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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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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

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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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« 2008 Year-end Money Moves: Taxes | Main | 'Millionaire' gifts and taxes »

Wednesday, December 03, 2008

D.C. to cash in on extra inaugural hours

More than 1 million people are expected to flock to Washington, D.C., on Jan. 20, 2009, to see Barack Obama's historic inauguration as our 44th president.

And Washington, D.C., officials want to make sure that those Obamaniacs get to party as hearty and long as they want.

Mug of beer (2) Emergency legislation approved by the D.C. Council on Tuesday will allow any District establishment with a liquor license, including restaurants and nightclubs, to serve alcohol until 5 a.m. That's three hours after the usual closing time.

In addition, eateries in the national capital can serve food round-the-clock from Jan. 17 until the morning after Obama's swearing-in on Jan. 20.

By a 9-to-4 vote, council members approved the measure, saying Washington must be able to meet the entertainment demands of the Obama inaugural revelers. 

The idea for extended hours came from the Restaurant Association of Metropolitan Washington. Restaurateurs argued that Obama's inauguration is a once-in-a-lifetime event worthy of special rules.

Supporters also cited similar actions by other cities. During this summer's Republican National Convention in St. Paul, Minn., eight bars and restaurants were allowed to remain open until 4 a.m.

Not everyone is happy about it, including some who complained that the council did not seek public input.

The city tax collector, however, probably is pleased about the temporary extension of bar and restaurant hours. Not only will D.C. businesses and employees rake in more income that will translate to more corporate and personal income taxes, the District collects a 10 tax on restaurant meals and liquor served for on-premises consumption.

Of course, some of that tax money undoubtedly will go to pay overtime for all the police officers who'll be assigned to make sure the merriment doesn't get out of hand!

You can read more on the extended partying hours in:

And to see just how much in taxes Washington, D.C., and the 50 states levy on alcoholic beverages, check out the Federation of Tax Administrators' fact sheets on excise tax rates for liquor, wine and beer.

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