Don't Mess With Taxes

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.

Tax Carnival #51: No Fooling Around

No fooling folks, tax filing day is almost upon us. April rolls in tomorrow. The 15th will be here before we know it.

Sure, some tax laws (and those who make them) certainly seem foolish. But we taxpayers swear that this year, we won’t be fooled by the confusing tax code.

To help fulfill that vow, the 51st Carnival of Taxes isn’t fooling around when it comes to information to help you get your 2008 taxes in order and in on time,

So, with time short, let’s get right to Tax Carnival #51: No Fooling Around.

Peter cautions Time To Do Your Taxes? Some Services Charge More The Longer You Wait! It's posted at Bible Money Matters.

Similarly, Money Tipper encourages us to File Taxes Early to Save on Filing Fees, posted at Money Tipper.

Arohan suggests we check out the Tax Preparation Checklist, posted at Personal Dividends.

FIRE Finance discusses FREE TaxACT Software Download, posted at FIRE Finance.

Want more software info? Billeater presents 2008 Tax Software: Save Big Filing Your Taxes with A Little Research, posted at Billeater.

Diego Cervantes presents The Free Online Tax Filing Toolbox: 25 Sites for Tools, Printable Forms, Software and More, posted at Bankling.

Madison looks at Tax Deductions for the Self Employed, posted at My Dollar Plan.

Pinyo asks, and answers, Do You Have To Pay Taxes On Unemployment Income? It's posted at Moolanomy.

RC presents Don't Let Last Year's Stimulus Check Mess Up Your 2008 Tax Return, posted at Think Your Way to Wealth.

Sun tells us What You Need to Know about Early Withdrawal from Retirement Accounts, posted at Earn More Invest Wisely at The Sun's Financial Diary.

Jeff Rose lists 5 Tests To Claim a Dependent On Your Tax Return, posted at Good Financial Cents.

FMF shares his property tax assessment battle in I Fought the Law and the Law (Mostly) Won, posted at Free Money Finance.

Steve Patterson presents Ten Tips To Deducting Charitable Gifts, posted at 2008 Taxes.

RateNerd takes a look at New Tax Breaks From The Economic Stimulus Bill of 2009, posted at Rate Nerd.

Wenchypoo presents Omnibus Obama Tax Avoidance Tip Sheet and Small Loophole Collection, posted at Wisdom From Wenchypoo's Mental Wastebasket.

Silicon Valley Blogger presents First Time Home Buyer Credit, Cheap Property Market: Time To Buy A House! It's posted at The Digerati Life.

Patrick @ Military Money presents 2009 Federal Economic Stimulus Package, posted at Military Finance Network.

Jeff Tilley presents Audited! How Long Does The IRS Have? Find the answer at IRS Tax Problems.

Matthew Paulson presents IRS Debt Collecting Outsourcing Program Fails Miserably, posted at Fine-Tuned Finances.

Ben presents What Taxes Do You Owe on Your Investments? It's posted at Money Smart Life.

jim presents IRS Safe Harbor Income Tax Underpayment Rule, posted at Bargaineering.

RB has a tip for graduates in Save on Taxes, posted at RecessionsBlow.com.

Jacqulyn Richey presents Renewable Energy and Energy Efficiency Tax Credits, posted at Las Vegas Homes.

nickel presents Are Unemployment Payments Taxable? It's posted at fivecentnickel.com.

Steve Patterson presents Use your Home Office as a Tax Deduction in 2009, posted at 2008 Taxes.

Len Penzo presents Many Who Prefer IRS Tax Rebates Are Crazy Like A Fox, posted at LenPenzo.Com.

Although here in the U.S, we’re fixated on our taxes, a couple of international posters have some other perspectives.

Gavin R. Putland presents Employment tax credits: the 'marginal' approach to full employment, posted at On Line Opinion.

Vic presents Indonesia Sunset PolicyTax Amnesty, posted at Medan City Indonesia.

Bailouts and all the implications are still are generating comments.

Peter offers us More Thoughts on Congress’ Proposed Special Taxation of AIG Bonuses, posted at The Tax Lawyer's Blog.

Michael Haltman presents Pop The Economic Pimple While The Cancer Runs Wild, posted at The Political and Financial Markets Commentator.

If you just aren’t going to get your taxes done by April 15, then Maya suggests you take a look at WalletPop's review of a software program that helps you file for an extension.

And we close this Carnival with Madeleine from Mad Kane's Political Madness, who has discovered Finally, An Up Side To Filing Tax Returns.

Here's hoping that some of these posts will help you get your Form 1040 completed soon. But just in case, we'll be back in two week, just two days before the filing deadline, with some final filing season tips.

You can be a part of the 52nd Carnival of Taxes on Monday, April 13, by submitting your tax-related item via our Blog Carnival page. Before doing so, you might want to check out our guidelines, as well as peruse previous carnivals.

I look forward to hearing from you and seeing all y'all back here at the next Carnival of Taxes.

Tax Carnival and travel tax breaks

I finally made it home last night, much later than I have planned. But at least I got home, in one piece and, once I finally walked through my front door, in much better spirits.

As you might recall, I popped up to Oklahoma City for a Taxpayer Advocacy Panel Town Hall meeting on Thursday. The meeting went well. We had a decent crowd, especially considering that most Sooner State residents were a bit preoccupied with the impending blizzard.

Ah, yes. The Oklahoma blizzard of March '09. I can say I was there. Actually, the OKC area didn't get hit with much snow, but driving thunderstorms soaked the metro area and the winds were brutal. Add temperatures hovering around freezing, and travel of all types was a pain.

So as much as I enjoyed the TAP meeting and spending some time with my panel colleagues, National Taxpayer Advocate Nina Olson and her staff, and my mother, I was plenty ready to get home on Saturday.

Unfortunately, the travel gods decided to may my return a tad more tedious than I wanted.

See that snapshot there to the left? Yes, it's blurry; I took it with my cell phone camera and obviously didn't hold the thing steady. But the colors are the key.

All those red blocks indicated flights canceled Saturday morning at Will Rogers airport.

Lucky for me, my flight was a bit later in the day. But the tail end of the front that brought inclement weather to Oklahoma also produced high winds in the Dallas area. And yes, I had to short hop from OKC to Dallas to connect to my Austin flight.

There's a saying here in Texas that when you die and go to heaven (or the other direction ...), you'll have a layover in Dallas. But I digress.

So we were held at Will Rogers to accommodate landing issues at DFW. Because of that, I expected to miss my connection, but it also was delayed so I got on the plane. Then that flight proceeded to sit at the gate for almost another hour before we took off.

The point of my rambling, aside from still venting a day later, is to say I am tired. I finally got a decent night's sleep in my own bed, but am still a bit out of synch.

That's not a good way to feel right now, as I have a lot of stuff left to do before tomorrow, including write a story and finalize a presentation I'm slated to give to a local small business group tomorrow night.

In light of that, Tax Carnival #51 is going to have to take a cue from flight controllers and be delayed. It's supposed to go up tomorrow, but instead, I'm slotting it for a Tuesday take off.

In keeping with the aeronautic theme, I'll paraphrase the flight attendants' usual spiel: I realize you have a choice of blogs to read, so I do sincerely appreciate your choosing Don't Mess With Taxes. And I especially appreciate your understanding and patience for this brief Tax Carnival postponement.

Deducting travel expenses: My trip to OKC for TAP wasn't technically business travel. And the panel picked up my expenses.

But I've been thinking about business travel of late because, as I mentioned, I'm going to be speaking with small business folk tomorrow night about tax breaks they can utilize.

Business travel is a good one to claim. Any form of travel for business that is indeed for a legitimate business purpose -- the IRS phrase is "ordinary and necessary" -- counts. Just be sure to carefully document, document, document.

If you drive for business, keep a notebook in your vehicle to record the date, mileage, tolls, parking costs and the purpose of your trip, including with whom you met.

When deducting vehicular business travel, you have two options. You can keep track of actual auto expenses, such as fuel, depreciation, garage rent, lease payments, registration fees and repairs.

Or you can record your mileage and then use IRS per-mile amounts, known as the standard mileage rate, to figure your business travel deductions. In this case, you would keep track of all your business miles and then multiply them by the standard rate, which the IRS establishes at least annually.

For 2008 tax purposes, there were two business travel rates (thanks to a summer increase to reflect high gasoline prices):

• 50.5 cents per mile for travel between Jan. 1, 2008, though June 30, 2008, and
  
• 58.5 cents per mile for travel between July 1, 2008, through December 31, 2008.

For 2009, the business mileage rate is 55 cents per mile.

If you use the standard mileage rate for a year, you cannot deduct your actual car expenses for that year. But you still can add parking and toll costs to the standard amount.

If you're flying, you need your ticket receipt, of course, and then track the business purpose and people with whom you met.

The documentation can be a tax lifesaver. Say, for example, you fly out to meet a client but you arrive to find that he's had to reschedule until the next day. That extra night's stay and associated business costs are deductible.

Meeting over meals: You'll want to keep track of your meals, too. Any business related dining is also deductible, but only at a 50 percent rate. Again, make sure that you do indeed discuss work over the meal.

The travel doesn't even have to be yours to qualify. Flying a potential employee to see your company or a client to your offices is an example of a travel deduction. All expenses in relation to his visit are deductible. 

Mixing business and pleasure: But don't try to disguise personal travel as business. You can't head out to a golf resort for a week and simply schedule a few business-related meetings about the day's 18 holes. The IRS knows the difference between a vacation and business travel and its examiners are not afraid to call out such aggressive deduction tactics.

However, if you do tag some personal time onto a business trip, that won't invalidate you legitimate business deductions. In fact, your travel costs to and from the business meeting still count in full. You just have to pull personal costs out of your other business travel amounts.

Let's say, for example, I flew to OKC on Thursday to attend a business meeting. I met with the Taxes R Us Corp. on Thursday and Friday. Saturday I spent the day with my mother. Then I flew back home on Sunday.

My total round-trip airfare is deductible. So are my hotel costs Thursday and Friday night, as are half of the tabs for meals over which we discussed business projects.

My room Saturday night, however, is a personal expense. But that's a great deal, as that's the only non-work cost I incur. Mom took care of feeding me on Saturday and I made her happy by spending some time with her.

The same rule applies if you bring the spouse and kids along on your business trip and then get in a day at an amusement park. You'll have to pick up the family's extra personal expenses, but as long as you are truly doing business before or after the purely personal portion, some of your costs are still deductible.

You can read more about business travel breaks and requirements in IRS Publication 463, Travel, Entertainment, Gift, and Car Expenses.

Tax Carnival #50: Spring Tax Showers

Last week, Central Texas finally got some much-needed rain. It wasn't nearly enough to break our persistent drought, but here in Austin, we'll take any drops of moisture we can get!

Much the same situation apples to tax information. While it often seems we're drowning in tax filing responsibilities, there's always room for a steady flow of more tips on how to reduce what we owe the IRS.

Well, we aim to please here at the ol' blog, so welcome to Tax Carnival #50: Spring Tax Showers.

Here's hoping this sprinkling of tax bloggings will help you grow some sizable savings that are as pleasing as the spring flower photos scattered in this latest Carnival of Taxes. Unlike the hubby, who's a more orderly gardener, I like my flora -- and tax clippings -- in a bit wilder array. So in no particular order, I present for your reading pleasure our Carnival's tax bouquet.

We begin with nickel who, given the recent economic concerns, asks a sadly appropriate question: Are Unemployment Payments Taxable? Get the answer at fivecentnickel.com.

Jeff Tilley presents IRS Non-Filers, Part II, posted at IRS Tax Problems.

David Fontaine offers up What You Should Know Before You Roll Over Your 401k, posted at David Fontaine.

Another good question and answer comes from Destroy Debt: Can You Claim the $8,000 Credit for First Time Home Buyers? It's posted at Destroy Debt.

More on nest eggs, this time from Fine-Tuned Finances who presents  How to Get Tax Credits and Tax Deductions by Saving For Retirement. It's posted at Fine-Tuned Finances.

Ezra Swerdlow says that ideology and crisis are opening a door to a new dialog and the basis for a new and smarter tax policy. Details posted at Rough Fractals.

Steve Patterson has an intriguing suggestion: Don't Take Your Losses! Find out why at 2009 Taxes.

PT is chock full of good info with Tuesday Tax Tip: A Collection of Tax Tools, Calculators, and Guides, posted at Prime Time Money.

Hmmm. It seems a lot of folks are looking to retire. The Smarter Wallet presents Your Retirement Savings Account: How To Avoid Tax Problems. It's posted at The Smarter Wallet.

Dan Meyer has info on a new tax break, Partial Real Estate Tax Deduction Available Even for Non-Itemizers, posted at Tick Marks.

Help filing is always welcome, and several bloggers have tips for the Carnival.

FMF presents Review: TaxCut 2009, posted at Free Money Finance.

Surfer Sam presents wonders Who Will Prepare Your Income Tax Return This Year? Ten Questions to Ask Your Income Tax Preparer, posted at Surfer Sam and Friends.

And Silicon Valley Blogger shares Preparing My Income Tax Return: How I Organize My Tax Documents. Get the scoop at The Digerati Life.

Some of our contributors also have given us some things to think about in addition to our regular filing duties.

Chief Family Officer presents The Return of the Marriage Penalty? You'll can find out yea or nay at Chief Family Officer.

Inquiring minds want know the answer to Jim's question: What Law Requires Us To Pay Taxes? Find the answer at Bargaineering.

David Gross takes a look at the new IRS Data Book and notes how tax delinquency and IRS enforcement efforts have been changing over the past several years. David's analysis is posted at The Picket Line.

And we close our spring tax shower extravaganza with the fittingly-named Jeff Rose, who tells us about 9 Tax Changes Affecting Individuals for 2009, posted at Good Financial Cents.

After such a bountiful collection, I'm going to stop for a while and smell the roses, the photo of which is included here comes from the hubby's hard work in our back yard. Thanks to all our contributors and of course to you readers.

The 51st Carnival of Taxes will be back here on Monday, March 30. By then many of us will be making the final push to get our returns done. You can help out by submitting your tax-related posting via our Blog Carnival page. Before doing so, you might want to check out our guidelines, as well as peruse previous carnivals.

And we'll see you back under the Tax Carnival tent in two weeks!

Tax Carnival #49: Marching to Tax Day

March has arrived, bringing us that much closer to the April 15 tax filing deadline. So this third month of the year provides the title for the 49th Carnival of Taxes: Marching to Tax Day.

March definitely came in like a lion, with taxpayers and tax experts alike roaring about the many tax provisions of the new American Recovery and Reinvestment Act of 2009.

Kim Greenblatt brings us The Fed Stimulus Deal Explained, posted at profitable.

Patrick at Cash Money Life presents Personal Tax Breaks in the 2009 Economic Stimulus Plan, posted at Cash Money Life.

Debt Freedom Fighter asks The Economic Stimulus Package: What Does it Mean to Me? Find DFF's answer at Discover Debt Freedom.

Nickel presents Taxpayer Benefits in the Economic Stimulus Package, posted at fivecentnickel.com.

Super Saver wants to know Tax Cuts in Stimulus Bill - Who Gets Help? Learn who at My Wealth Builder.

Several Carnivalistas got stimulus specific, with the new first-time homebuyer credit a popular topic.

Peter presents First Time Homebuyer Tax Credit of $8,000 in 2009 Economic Stimulus Package, posted at Bible Money Matters.

Madison presents $8,000 First Time Home Buyer Tax Credit, posted at My Dollar Plan.

Joe Manausa presents First-Time Homebuyer Tax Credit, posted at Tallahassee Real Estate Blog.

Fine-Tuned Finances presents Get an $8,000 Tax Credit for Buying Your First Home in 2009, posted at Fine-Tuned Finances.

Jacqulyn Richey presents First Time Home Buyer Tax Credit, posted at Las Vegas Real Estate.

The workers' tax credit captured the attention of David Weliver, whose post $400 or $800 Making Work Pay Tax Credit can be found at Money Under 30.

Michael Cintolo has some issues with recent tax legislation in Tax Credits Sound Good, But .... It's posted at The Iconoclast Investor.

Silicon Valley Blogger presents My Stimulus Tax Credit: Should I Spend or Save My Tax Break? It's posted at The Digerati Life.

Recovery.gov tracks how our tax dollars could be spent. That’s a good intention, says Ellie Fields, but there’s room for improvement and offers suggestions in The Viz Police: Improving Digital Democracy on Recovery.gov. It’s posted at the Official Blog of Tableau Software.

Some previous legislation that's been extended is the subject of a post from Reba Haas, who takes a look at the extension of some provisions of the Mortgage Debt Relief Act. Details are in A small bit of good news for homeowners selling in short sale position, posted at Team Reba Real Estate.

And Dan Meyer looks at the new president's first budget in Obama: Tax Increases as a Part of Raising Revenues to Reduce the Budget Deficit. It's posted at Tick Marks.

Speaking of revenue, Barbara Brabec presents Tax Tips for Hobby Sellers: Are You "in Business" or Not? She looks at the tax implications of selling items made as a hobby. It’s posted at Handmade for Profit - Cashing in on Your Creativity!

What about not working any more? Several Carnival contributors look at retirement related tax situations.

Junior Boomer presents Required Minimum Distributions For Boomers, posted at Consumer Boomer.

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

Are you maxing out your 401(k) and IRA contributions every year and want a way to save more for retirement using a pretax method? Bank CD Rates says another way of stashing away pretax money for your retirement is in a health savings account (HSA). Read more at Health Savings Account as a Retirement Account? It’s posted at MonitorBankRates.com. 

Several of our Carnivalistas bring us some tried and true tax tips.

Steve presents The Smart Way to Give, posted at 2008 Taxes.

Matt takes a look tax-filing issues specific to post graduate students, especially medical students, in Filing Taxes as a Medical Student. It’s  posted at Finance for Physicians.

Kathryn presents Freelancer's Guide to Important Tax Deductions, posted at KathrynVercillo on Bukisa.

And Jeff Tilley tells us what happens if you don’t File Your Return on Time. It’s posted at IRS Tax  Problems.

Dave looks at some folks who reportedly did more than just miss a filing date in Tax Cheats, posted at Cheapo Groovo.

Phil says If a tax were placed on gas to keep the price at least $4.00 per gallon, then this would have a lot of consequences, some good and some bad. More on those ramifications in The Merits of a Much Higher Gas Tax, posted at Phil for Humanity.

We get a global view of taxes from Lubna Kably, who presents Law Street in The Economic Times (February). The column, posted at Talking Tax, takes a look at the heart of the taxman.

Trevor Shipp presents 5 Things I Learned From My Nightmarish Tax Season Last Year. Find the horror story at Financial Nut.

Maybe some tax help can help you avoid tax season terrors.

The Smarter Wallet presents Hiring A Tax Advisor? Ask Your Tax Planner These Questions First, posted at The Smarter Wallet. 

FMF recommends Four Steps to Take Before You Hire a Tax Preparer, posted at Free Money Finance.

Beth Gladstone presents How to file your taxes for free with the help of VITA and Walmart/United Way, posted at WalletPop Blog.

Kathryn says you can Get Your Taxes Done for Free! It's posted at Out of Debt - Christian Finances and Debt Help.

FIRE Finance presents TaxCut - Up to 36% OFF Discount Coupons, posted at FIRE Finance.

Pinyo presents TurboTax Online Income Tax Preparation Software Review, posted at Moolanomy.

Then there are the many ancillary tax issues.

Live Money Smart presents Tax Refund Anticipation Loans: Convenience or Fraud? It’s posted at Live Money Smart.

Jim presents IRS Tax Payment Plan: Don’t Pay Taxes With A Credit Card, posted at Bargaineering.

The David presents E-Filing Your Taxes May Cost More Than You Think, posted at Pimp Your Finances.

Our 49th Tax Carnival is winding down, so let’s take it out on a more gentle, lamb-like note with some refund-related ideas.

Maybe we all can help out David, who wants to know What Should I Do With My Tax Refund? It's posted at My Two Dollars.

Deposit Accounts presents Get the Most Out of Your Tax Refund, posted at Deposit Accounts.

And WC wraps things up with the thought-provoking query, Is Getting a Tax Refund Good or Bad? It's posted at The Writer’s Coin.

So ends Tax Carnival #49: Marching to Tax Day. Thanks for reading. Here's hoping you gleaned some information that will keep your tax season on a gentle-as-a-lamb, smooth path, rather than making you roar like a like a lion in filing frustration.

Be sure to join us again in two weeks. Tax Carnival #50 will be posted on March 16. Be a part of it by submitting a tax item via our Blog Carnival page by 11 p.m Central Time on Saturday, March 14.

Tax Carnival is running late

Actually, it's the Tax Carnival hostess who is running late and, to be honest, is a bit overwhelmed.

The end of the month is always a very busy time for me thanks to some standing assignments. I usually manage to squeeze everything in, but this time I got squeezed for time.

Maybe it's because February is our shortest month.

Or maybe it's because I took on one (or two or three) more jobs than I should have.

Or maybe it's just because I finally decided I wasn't going to work 24/7 this past weekend.

Whatever, some things have to be pushed back. And the one that gets the biggest push, primarily because all the others involve pay and it doesn't, is the Tax Carnival.

But don't despair readers and contributors! I'll get to it, but it likely will be tomorrow at the earliest, and possibly not until Wednesday.

So I thank you in advance for your understanding and patience. And I promise you'll be e-walking the midway of the 49th Carnival of Taxes soon!

Tax Carnival #48: Presidents Day 2009

Happy Presidents Day! Thanks for taking some time out of your economy stimulating shopping to spend some time with us and the 48th Carnival of Taxes.

Money and presidents have always been connected. It takes cash to run for office. Getting there is usually easier when politicians promise voters that they'll cut taxes. And once in Washington, the president gets to help shape fiscal and tax policy.

In face, one of the presidents most closely associated with today's federal holiday is Abraham Lincoln. It was our 16th president who also signed the country's first income tax law.

Such monetary considerations are probably why most U.S. currency bears the visages of our presidents. In recent years, the U.S. Mint has given our bills and coins some face lifts. The latest to get a touch-up is the penny.

Lincoln's face will remain on the obverse (heads) side, but now there will be four new images on the reverse (tails) of the one-cent piece.

As part of today's Tax Carnival, you'll find images of the new pennies, along with other coins, sprinkled throughout the tax bloggings.

No, the coins are not appropriately scaled, as you can see by the size of this one-cent image. But you can find out more about each coin by clicking on the image.

Now to the two-cents (and more) worth of tax tips, advice and commentary contained in today's Tax Carnival #48, Presidents Day 2009.

Let's kick it off with a regular contributor with a particularly fitting name. Nickel presents Ten Common Income Tax Credits, posted at fivecentnickel.com.

Surfer Sam is thinking along those same lines, presenting Save Money on Your Federal Income Tax with These Credits and Deductions. It's posted at Surfer Sam and Friends.

And Live Money Smart says you can Maximize Your Federal Income Tax Refund, by claiming some commonly missed tax deductions and credits. It's posted at Live Money Smart.

If you're considering asking for help in finding all the available deductions and credits, several bloggers have some advice.

Adam, blogging at Your Money Relationship, asks an interesting tax help question: Need a Professional to Do Your Taxes? How About a Virtual CPA?

The Smarter Wallet presents Hiring A Tax Advisor? Ask Your Tax Planner These Questions First, posted at The Smarter Wallet.

DebbieDragon has some Tips for Choosing the Right Tax Preparation Service. It's posted at American Consumer News.

Want to go it alone? Check out Victoria's DIY Taxes, posted at Turbo-Mom's Guide to Saving Money Without Wasting Time.

Considering filing electronically. A couple of bloggers offer the pros and cons.

Jim offers Ten Reasons to E-File Your Taxes, posted at Blueprint for Financial Prosperity.

Matt, however, has his Top Ten Reasons to (not) e-File Taxes,  posted at Finance for Physicians.

However you file, some of our Carnivalistas examine issues related to money you get back after doing so.

Savings Toolbox presents What Should You Do With a Tax Refund? It's posted at  Savings Toolbox.

Patrick looks at What to Do About a Lost or Stolen Stimulus Check  posted at Military Finance Network.

Destroy Debt asks Are You One of the Lucky Ones with a Refund Coming Your Way? Find out what to do with it at Destroy Debt.

Housing issues are the tax topics of choice for some of our Carnivalistas.

Patrick presents Lower Housing Prices Equals Lower Property Taxes, posted at Cash Money Life.

Gavin R. Putland gets tough, saying property owners' attitudes to taxation inhibit growth in property values in Stupid property owners, posted at LVRG Blog.

James Payne presents Residential Energy Efficient Property Credit, posted at Solid Planning.

Stimulus payouts, both the money sent out last year and what’s ahead for 2009, got attention from several bloggers.

MBB presents Second 2009 Economic Stimulus Check For Obama? It's posted at Money Blue Book.

Monitor Bank Rates presents What's in the Stimulus Bill for You? Find out at MonitorBankRates.com.

Deposit Accounts presents Stimulating $400 Per-Worker Tax Credit for 2009 and 2010, posted at Deposit Accounts.

Silicon Valley Blogger dissects Obama's stimulus package and discusses how tax cuts and spending will affect us in Obama’s Stimulus Package: Details On Tax Cuts and Spending, posted at The Digerati Life.

"There's been a lot of confusion on how the Economic Stimulus gets handled on this year's taxes," noes FFB. "Here's the deal:" Paying Back The Economic Stimulus Payment - Lots Of Tax Confusion. It's posted at Free From Broke.

Sun presents How to Claim Recovery Rebate Credit on 2008 Tax Return, posted at The Sun's Financial Diary.

Just as there are many types of special currencies, there are special tax situations and laws.

Madison asks What is the Kiddie Tax? The answer is posted at  Kids and Money.

Wenchypoo presents Turning a $57,000 Salary into a Zero Tax Liability, posted at Wisdom From Wenchypoo's Mental Wastebasket.

Super Saver presents Retiring on the Cheap - Part II, One of the key factors is taxes. You’ll find it posted at My Wealth Builder.

Jeff Tilley warns Independent Contractors Beware, posted at IRS Tax Problems.

David Gross presents The Taxpayer Attitude Push-Poll, posted at The Picket Line.

Rob Stone presents the intriguingly broad topic Taxes, posted at VideoJug.

And we close with The Writer, who wonders, Paying Taxes: Are We All Hypocrites? Find out at the fittingly named, for this Carnival at least, The Writer's Coin.

Thanks for reading. We hope you picked up some information that will put a few more of the coins featured in Tax Carnival #48 in your pocket.

Be sure to join us again in two weeks. Tax Carnival #49 will be posted on March 2. Check out our submission guidelines. Then get your tax item to us via our Blog Carnival page by 11 p.m Central on Saturday, Feb. 28.