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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!

December 2009

Sun Mon Tue Wed Thu Fri Sat
    1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31    

Tax Calendar

  • April 15 has come and gone.
    So has Oct. 15.
    But there still are moves
    to make in 2009
    to lower your coming tax bill.
    And there's plenty of
    2010 tax planning to do.
  • Each month you'll find tax dates, tips and moves to make between Jan. 1 and Dec. 31
    so you can save tax money
    all year-round.

    monthly tax moves

  • Dec. 1: You have 31 days to lower your 2009 tax bill. Let's get to it!

    Dec. 4: Do a mock 2009 return. If it looks like you'll owe the IRS too much or too little, get to your payroll office and adjust your withholding by turning in a new W-4.

    And remember to take the Making Work Pay credit into account when you're making your withholding changes.

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

    Dec. 14: How much money do you have in your medical flexible savings account? If you're facing an end of the year "use it or lose it" deadline, consider what medical treatments and medications you can pay for with FSA money so you don't waste your account contributions.

    Dec. 18: The stock market has recovered somewhat this year, so now's a good time to analyze your stock transactions. Roughly calculate your profits and losses so far in 2009 so that you can do some tax planning before the end of the year. Capital gains are taxed at lower rates, but even losses could help offset a potential IRS bill.

    Dec. 21: It's Christmas week!
    During this time of giving, consider putting your favorite charity on your gift list. If you itemize, your donation to an IRS-qualified nonprofit might also provide you a tax deduction.

    Dec. 24: Early to bed, kiddies of all ages. Santa's on his way!

    Dec. 25: Merry Christmas!

    Dec. 28: Homeowners, you still have time to maximize your residential tax breaks.

    Pay your January mortgage payment this year and deduct that extra interest amount on your 2009 return. Pay your real estate tax bill now, too, instead of next year and you also can write that off on your Schedule A.

    Dec. 31: It's 2009 tax deadline day.

    Self-employed workers considering a Keogh retirement plan must establish it by the end of the year to ensure that contributions for the 2010 tax year are deductible.

    And don't forget to drop off your charitable donations. To deduct them on your 2009 taxes, your gifts must be made by today.

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

  • How much tax time remains?
    2010 Tax Countdown Clock.

2009 Tax Guide

Carnival of Taxes

Horn tootin'

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  • 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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« Housing credit becomes down payment | Main | Hurricane season financial preparations »

Monday, June 01, 2009

Tax Carnival #54: June Bug Tax Jottings

June-bug-left2 Welcome to summer! The hottest season starts, at least unofficially, once we're past the Memorial Day weekend. Officially, the summer solstice arrives on June 21. And the ubiquitous brown beetles that herald warmer Texas temps have been here for a while.

But taxes, as we all know, have no season.

Sure, the first filing deadline is April 15. And the extended date to get in your Form 1040 isn't until mid-October. But effective tax planning is a year-round task.

So today's Tax Carnival #54: June Bug Tax Jottings celebrates not only summer's arrival, but also our continuing efforts to cut our tax bills. Before it heats up too much, let's get to it!

The Smarter Wallet discusses estate taxes and estate planning in Does Your Estate Plan Expect You To Die Broke? It's posted at The Smarter Wallet.

Silicon Valley Blogger presents Employee Retention Bonus Program Paid With Your Taxes! Thanks AIG. It's posted at The Digerati Life.

JuneBug2

Jim presents Adjusting Withholding via W4 Exemptions. The details are posted at Bargaineering.

Nickel shares a painful experience: Letter From the IRS - We Got Audited. Get the unwelcome event's details at fivecentnickel.com.

"Obama's recent international tax policy decisions seem to have upset the globalisation apple cart for US companies. Well, there are two sides to every story," says Lubna. She offers the full details in Law Street in The Economic Times (May 2009), posted at Talking Tax.

Jeff Tilley warns that correctly Reporting Income is crucial. Find out why at IRS Tax Problems.

Birds do it. Bees do it. But they don't have to pay taxes on it. Humans, however, must report some reproductive-related earnings says Kim Greenblatt in Is Sperm Donor or Egg Donor Income Taxable? It's posted at profitable.

Raag Vamdatt talks about Calculating your income tax liability - first step to saving tax. It's posted at RaagVamdatt.com Financial Planning demystified.

Junebug_left Peter Jones presents Tax Free Retirement: Planning for the Future in Today's Economic Times. It's posted at Great New Books that Are a Must Read.

CreditCardAssist.com presents Cut Your Tax Refund and Have Money For Bills. Find details posted at CreditCardAssist.com.

Robert D Flach presents HERE’S SOMETHING TO THINK ABOUT. Ah that RDF, he knows how to pique reader interest, doesn't he? Well, I won't spoil the surprise. The thoughtful post is THE WANDERING TAX PRO.

Ned Carey presents Help! My Home is going to tax sale. Details are at Baltimore Real Estate Investing Blog.

Super Saver presents Owe Taxes? Options for making payment. It's posted at My Wealth Builder.

MoneyNing presents Let Businesses Deal with Sales Tax - Government Improvement Series. It's posted at Personal Finance Blog by Money Ning.

FMF presents Four Home Upgrades Worth the Tax Break, posted at Free Money Finance.

Dead june bug (2) And on that note, the June Bug Carnival of Taxes comes to an end. Thanks for visiting. We hope to see you back on the blog midway next month, specifically on July 6 for some continuing tax fireworks.

You can be a part of our next (and future) Tax Carnivals by submitting your tax-related item via our Blog Carnival page. Before doing so, check out our guidelines -- tax-only articles please! --  as well as peruse previous carnivals.

Until then, enjoy these early days of summer and your tax savings!

Dead June bug photo ©2003 Tony Colter

Posted at 03:09 PM in Blog Carnival, Tax Carnival, Taxes |

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» Let's pretend it's not raining carnival from Roth & Company, P.C.
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Tracked on Tuesday, June 02, 2009 at 07:12 AM

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    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...
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    • See these and other tax terms
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    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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      When we moved back to Texas in 2005, the Lone Star State's impressive and eclectic music was a major consideration. So Austin, the Live Music Capital of the World, was really our only choice. We try to get to as many shows as we can, like every Joe Ely performance! But we also enjoy other musicians. Click here to see the full, and continually updated, list.

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