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Keep Uncle Sam cranky!

  • 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.

Great Googly Moogly!

July 2009

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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

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

But wait! There's more!

  • If you'd like to view more than
    the posts shown on this page, Arrow_right click here to go to the Don't Mess With Taxes archives page. There you can browse earlier blog items by the month they were posted or by their category.

What are you looking for?

  • Looking for something in particular? If you know the general topic, you can click on it in the "Categories" section that follows. Or you can enter specific keywords in the box below for a Lijit search of
    Don't Mess With Taxes.

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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Monday, April 07, 2008

Tax Carnival #34: Big Tax Dance

With tonight being the championship game of the NCAA basketball tournament, the 34th Carnival of Taxes is the Big Tax Dance edition.

Now I gotta admit upfront I'm not a basketball fan, so I'm going to keep my hoops' analogies simple. That pre-game announcement made, let's get to it!

Tipoff Tip off
Getting us starting is Mark Runta of Investing Lessons, who presents It Is Tax Time!

FIRE Finance of the blog of the same name reminds us that we've got to File 2007's taxes to get your Economic Stimulus Rebate Check!

When you do file, Ryan Taylor of Millionaire Money Habits offers a cautionary post: Did You Get Your Tax Return? 5 Common Tax Mistakes.

First half
Moving deeper into the game, we look at filing methods courtesy of Chief Family Officer. Posted at the blog of the same name you'll find Human accountant vs. Tax prep software.

Basketball_in_motion_2 Next, we get word from Dan Meyer that the AICPA and USA Today Team Up to Stamp out Tax Ignorance. The Q&A program runs through April 15, according to Dan's post on Tick Marks.

Halftime
During the break, it's time for a refresher on some tax terminology. Raymond from Money Blue Book 
details the differences between Adjusted Gross Income and Modified Adjusted Gross Income.

Second half
As we retake the court, Diane Dean looks at some business tax considerations in Interest and Dividends, posted at Need IRS Help?

Penelope Pince of Our Fourpence Worth presents Tax Form & Publication Guide for the Newly Self-Employed.

Jose DeJesus talks about some Small Business Tax Breaks in the Stimulus Program, posted at Physician Entrepreneur.

Basketballhoop_2_2 Technical fouls
Leon Gettler of Sox First discusses A fistful of dollars: the CEO tax dodge.

Heather Johnson presents Five Ways to Reduce Your Chances of Being Audited, posted at The Real Life Debt Blog.

Over at FiveCentNickel.com, nickel presents Ten Tips for Avoiding an Income Tax Audit.

Two minutes left in the game
Madison of My Dollar Plan brings us IRA Recharacterization: What, Why, How and When?

Shuli Cheng presents Obtaining tax savings for individual forex traders: a hassle but well worth it, posted at Spicecap.

Super Saver looks at Taking Advantage Of Tax Saving Benefits In 2008 at My Wealth Builder.

Basketball_shooter_2 Free throws
David Gross discusses Taxpaying as Complicity, posted at The Picket Line.

Tracy Coenen presents Bar Stool Economics (A commentary on the American tax system) over at Sequence Inc. Fraud Files.

Since this is a presidential election year, FMF takes a look at How Democrats and Republicans Run the Nation's Finances. It's posted at Free Money Finance.

Buzzer beater
And Madeleine Begun Kane closes out our Big Tax Dance Carnival with some timely poetry in Taxing Verse, posted at Mad Kane's Humor Blog.

And so concludes our 34th Tax Carnival. Thanks to all our contributors and all you readers.

We've got one more Tax Carnival coming up before the April 15 tax deadline. Get your last-minute tax tips in (click here to submit your tax item) by next Saturday night and be a part of Carnival #35 next Monday, April 14.

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Comments

Great job on the carnival and thanks for including my post!
P

Thanks for hosting and including our post.
Cheers,
FIRE Finance

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