May 1: Happy
May Day! This international holiday celebrating workers is a perfect time for employers of household help to review their tax responsibilities. You don't want to end up with facing
nanny tax trouble!
May 5: ¡
Feliz Cinco de Mayo!
Take time on this fifth day of the fifth month to get your tax material in order. You need a
tax record keeping system for your 2012 taxes, as well a filing system for your 2011 return material in case the Internal Revenue Service has questions.
May 8: Those tax records you just organized will let you know whether you need to
adjust your withholding. It's a good move, whether you owed the IRS a lot or got a big refund.
May 10: Does your job include
tips? If so and you received $20 in tips in April, use
Form 4070 to report them today to your employer.
May 13: Happy Mother's Day! Make sure today is a special one for your mom. And if you're a mother, or about to be, be sure to check out the
tax joys of parenthood.
May 16: With the arrival of warmer spring weather come home improvement projects, such as the planting of May flowers and
bird-friendly plants.
Such home work will help
increase your basis in the property and that could help reduce any potential
home sale tax bill.
Advanced home energy home upgrades also could get you dollar-for-dollar tax credit savings this tax year. These include the more costly
solar, wind energy and geothermal systems.
May 21: Set up your
bunching strategy. This method of collecting enough deductible expenses so that you can itemize works better when you get started as early as possible in the tax year.
May 26: If you're hitting the road on the Memorial Day holiday to kick off summer, be on the lookout for bargain gasoline. State and local
fuel excise taxes can really ramp up pump prices.
Regardless of how you travel, if part of your trip is business related, Uncle Sam might be willing to
pick up some of those costs when you file your tax return.
May 31: Was this the last filing season you want to go it alone at tax time? Then start searching for a tax professional now. You have more time to thoroughly investigate and
pick the perfect tax pro.
If you filed for an extension, he or she could help you finish up this 2011 tax year task. And hiring a tax pro now will definitely help you get a head start on your 2012 return.
Small Business Tax Calendar -- May: Important
filing, deposit and record keeping dates your company needs to know.
Representatives from both sides of the aisle this afternoon lined up against the $700 billion bailout plan by a 228-to-205 vote. The measure had been scheduled for a Senate vote on Wednesday, but that's now in limbo as lawmakers try to regroup.
Wondering when will it end up...
Posted by: Eitan Yariv | Tuesday, September 30, 2008 at 03:46 AM
A well written and very intresting post. I don't see how we would end up - Hope for the best however
Posted by: Eitan Yariv | Tuesday, September 30, 2008 at 03:42 AM
I would have to say I would rather they spend their time working rather than clogging the media with their campaigning.
All so, much ashamed the market should be not being able to stand on it's own.
Posted by: Bruce | Monday, September 29, 2008 at 03:30 PM