical year, almost 600 billion gallons flow along the Colorado's 900-mile Texas course, starting near the Panhandle, then wandering through the central part of the state before ending up at the Gulf of Mexico.

This U.S. Geological Survey site has data on the Colorado's basin, along with those of other Lone Star rivers and some cool links. I didn't realize until today that my dry-as-a-bone West Texas hometown is technically in a river basin.

2006, however, hasn't been a typical year. Since we arrived here last May, it's been abnormally dry, coupled with stretches of record-breaking heat. That's caused some real problems.

On a personal level, our yard has major moisture-related issues. I want to dig out every inch of lawn and put in Xeriscape plants. My husband, even though mowing duties fall to him, is resistant to my sweeping botanical-change suggestions. The battle royale will be engaged in a couple of months where we start talking to landscape companies. We'll see whether the bulk of existing flora (and our marriage) will survive.

On a larger scale, area waterways also are suffering.

Drought06_pedernales_3 Lake Travis is already 17 feet below its full capacity elevation and could drop another 21 feet if the dry weather pattern continues. Unfortunately, that's very likely. The area of the lake designated as "Sometimes Islands," an acknowledgment of the land masses that pop up when the lake level drops, might this year become "Permanent Islands." I can see the developers' ads now: Prime new waterfront property! Great recreational opportunities!

It is finally raining a bit today. Well, here in our suburb, it's more like drizzle. Unfortunately, it looks like the major precip is north of us and moving northeast, away from Austin and the Colorado basin. I guess we'll leave the sprinkler system on for another week.

It's just enough rain to make the day icky, a bit too damp and cool (our heater has kicked in for the first time in daylight hours in ages) for any kind of outdoor activity. So I guess I'll be forced to stay inside today.

Maybe I'll work on getting our personal tax information in some kind of order. Year-end statements are starting to arrive and I've just been tossing them in a box in my office closet. An initial sort of the docs would be good. TODAY’S TAX TIP has details on what kind of filing-related statements to expect.

Or maybe I'll just light the fireplace, curl up on the couch and watch the NFL playoffs. Since the stupid, stupid Cowboys screwed up, I don't really care who wins. But being a Texan, I have an innate attraction to that goofily shaped ball and the guys that chase after it.

Deliverancewall Dammed fine film: One of my favorite Burt Reynolds flicks is "Deliverance."  If that damned dam hadn't been planned, those guys wouldn't have had such an unfortunate river experience.

One of the canoes used in the movie is in Burt's museum in Jupiter, Fla., his hometown. When we lived there (actually we lived in two communities adjacent to Jupiter, the village of Tequesta to the north before we moved to Palm Beach Gardens to the south) we visited the museum a couple of times.

If you're ever in the area and it's experiencing icky weather like we have today, it's a good place to while away some indoor hours.

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