Tax Carnival #8: Stocking Stuffers

Christmas is just a week away, so in this last Tax Carnival of 2006 we've got some tax stocking stuffers for you.

The first socks to be filled are those of folks who asked Santa for some year-end tax moves to make.

William Perez at About: Tax Planning offers a dozen things to think about between now and Dec. 31. Like you don't have enough already! But really, William's tips will actually help save you tax money, so give them at least a glance.

If one of your late-year moves involves your investments, Joe at Roth CPA warns mutual fund owners to beware buying a tax liability.

And if you're tired of reading about taxes, then watch a video about them instead. Taxalicious has posted a short program offering some year-end tips.

Tax write-off stockings are full again, thanks to recent Congressional passage of the breaks known as extenders.

Steve over at Debt Free has expertly wrapped up this topic in his entry, A little Christmas present from Uncle Sam and the 109th Congress.

Another extenders' overview is provided by David over at The Picket Line.

The educators expenses write-off is the focus of Kristine at Financial Tips for WAHMs.

And, if you'll indulge me a bit, I'd like to offer my own examination of the sales tax itemized deduction that was part of this last-minute legislation.

Got a big stocking? Good thing, as you'll need it to contain these real estate tax stuffers.

Craig presents Commercial Real Estate: How You Win Even If You Lose over at Investment Property Insider.

Sagar tells us how to pass on your legacy instead of taxes at 1031 Exchange Lowdown.

And other types of property also have tax implications. S/100/30 examines an intriguing tax break for works of donated art and the precise timing of such donating and deducting over at The 100 by 30 Project. Hey, doesn't that blog name sound sorta like an art gallery?

We all know that Santa's rounds span the entire globe. So too does the Tax Carnival.

Big Cajun Man at Canadian Financial Stuff tells us that the IMF thinks the Great White North shouldn't reduce its sales taxes, but instead should lower its income and corporate taxes. Whatever the mechanism, BCM says, "I just want lower taxes." Don't we all.

Santa also visits all the U.S. states, so following his lead (at least a little bit), we're now turning the tax toboggan toward the West Coast.

Out California way, according to Queercents, beginning next year California registered domestic partners must file married tax returns. Allison, who sent along this bit of info, enthuses, "This is a moment many of us have been waiting for. Our unions are recognized by a taxing authority!"

Back to the less romantic working world, we have several tax-smart stocking stuffers to make the cube farm more tolerable.

When it comes to making more money, a lot of people think about working harder or working more. But that equation doesn't add up all the time, says Paul at Paul's Tips. He did find one job though, that does tend to be lucrative: tax planning. That's why we're all here, isn't it!?

You can always hope for a year-end bonus. But beware of the dark side of such funds, warns Wenchypoo. Find the details over at Wenchypoo's Mental Wastebasket in, of course, the bonus round.

To get that good paying job, you'll need a good education. That's a tax challenge for many, including MakingOurWay, where you'll find out how one family rescued their college savings from "Illinois's overpriced and inflexible Bright Start Savings Plan."

Well, we're shaking out that last stocking and look at what we found in the toe!

Waffletchnlgy presents a veritable potpourri of tax tips over at Ratio (Price, Quality).

And we leave you today, Tax Carnivalistas, with this thought from RDF, aka The Wandering Tax Pro: You're never too old to pay taxes.

Of course, you're never too old or young to learn about ways to reduce those inevitable taxes. We thank you for checking out some of those options in today's Tax Carnival #8.

And we'll see you back here on Jan. 8, 2007, with more tax tips (that you can contribute at our Blog Carnival page) in Tax Carnival #9.

Stocking images courtesy of The Christmas Corner