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Tax Carnival #23:
TaxtoberFest 2007

Willkommen, y'all! It's TaxtoberFest 2007 time!

Yes, autumn is here, according to the calendar if not yet the temperatures. So that means it's time to break out the lederhosen and tax law for our annual October issue of the Carnival of Taxes.

This is our 23th Tax Carnival, meaning we've had 18 editions since last year's first TaxtoberFest.

Oktoberfest_hat_3

Not to be too repetitive of that inaugural edition, but I couldn't invoke this fall tradition of food, fun and fine brews without noting a few of the many communities celebrating Texas' Germanic heritage:

Giant_sausage And if you missed some of the late September celebrations or can't make the October parties, there's always Wurstfest, a 10 day salute to sausage and Texas-German culture, Nov. 2-11 in New Braunfels.

Now that you've got your calendars marked for these fêtes, let's get to TaxtoberFest 2007.

We start with Joe Kristan, who writes the Tax Update Blog for Roth & Company. Joe warns that if you're not careful, your disability insurance payments could make you sick at tax time. And while you're over there checking out Joe's post, be sure to take in the Roth & Company's new look. Very nice, guys.

William Perez at About.com: U.S. Tax Planning offers us a comprehensive post to help all you tax-filing procrastinators get the job done by the fast-approaching Oct. 15 deadline.

In light of the current foreclosure epidemic, Allison at Queercents outlines the tax implications of losing your home to the bank.

Dan Meyer also looks at this complicated and frustrating tax area. In his blog Tick Marks, he notes that the IRS has developed a home foreclosure Web page where you can find advice on the potential for taxable income or gain in a foreclosure.

And Eric Stanley of Personal Finance Blog Articles warns that Making Your Mortgage Payments On Time Doesn't Mean Your Safe From Foreclosure, noting that in many cases homeowners find their taxes and insurance escrows are not routinely paid.

Robert D Flach, the blogosphere's WANDERING TAX PRO, has some other residential tax news that home buyers will want to check out in his post on some important points about points.

Beer_toast_2_3 Ah youth and college days, when every month was an Oktoberfest!

If you're a bit more serious about your education, then fivecentnickel.com is the spot to be. There, nickel offers a Q&A on Using IRA Funds to Pay Off a Student Loan.

Another IRA post comes from Dax Desai at the self-named Dax Desai blog, who talks about The Power of Self-Directed IRAs.

More retirement saving discussion comes from teaspoon at TeaspoonFinance.com, who advocates 401(k)s as a tax-smart budget moves in The No-Budget Budget Way.

Our TaxtoberFest also is full of other tips to keep your money out of Uncle Sam's hands, something to which we all can raise a bier and cheer.

Super Saver presents Reduce 2007 Taxes: Accelerate Deductions or Delay Income over at My Wealth Builder.

Matthew Paulson discusses How Flexible Spending Accounts Can Reduce Your Tax Burden over at Getting Green.

FMF from Free Money Finance sheds light on Above the Line Tax Deductions.

And all you wealthy blog readers will definitely want to check out  Tax Breaks for the Wealthy at DebtBlog. That's where Steve Faber offers his thoughts on how some politicians view this concept.

Speaking of the rich, if you happen to be in that category, you probably have some estate tax concerns, as well as a financial adviser to help you deal with them. Eric Hudin from My Estate Planning Career Blog, however, says estate planning is something everyone, regardless of income, needs and presents the Top 10 Reasons You Need A Trust.

A last will and testament also is a key part of any estate plan. Over at KCLau's Money Tips, KCLau takes a closer look at the Queen of Mean's,  AKA Leona Hemsley’s, will and what we can learn from the woman who declared "only little people pay taxes.

And we close this Tax Carnival with David Gross' examination of The 2008 War Tax Boycott, which he says "has been a tool of activists from the English Civil War and the American Revolution to the struggle for Indian independence and the grass roots fight against the Italian mafia." It's posted at The Picket Line.

Well, I hear the last oompah-pah strains in the distance, signaling the end of the 2007 version of TaxtoberFest. After we recover from the bier and brats, we'll be back next month, Nov. 5 to be precise, with the 24th Carnival of Taxes.

Be sure to submit your tax item for that collection by using our Blog Carnival submission form. You can read our submission guidelines here. You can check out past Tax Carnivals and see future dates (just in case you want to add them alongside your Oktoberfest notations in your calendar) at our blog carnival index page.

Danke for being a part of the celebration and auf Wiedersehen until next time!

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