Don't Mess With Taxes

Tax Carnival #59: Standard Tax Time

Are you all rested, what with one big extra hour of sleep? Good! Then you're ready for Tax Carnival #59: Standard Tax Time.

I'm still finding timepieces that need to be adjusted. And my personal body clock is going to be off-kilter for several more weeks.

But that doesn't mean we have time to waste when it comes to good tax information. So without further ado, let's get the clock running on the Standard Tax Time Carnival.

We start with some more immediate tax considerations.

This time of year, says Super Saver, is a good time to review 2009 financial status for tax return filing purposes. Doing so now gives you time to make any changes that can lower your taxes. Super Saver provides details in End of Year Tax Planning - Deductions, posted at My Wealth Builder.

Longer-term tax planning is called for when it comes to retirement savings. Several of our Carnivalistas tackle this important issue.

Looking for a flowchart designed to answer the tricky question of how distributions from a Roth IRA are taxed? Then check out Mike Piper's Roth IRA Withdrawal Rules, posted at The Oblivious Investor.

Madison presents 2010 IRA Limits and 401k Limits, posted at My Dollar Plan.

Evolution Of Wealth went searching for the supposed tax savings that go with contributing to a 401(k). Want to know what EoW found? Check out Tax Savings, The Finale, posted at, where else, Evolution of Wealth.

Jeff Rose wonders how many times you've wished for a "do over" or a "take back." That's not always possible, so you're stuck with the decision you made and the repercussions that come along with it. But not always. Jeff looks at a time when you can make changes in Can You Reverse/Undo a Roth IRA Conversion? It's posted at Good Financial Cents.

Nesher presents Retirement Planning: Tax Implications and Tax Strategies, posted at Planning your Retirement Smart Way.

What happens when today's needs collide with retirement plans? Whether you should halt your retirement contributions in order to focus debt is one of the most heavily debated dilemmas in personal finance, notes J.D. Roth. Variables such as age, career, risk tolerance, and even personality type make each situation unique. J.D. takes a closer look in Should You Stop Funding Retirement to Focus on Debt? It's posted at Get Rich Slowly.

And DR provides self-employed folks looking to save for retirement with SEP IRA Contribution Limits (2009 & 2010), posted at The Dough Roller.

We can't forget the ultimate tax planning topic: estate taxes.

People sometimes forget the 18 or so states that have a state estate tax, says Evan, who elaborates in Forget the Federal Estate Tax, You May Need to Worry About State Estate Taxes! It's posted at My Journey to Millions.

And Darwin considers fairness vs. favoritism in family money matters such as wills and gifting. Read more at Family Money -- Fairness vs. Favoritism in Gifting, Wills and More, posted at Darwin's Finance.

From the international tax arena, we have a look at foreign trust issues from Julia Kingston in A Matter of Trust, posted at Gray Matters.

More global taxes from Tom, who tells us that with Canadian federal political contributions, the percentage you get back is higher on the first dollars contributed and reduces the more you contribute in Federal Political Contributions. It's posted at The Canadian Finance Blog.

A couple of contributors tackle work-related taxes for the Standard Tax Time Carnival.

Dr. Jean Murray asks Do You Withhold Taxes from Independent Contractors? Get all the details at About.com Business Law/Taxes: U.S.

S Corporation entities offer several benefits to owners but can be complicated when it comes to filing tax returns, says Susan Tiner. She looks at S Corp Shareholder Basis, posted at Brain Dead Simple! Financial Organizing.

Taxes and who pays them is always an interesting, and debatable, question. A couple of Carnivalistas offer their takes on the topic.

Often times people look at the federal income tax and make an argument that the wealthy pay the heaviest tax burden, as a percentage of income, says MLR. But more inclusive data of all taxes shows that the total tax burden is pretty equal between the income groups. Over $40,000, it even seems flat. MLR examines the data in How Much Do the Wealthy Really Pay in Taxes? It's posted at My Life ROI, Getting the Best Return On Life.

FMF explores Who Doesn't Pay Taxes, posted at Free Money Finance.

Regardless of your income or tax bracket, why pay more taxes than you have to? Peak Personal Finance looks at Finding the Right Tax Balance, posted at Peak Personal Finance.

Tax bills can be lowered by tax credits and several Tax Carnival contributors explore one of the more popular new credits that's facing an impending time limit, the break for first-time home buyers.

Peter presents Lawmakers Push For An Extension Of The $8000 First Time Homebuyers Tax Credit Into 2010 In Proposed Bill, posted at Bible Money Matters.

Jim also writes about the possibly continuing credit in First Time Homebuyer Tax Credit Extension (HR 3842), posted at Bargaineering.

Dan Meyer makes it clear where he stands on the home buyer credit in Fool Us Once, Shame on You; Fool Us Twice..., posted at Tick Marks.

Another current concern generating a lot of tax-related talk is health care. Wenchypoo tackles that topic in Health Insurance Bills Could Be Hardship For Many. It's posted at Wisdom From Wenchypoo's Mental Wastebasket.

Well, a check of my recently reset wristwatch indicates that Standard Tax Time is winding down. But we still have a few minutes for folks who are ready for some 2010 tax planning.

Retirehappy presents 2010 Income Tax Brackets, posted at My Retirement Blog.

Those numbers also are of interest to MBB, who presents 2010 Federal Income Tax Brackets (IRS Tax Rates) at Money Blue Book Blog.

In closing, here's a Twitter comment posted Saturday night by Tax Carnival regular Robert D Flach, or as you probably know him, The Wandering Tax Pro. RDF, aka @rdftaxpro, makes a great observation about how the current time shifting affects those of us who are swamped during spring filing season, pros and amateurs alike:

It's a good point. Personally, I wish we'd just pick one time, Daylight or Standard, and stick with it year round. Days with 23 hours or 25 hours are just too confusing, not to mention really mess up all the timers I have in my house!

And with that, we are officially out of time at the 59th Carnival of Taxes. Thanks to all the bloggers who took time to contribute to the Standard Tax Time Carnival. Thanks also to all you readers for spending some of your time with us.

In December, we go to our biweekly Tax Carnival schedule, starting on Dec. 7. Join us for that notable day (can you guess what the theme will be?) as a reader or as a contributor.

Submit your tax-related item via our Blog Carnival page. Before doing so, check out our guidelines -- note that we're looking for tax-only articles, please! -- as well as peruse previous carnivals.

Tax Carnival #58: TaxtoberFest 2009

Willkommen, y'all, to Tax Carnival #58: TaxtoberFest 2009!

Our annual autumn Tax Carnival is one fine celebration. I mean, really, what's more fun than taxes and all the traditional accoutrements of one of the world's best parties?

So without further ado, let's get to it!

Bier, beer and cerveza
Hey, I am in Texas. And thanks to the many immigrants who've helped shape the Lone Star State, we get to celebrate TaxtoberFest in many languages and with many types of beer.

Although a German banner wasn't one of the six flags that flew over my home state, the largest European ethnic group in Texas, particularly here in the Hill Country near Austin, are Germans. And as for our neighbor to the south, the Austrian emperor Maximilian ruled much of Mexico for a brief time, leaving a refreshing legacy via the country's darker cervezas.

So we raise a TaxtoberFest toast to our several international Tax Carnival contributors.

Our tax-paying neighbors to the north share a popular tax break: medical expenses. Tom notes that "there are a few rules to claiming medical expenses, but with a little planning there are ways to maximize your claim." He provides details in Claiming Medical Expenses, posted at The Canadian Finance Blog.

David de Souza sends us a post that was inspired by a U.S. reader who is working in the U.K. The American's concern? How to Claim Back National Insurance, posted at the UK Tax Blog.

More international tax news comes from Julia Kingston, who says an IRS program with regard to foreign accounts could be a way to Get Out of Jail Free. Details are posted at Gray Matters.

And Lubna reminds us that "anything and everything can be taxed. Taxmen across the globe are getting more creative, when it comes to getting their share of the tax pie, more so, all in the guise of helping the tax payer. Will soda-tax really reduce obesity? One wonders ..." Lubna elaborates in Law Street in The Economic Times (Sept 2009), posted at Talking Tax.

Oompah-pah-pah
All the fine polkas and other traditional tunes are a great accompaniment to the following stimulus-related TaxtoberFest bloggings.

PT gets us started with a look at Tax Incentives Found in the American Recovery and Reinvestment Act, posted at PT Money.

Other Tax Carnival contributors this month specifically examine some of those stimulus tax provisions.

The Tennessee Association of Realtors reports that over 50 percent of home sales in the first quarter of 2009 were because of first-time home buyers. Emily Moser presents A Look at the Real Estate Situation in Knoxville, posted at Construction Management Degrees.

Madison presents Energy Efficiency Tax Credits, posted at Tax Gab.

It's not part of the latest stimulus package, but earlier tax legislation made a key change to the tax treatment of some retirement plans.

Maybe you've heard about the upcoming Roth IRA rollover opportunity. Just to make sure you know, we have a couple of Tax Carnival contributions on this topic.

Pinyo tells us why the impending Roth conversion chance is a big deal and why you should know about it in 2010 Roth IRA Conversion Rules, What is The Big Deal? It's  posted at Moolanomy Personal Finance.

And Mike Piper looks at a few circumstances in which it might not be a good idea to convert a traditional IRA to a Roth IRA, even if you're eligible. That info is in Should I Convert my Traditional IRA to a Roth IRA? It's posted at The Oblivious Investor.

Lederhosen
It's important to be properly attired for Taxtoberfest. And it's even more important to make sure you are covered when it comes to tax tips and advice.

"Too often tax advice is simply thrown around without much thought as to its completeness," says Eric J. Nisall. He aims to remedy that by providing what is commonly left out when folks talk about six common tax deductions. Full disclosure is found in The Truth Behind Tax Deduction Advice, posted at Let's Blog Money.

With the recent market volatility, a lot of investors have been buying and selling. But that could cause some tax problems if you run afoul of the wash sale rule. Darwin looks at what this regulation means for your trades and how you can work around it in a compliant fashion in  The "Wash Rule" in Investing and How it Applies to You. It's posted at Darwin's Finance.

Jeff Rose presents Don't Forget These Last Minute Tax Breaks for 2009, posted at Good Financial Cents.

Keep in mind, however, the words of Robert D Flach, who presents A TAX DEDUCTION IS ONLY WORTH WHAT IT IS WORTH, posted at THE WANDERING TAX PRO.

And when it comes to deductions, note well the words of Silicon Valley Blogger, who tells us Taking Income Tax Deductions? Track Tax Receipts When You Itemize. It's posted at The Digerati Life.

All those receipts naturally make us think about tax record keeping. FMF has some ideas on how long we all need to keep our actual tax returns in the appropriately titled How Long You Should Keep Tax Returns? It's posted at Free Money Finance.

Sausage, sauerkraut and spätzle
Some specific tax situations, some which are as elaborate as literal and tax sausage making, are the focus of this next group of tasty TaxtoberFest tidbits.

Super Saver offers info on Successfully Reduced Property Taxes, posted at My Wealth Builder.

David Gross offers an intriguing scenario: "I didn't pay my taxes, the IRS seized my bank account, adding interest and penalties, and I still came out ahead in the end. How does that work?" Find out in War Tax Resisters Penalty Fund, posted at The Picket Line.

Dan Meyer explains how QTIPs Remove Golddiggers from Your Heirs, posted at Tick Marks.

Dr. Jean Murray has some words of wisdom when it comes to that crucial area of Tax Evasion - Tax Avoidance. It's posted at About.com Jean's Business Law/Taxes U.S. Blog. 

What about work, that place you'll have to return to after Taxtoberfest festivities, and taxes? We've got that covered, too.

Patrick has some tips on who should pay self-employment taxes, how self-employment taxes are determined, and when you should pay them in Self Employment Tax Guide, posted at Cash Money Life

Kim says "a big question that comes up a lot is what does one do at tax time if one has been laid off?" She answers that inquiry in How To File Taxes If Laid Off, posted at profitable.

Steve presents Small Business Tax Savings? The Ultimate Small Business Startup Guide Part 4,  posted at MyWifeQuitHerJob.com.

One last bier for the tax road
Finally, we close out our TaxtoberFest 2009 celebration with information for all y'all who are already thinking about 2010 taxes. Jim presents 2010 Federal Income Tax Brackets, posted at Bargaineering (formerly known as Blueprint for Financial Prosperity).

Well, I hear the last oompah-pah strains in the distance, signaling the end of TaxtoberFest 2009. After we recover from the bier and brats, we'll be back next month, Nov. 2 to be precise, with the 59th Carnival of Taxes.

Be sure to submit your tax item for that collection by using our Blog Carnival submission form. Before doing so, please review our submission guidelines. You also can check out past Tax Carnivals.

Danke for being a part of the 2009 TaxtoberFest and Auf Wiedersehen until next time!

Blogging program note

I know I promised in yesterday's post on the 2010 e-file testing that I'd elaborate on electronic return submission today.

The best laid plans … .

Life has once again overtaken me and my editorial calendar. I have a story I must finish today, amid the chaos of repairs (well, actually demolition before repairs) of our post-water-heater-leak kitchen.

Then I go and find a story (actually, the hubby found it and passed it along; thanks, honey!) in today's New York Times that bears a bit of a timely blogging mention. Hint: It's about what is probably the world's most famous island tax haven.

This month's Tax Carnival also is looming. It's scheduled to go up on Monday, Oct. 5, and I haven't finished sorting through the submissions.

And it's the first Sunday of the month, when I usually take a quick blog detour to discuss my motorsports column. Preview: It's about ageless racing wonder Mark Martin and one of the mags has posted its digital edition if you're interested.

Whew!

So I'm taking a deep breath and rescheduling some things.

A little later this afternoon, I'll put up my post on the offshore tax situation.

The Tax Carnival will be posted tomorrow, but probably not until later in the afternoon.

The previously promised elaboration on e-filing developments will go up Tuesday, Oct. 6. (It's now posted!)

And the racing rants and raves of this Crazy Woman Driver will appear next Sunday in conjunction with NASCAR's Chase for the Championship visit to the Fontana, Calif., track.

Thanks for your patience and understanding. Now back to the grindstone.

Tax Carnival #57: Labor Day 2009

Labor Day is a holiday to recognize those who toil. Traditionally, these folks get some time off from the grindstone to relax. But there is no respite for Tax Carnivalistas.

So on this Labor Day 2009, Tax Carnival #57 spotlights the work of tax and personal finance bloggers.

Let's get right to it so we can clock out on time.

We start with Big Larry, who has the perfect topic for Labor Day: Are You Benefiting from the Making Work Pay Tax Credit? Find out at Out of Debt - Christian Finances and Debt Help.

One way to cut down on work is to have your money work for you. But BWL says "Way too much money is paid to Uncle Sam by investors who don't understand how to create a tax-efficient portfolio." To help remedy that, BWL presents Tax-efficient investing 101, posted at Christian Personal Finance.

Mike Piper also has investment tax info in Dealing with Unrealized Capital Gains. It's posted at The Oblivious Investor.

Joe Kristan relates the intriguing tale of The mysterious case of the 6,000 lb. minivan. You'll find the solution to the vehicular tax deduction at Tax Update Blog.

Bob Brooks presents Tax Receipts Report Largest Drop Since 1929, posted at Prudent Money Blog.

A lot of attention as been given to the individual tax breaks in the American Recovery and Reinvestment Act, better known as the stimulus bill, but Steve Patterson notes that the ARRA Provides Tax Benefits to Businesses, too. It's posted at 2009 Taxes.

We get more business tax talk from Stacie, who discusses how to Extend The Due Date To Pay Your Corporate Income Taxes over at More Tax Tips.

Did you cash in your clunker? Then you'll want to check out Madison's Cash for Clunkers Tax Rules, posted at Tax Gab.

Staying in the rebate state of mind, Darwin says Cash for Appliances is Coming - Hold Off on that Purchase! You'll find it at Darwin's Finance.

Jeff Rose presents IRS is My Hero: The Heroes Earnings Assistance and Relief Tax Act (the HEART or Heroes Act), posted at Jeff Rose.

Patrick is keeping his eye on the tax calendar and knows that the third 1040ES due date is next week, so he offers us an Estimated Taxes Guide, posted at Cash Money Life.

Pinyo also looks at the 1040ES process in Self-Employment Tax And IRS Estimated Tax Payment, posted at Moolanomy Personal Finance.

Another consideration for the self-employed and all other business folks is financing your operation. Peter Pappas explains why Commingling of Funds is Still a Horribly Bad Idea over at The Tax Lawyer's Blog

If you make a mistake with your estimated taxes or any other IRS filings, you could face penalties. In that regard, Dan Meyer shares the thoughts of tax professionals in AICPA: Make Tax Penalties More Fitting to Conduct, Less Punitive. It's posted at Tick Marks.

Most of us workers are hoping to one day retire. Sometimes, though, we need to tap those post-work savings early. If you must raid your retirement account, Jim explains how to Unlock Your IRA: How to Cash Out an IRA Without Penalty. It's posted at Bargaineering.

More retirement plan news comes the Carnival from nickel, who asks, 401(k) Limits to Decrease in 2010? Get the answer at fivecentnickel.com.

Paul Kamp has this warning: The Next Bubble: Your Taxes, posted at Don't Quit Your Day Job. "I try to cut through some of the partisan commentary and take a look at the raw numbers," says Paul. "The prognosis is grim. Your taxes will probably be increasing."

Did you spend part of your holiday fixing up your house? Silicon Valley Blogger brings us an oldie-but-goodie home-related tax post in Extreme Makeover: Home Edition Lessons, Pay Taxes On Your Winnings! It's posted at The Digerati Life.

Labor Day may be a U.S. holiday, but taxes are global. And we have several international tax topics in today's carnival.

Lubna says, "The Indian government has issue a Tax Code for public discussion and debate. India's current Tax Act dates back to 1961, with yearly amendments. Thus, there was time for a change. Except that the tax code is not progressive enough. It contains anti-avoidance provisions, but at the same time no participation exemption provisions. Foreign companies need to be cautious as even partial control and management in India would result in Indian tax residency. Post discussions, the new provisions are expected to be introduced in 2011." She offers more on the matter in Law Street in The Economic Times (Aug 2009) - Tax Code, posted at Talking Tax.

UK resident David de Souza notes that a lot of folks from the U.S. and elsewhere flock to his country each summer to work. In Claiming Tax Back When Leaving the Country, posted at UK Tax Blog. David highlights some of the way these people can save on their taxes.

More on Great Britain's taxes from oneadvice, who says, "Council tax counts as a priority debt which means it is important to make payments or you risk facing severe consequences." Get details at Council Tax Debt Advice, posted at One Advice.

Gavin R. Putland alerts his Oz neighbors that Payroll taxes levied by Australian States are probably unconstitutional. Details are posted at The Putland Tribune.

Regardless of where in the world you live, Robert D Flach who blogs as THE WANDERING TAX PRO, reminds us that there are few ABSOLUTES when it comes to taxes.

And now, with the three-day Labor Day holiday winding down, it's also time to close out the 57th Carnival of Taxes.

Let's do with a smile through our tax tears thanks to Wenchypoo's Hot Off the Spam Folder - The Tax Poem. The poetic look at a long list of taxes is posted at Wisdom From Wenchypoo's Mental Wastebasket.

Thanks to all the bloggers who contributed to the Labor Day Tax Carnival and especially to all you readers. We hope to see all y'all, bloggers and readers, back on the blog midway next month, specifically on Oct. 5, where we'll tax party at our annual Taxtoberfest Carnival.

You can join us in raising a glass of foamy tax goodness by submitting your tax-related item via our Blog Carnival page. Before doing so, check out our guidelines -- note that we're looking for tax-only articles, please! -- as well as peruse previous carnivals.

Tax Carnival #56: Dog Days of Summer 2009

August is here. That means we've settled into the Dog Days of Summer.

But today's Tax Carnival contains no tax dogs. It's full of lots of good advice.

So without further ado, let's get to the 56th Carnival of Taxes: Dog Days of Summer edition.

Here's a post to snap you out of your late-summer ennui. Bruce, otherwise known as taxguy, says there's No sure way to avoid an audit. But don't panic. He's got some tips in case a tax examiner comes knocking.

Peter Pappas, who writes The Tax Lawyer's Blog, chimes in on the federal collection agency's trust in taxpayer honesty in IRS Voluntary Disclosure is Working.

Dan takes a look at "the outrageous annualized penalties people pay to prolong a property tax payment by just a month or two when they could be getting a discount" in Property Tax Discounts and Penalties - Wow! It's posted at Everyday Finance.

Washington State readers with property tax questions will want to check out Reba Haas' video with details about those local levies. It's posted at Team Reba Real Estate.

The healthcare reform topic is on Rick Sincere's mind in To Sur, With Love. The post at Rick Sincere News and Thoughts "compares the current proposed healthcare surtax with Gerald Ford's failed surtax proposal of 1974."

One proposal to pay for healthcare changes is a "fat tax." In that vein, Jack Schmidt looks at The High Cost of Deep Fried Coke, posted at SectorMatic Money Journal.

Robert D Flach has an important announcement for al taxpayers: YOU ARE RESPONSIBLE! You'll find out why and for what at THE WANDERING TAX PRO.

Silicon Valley Blogger tells us Why The Rich Get Richer: An Entirely Different Perspective , noting that  "the rich get richer, partly because tax laws are friendlier towards them." It's posted at The Digerati Life,

We welcome first-time Tax Carnival blogger Mike Piper, who details the 2009 Income Limits for the Retirement Savings Contribution Credit over at The Oblivious Investor,

Several bloggers take a look at the Car Allowance Rebate System (CARS), aka cash for clunkers program, that now is awaiting more money from Congress.

At fivecentnickel.com, nickel presents Cash for Clunkers: Paying You to Junk Your Car.

Wenchypoo has some concerns about the tax cost of capturing depreciation in My View on "Cash-for-Clunkers."  It's posted at Wisdom From Wenchypoo's Mental Wastebasket.

And Jeff Rose looks at Cash for Clunkers Tax Rules, as well as other components of the gas guzzler trade-in program, over at Good Financial Cents.

Anthony Samuel presents A List of Tax Deductibles You Might not Believe. It's posted at Personal Finance Analyst.

Attention freelancers! Karawynn Long presents Quick and easy estimated income tax for freelancers, posted at pocketmint.

Pinyo presents Federal Tax Brackets, Marginal Tax Rate, and Effective Tax Rate — How Do They Work? It's posted at Moolanomy.

Tex says There Are Many Reasons Why You Should Seek Tax Help, posted at money market accounts.

You've heard of odd lots and big lots and lots and lots of other stuff, but jim asks, What Are Tax Lots? Find out at Bargaineering.

Shannon Anderson takes a look at Keeping Records for the IRS Audit. Details are posted at IRS Audits, Internal Revenue Service Audits.

David Gross wonders, "What happens when a sitting U.S. state governor decides to stop paying his federal income tax?" Find out in Tax resisting governor J. Bracken Lee, posted at The Picket Line.

It's time for some late summer tax commentary.

In Generation Theft, posted at Political Calculations, Ironman has developed a tool for a contest to project how much purchasing power a new college graduate will lose over the first 25 years of working life thanks to President Obama's ambitious spending plans. "The bad news," says Ironman, "it's all taken out of their taxes!"

Lubna Kably asks, in her July Budget Special of Law Street in The Economic Times, "If budget proposals introduce draconian provisions with retrospective effect, why can't corrective measures be with retrospective effect? India's recent budget proposals are riddled with such anomalies." You'll find it posted at Talking Tax.

Britannica Blog presents About Fixing the Economy: Obama, Weak; GOP, Clueless; the Masses: Distracted (by Michael Jackson, et. al) . The analysis is posted at Britannica Blog.

And we close with some 2010 tax prep advice.

My Life ROI, who in My Life ROI, offers us 5 Tips to Prepare for Next Year’s Tax Season. These tips, says MLROI, will help you "get ahead of the game on year's taxes. Don't put it all off!"

On that note, so ends the Dog Days of Summer Tax Carnival.

Thanks to all the bloggers who contributed and to you readers. We hope to see you back on the blog midway on Sept. 7 for our annual Labor Day tax festivities.

You can be a part of that upcoming 57th Tax Carnival, and future ones, 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.

Dog images courtesy of American Kennel Club

Calling all Tax Carnivalistas!

Tax Carnival #56 is fast approaching. It will go up sometime Monday, Aug. 3.

I long ago quit shooting for an exact posting  time, but I promise, it will be up before midnight on Monday.

You can be part of the as-yet-unnamed Carnival of Taxes by submitting -- by 11 p.m. Central Daylight Time Saturday -- your tax-related item via our Blog Carnival page.

Please note, I said tax-related. Not to be gritchy about it, but the weekend before each Tax Carnival is always ruined a tad by tons of non-germane submissions. You don't want to be one of those folks who makes my quasi days off less relaxing, do you?

So before sending me your Tax Carnival item, please check out the guidelines. You also can review previous carnivals for an idea of what we look for in posts.

Thanks for your help. And all y'all have a great weekend!

Tax Carnival #55: Tax Fireworks

Did the Fourth of July weekend end too soon for you? Then you've come to the right place.

We're keeping the fireworks going with some sparkling tax tips and tidbits in Tax Carnival #55: Tax Fireworks.

So while we still have a good supply of tax-themed Black Cat firecrackers, cherry bombs and Roman candles, let's light this fuse!

Here's an explosive statement to get the Carnival started: I Forgot To File My Taxes. Get all the details from Jeff Tilley at IRS Tax Problems.

ChristianPF presents Roth IRA conversion in 2010? It's posted at Money in the Bible: Christian Personal Finance Blog.

Does this sound familiar? A new government is in place and it's time for a full fledged budget to be announced. Expectations run high, the common man is hoping for a lot of respite. The government has to focus on spending (medical, education, health care, infrastructure) at the same time. It cannot afford to tax more and reduce the purchasing power of the people. Some innovation is called for in tax planning.

Nope, it's not the U.S., it's India. And Lubna, who provided that synopsis, then offers a wish list of the common Indian taxpayer in Law Street in The Economic Times (June 2009). It's posted at Talking Tax.

Brent, Tax Consultant presents What About Penalty Abatement? It's posted at Tax Relief Solutions.

Patrick @ Military Money presents Tax Advantages of 529 College Savings Plans, posted at Military Finance Network.

Another educational tax tip comes courtesy of FMF, who presents Last-Minute Tax Savings for College Expenses. It's posted at Free Money Finance.

Madison presents Tax Credit for First Time Home Buyers Improved, posted at My Dollar Plan.

Robert D Flach presents WHAT HAPPENS IN AN IRA STAYS IN THE IRA, posted at THE WANDERING TAX PRO.

Sun presents Did TurboTax Miscalculate My Recovery Rebate Credit? Find out at The Sun's Financial Diary.

Mistakes usually mean you'll hear from the IRS. On that subject, jim presents What is an IRS CP2000 Clarification Letter? It's posted at Blueprint for Financial Prosperity.

Silicon Valley Blogger presents Tax Tips For The Working Stiff, posted at The Digerati Life.

Darwin elaborates on one of those worker tax breaks in Flexible Spending Account: Rules, Eligibility and Savings Explanation. It's posted at Darwin's Finance.

Tony asks Should we tax the tall more than the small? Find the answer at This Young Economist.

David R. Lampsen presents Tax Day Discounts: Celebrating the Un-Celebratable, posted at Personal Finance Analyst.

Finance Tips 101 presents Car Donations? Knowing the Facts, posted at Finance Tips 101.

nickel presents $15,000 Homebuyer’s Tax Credit is Back on the Table, posted at fivecentnickel.com.

David Gross presents Fox News coaches conservatives in income tax resistance, posted at The Picket Line.

Dan Meyer presents Update on the Work Opportunity Credit (Form 8850), posted at Tick Marks.

Jeff Rose presents How To Save On Your Property Tax, posted at Good Financial Cents.

David discusses Amazon's Online Sales Tax Dilemma, posted in his UK Tax Blog.

Dave presents IRS Moves to Ban Tax Returns Filed By All But ‘Experts.’ It's posted at Cheapo Groovo.

Another tax professional topic comes to us via the taxguy. In his blog of the same name, he takes a look at what has become a heated debate about tax professional credential perceptions and misperceptions in Righteousness in Designation? Be sure to check out the comments, where the fireworks continue.

And with that, we wind down the July Tax Fireworks Carnival. Thanks to all bloggers who contributed and to you readers. We hope to see you back on the blog midway next month, specifically on Aug. 3.

You can be a part of that, 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.

Tax Carnival #54: June Bug Tax Jottings

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.

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.

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.

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

Tax Carnival #53: Cinco Tax Celebración

Hola tax carnivalistas! And welcome to our 53rd Tax Carnival: Cinco Tax Celebración.

Today's fortuitous meeting of taxes and Cinco de Mayo offers the perfect chance to party. And party is what you think of when you think of taxes, right?

OK, even I realize that might be a bit of a stretch. But, hey, after a few Margaritas, even the Internal Revenue Code is a fun read!

We've got a full tax house, with lots of different perspectives on lots of different tax topics, so let's get this tax fiesta started.

Madeleine Begun Kane presents Dear IRS, posted at Mad  Kane's Humor Blog.

Vanessa Wolf presents My Best Tax Tips! They’re posted at Wide Awake in Wonderland.

Kathryn presents Free Money from the Government, posted at Out of Debt - Christian Finances and Debt Help.

Big Cajun Man says sometimes owing a five-figure tax bill, isn't as bad as it could be. Get details in Time to Pay the Tax Piper? It’s posted at Canadian Personal Finance Blog.

Super Saver presents Claiming a Parent as a Dependent on a Tax Return, posted at My Wealth Builder.

Beno Varghese presents An Average Person’s Tax Dollars, posted at BenoVarghese.com.

Jeff Tilley presents IRS Tax Penalties, posted at IRS Tax Problems.

Ben presents Taxes Are a Necessary Evil in Life, posted at Money Smart Life.

Patrick presents Free Tax Deadline Extensions for Military Personnel, posted at Military Finance Network.

Ryan Suenaga presents What Tax Deductibility Really Means, posted at Uncommon Cents.

Peter presents Don’t Forget To Make Your Estimated Tax Payment For Self Employment Income! It’s posted at Bible Money Matters.

MBR presents First time home buyer Tax Credit, posted at MonitorBankRates.com. 

Matthew Paulson asks Do You Need a Second Chance on Your Tax Return? It’s posted at American Consumer News.

FFB presents Tax Season Is Finally Over! Or is it? Find the answer at Free From Broke.

Jeff Rose presents 7 Things To Know About The 2010 Roth IRA Conversion, posted at Jeff Rose.

Nickel presents Making Work Pay: Tax Credit Results in Reduced Federal Income Tax Withholding, posted at fivecentnickel.com.

Madison presents Solar Energy Tax Credits, posted at My Dollar Plan.

Peter Pappas presents Revenge of the Nerds II, or 3 Reasons State Tax Authorities are Worse than the IRS, posted at The Tax Lawyer's Blog.

Kevin presents Prepare for Your 2009 Tax Return Today, posted at No Debt Plan.

Sun presents Check Your Tax Refund Status Online, posted at The Sun's Financial Diary.

David Gross says the percentage of Americans who will be “lucky duckies” is likely to jump this year. A projected 43.4 percent of non-dependent Americans will owe no federal income tax. He has details The Picket Line.

Robert D Flach presents The American Recovery and Reinvestment Act of 2009 – What's New for 2009 - Part II, posted at THE WANDERING TAX PRO.

FMF presents How to Select a Good Tax Professional, posted at Free Money Finance.

RateNerd presents How to Erase up to $2M in Debt Tax Free - How The Mortgage Debt Forgiveness Act Works, posted at RateNerd.

Praveen presents Illinois Governor Tries To Eliminate Flat Income Tax, posted at Simple Trading System.

The Smarter Wallet presents Charitable Giving: How To Make Your Charity Donations Count For More, posted at The Smarter Wallet.

Silicon Valley Blogger presents Tips On Claiming Your Tax Deductions for Business and Charitable Contributions, posted at The Digerati Life.

Ray presents Federal Income Tax Brackets, posted at Money Blue Book Blog.

Dan Meyer presents Staunch the Sweat (slightly): IRS Ideas on How to Handle an Audit, posted at Tick Marks.

The tax costs of things are examined by several of our tax blog contributors.

Jim talks about Buying Municipal or State Bonds, posted at Bargaineering.

Wren Caulfield presents A Macro Perspective: One way war keeps poor people poor, posted at True Adventures in Money Hacking.

Lubna says no corporate entity is able to survive today without cost cutting. “Upholding corporate values means being responsible for your taxes and those of your employees. Why should honest companies bear a higher administrative burden? Punish the irresponsible, don't burden the responsible,” she says in Law Street in The Economic Times (April). It’s posted at Talking Tax.

Britannica Blog presents Do Americans Support Capitalism, and Which Capitalism? It’s posted at Britannica Blog.

And on that note, our Cinco de Mayo tax party winds down. Thanks for dropping by. We'll be holding similar soirees each month, with our next get-together scheduled for June 1.

You can be a part of that upcoming Tax Carnival #54 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, gracias for joining us today and adios!

Tax Carnival #52: Time's almost up!

Can you believe tax-filing season is almost over? What's that saying? Time flies when you're having fun.

OK, so maybe filing taxes isn't everyone's (anyone's) definition of fun … except for a few of us die-hard tax geeks. But I do hope that you've had a few smiles amid the tax info on the ol' blog these last few months.

Our regular Tax Carnivals are a big part of our infotainment program. And today's edition is the final one for the 2009 filing season: Tax Carnival #52: Time's almost up!

Since this is being posted a bit later than I had planned or hoped, I'm going with a spare treatment. This "just the facts, ma'am" approach seems fitting as April 15 bears down. So here goes.

Jim of Bargaineering: How to Request an IRS Filing Extension.

Patrick of Cash Money Life: How to File a Tax Extension.

George L Smyth of One Minute How-To: How To File A Tax Extension.

Ben of Money Smart Life: Filing for a Tax Extension is Easy.

Dan Meyer of Tick Marks: House Small Business Committee Challenges IRS on Frequency of Small Biz Audits.

Mike G of Money TLD: Don't Spend Just To Get the Tax Deduction.

Jeff Tilley of IRS Tax Problems: IRS Withholding Allowances.

MyJourney of My Journey to Millions: Tax Mechanics of Intra-Family Loans.

Super Saver of My Wealth Builder: A Roth Conversion Strategy For a Declining Market.

The Barefoot Badger of The Barefoot Badger: An environmental tax to reveal a product’s true cost?

John Howshall of John's Investing Tips: What To Do With Your 2009 Tax Refund.

ChristianPF of Christian Personal Finance Blog: The $8000 tax rebate for first time home owners is just one reason to buy.

Madison of My Dollar Plan: Will the $15,000 Home Buyer Tax Credit Return?

Sun of The Sun's Financial Diary: Fees Charged for Using Credit Cards to Pay Taxes are Deductible.

Tushar Mathur of Everything Finance: Health Savings Accounts explained.

mbhunter of Mighty Bargain Hunter: Don't guess on your taxes.

Silicon Valley Blogger of The Digerati Life: Get A Tax Refund, Pay Taxes With Plastic.

Steve Patterson of 2008 Taxes: Four Errors Made Often on Tax Returns.

David Fontaine of David Fontaine, CFP: How High Can You Stack Your IRA Contribution in 2009?

Peter of Bible Money Matters: Adjust Your Paycheck Tax Withholding To Keep More Money In Your Bank Account.

Jeff Rose of Good Financial Cents: Last Minute Tax Deductions and Credits 2008.

David de Souza of UK Tax Blog: Chocolate Tax Rejected in Time for Easter!

And there you have it. If you've filed your 2008 return, congratulations!

If you're still working on it, I hope some of these Tax Carnival items help. You also check out these last-minute filing tips and warnings.

And I hope you'll stick around Don't Mess With Taxes long after your 2008 Form 1040 is in IRS hands. Tax laws are always changing. Tax planning is key to hanging onto more of your hard-earned cash. And there's the 2010 tax season to look forward to.

Plus, while filing season is over (for now), the Tax Carnival circuit will continue. We're going back to our monthly schedule, starting with the May 4 edition.

You can be a part of the 53rd Carnival of Taxes on that first Monday in May 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.

Here's to a happy end of filing season 2009. I look forward to hearing from you and seeing all y'all back here at the next Carnival of Taxes.