Organizations join effort to halt special
bailout bank loss tax rule
NASCAR supports Big Three auto bailout

Tax Carnival #43: Merry Taxes 2008!

This holiday season has gotten off to a particularly rushed start. I was in the D.C. area last week at the annual Taxpayer Advocacy Panel meeting (and still have some stuff from there I plan to share).

Meanwhile, I was working on my annual tax season gig with (click here to read the year-end tax moves story that I finalized while at TAP).

And then today all sorts of work (and a little personal) stuff bogged me down.

Christmas lights closeup (2) But, just like Christmas, the annual kickoff of our intensified Tax Carnival schedule will not be denied! Yes, it's time to resume Tax Carnivalizing (not to be confused with tax caramelizing; is that even possible?!) every two weeks instead of monthly.

The plan to post Tax Carnivals more frequently from December through April is because that's when more folks want more tax info. And we aim to please!

So, without further ado, here's our Tax Carnival holiday edition of Merry Taxes 2008!

With the year winding down, our first holiday tax tidbit comes from FFB, who presents 9 Year End Tax Savings Tips. They're posted at Free From Broke.

Need more tax tips? Cindy, The Money Mender, has just the present: 6 Ways To Get Ready for 2008 Taxes, posted at Mend Your Money.

Thursday Bram reminds us of the flip side of some year-end tax breaks in Pre-Payment Makes for More Tax Deductions — Sometimes, posted at Tax Hacks.

Holidays are a time for good cheer, and you'll get some chuckles out of Jim's advice in 5 Infallible Ways to Lower Your Income Taxes. Although Jim had his tongue firmly in cheek in writing the post, the underlying tax guidance posted at Blueprint for Financial Prosperity is serious.

Christmas tree larger (2) Roger from Tax Help for the Rest of Us has a tax gift that's no laughing matter. He's done a series on frivolous tax arguments and the first is The Voluntary Nature of the Federal Income Tax System.

David offers us another look at frivolous filings in his report from the National War Tax Resistance Coordinating Committee national gathering in Eugene, Oregon. Details at The NWTRCC Fall 2008 National Gathering, posted at The Picket Line.

Jeff wants to help us stay out of trouble so he's wrapped up Non-Deductible Taxes in a nice package posted at IRS Tax Problems.

Then there are those Tax Deductions You May Have Missed. This list, which comes courtesy of Big Larry, is posted at Out of Debt Christian.

Ever heard of a lock-in letter? Then Todd has a nice, or maybe not-so-nice, present for you in Can the IRS Require More Taxes From Your Check? It's posted at TaxDollarsAndSense.

Dealing with the IRS and unpaid taxes, or The Dreaded IRS Form 433F--The Saga Continues, is our Tax Carnival gift from Polly Poorhouse. The tale of tax angst is posted at Economic Crunch.

It is the season for giving, so Beckie presents Donations For Midwest Disaster Relief, posted at A Tax Consultant for All Seasons.

Santa across moon_color Sticking with the giving theme, FMF asks Do You Write off Your Charitable Contributions on Your Taxes? It's posted at Free Money Finance.

Madison has a nice big gift for us in a collection of questions answered by a retired IRS agent. You'll find Your Tax Questions Answered posted at My Dollar Plan.

Super Saver has a gift for all of us looking forward to our post-work lives in Exceptions that Avoid Penalties for Early Retirement Plan Distributions. It's posted at My Wealth Builde

But before you can take the money out, you have to save it. Investing School promises us everything about workplace retirement plans at 401(k) Retirement Plans, posted at Investing School.

Of course, investing means you often must deal with potential losses as well as earnings and any associated taxes.

Ornaments (3) Investors beware! That's the warning from Ron, who says You may be in for a big surprise when it comes to taxes and your portfolio. It's posted at Pragmatic Sage Weekly.

In that same regard, Ripe Trade says you need to contact your mutual fund companies to get an estimate of capital gains taxes. More on tax planning in these cases in Tax loss basics, posted at Ripe Trade.

More tax-related investment info comes from SCMFINANCE, who presents Wash Sale, posted at The 52 Week Experiment.

And RJ brings us The Fundamentals of Tax Efficient Investing, posted at Our Financial Planner.

Surfer Sam makes sure we don't leave entrepreneurs off our holiday tax list. He presents New Small Business Tax Tips For Business Owners, Start-Ups and Entrepreneurs at Surfer Sam and Friends.

Steve also has some business tax tips at New Tax Laws In 2008 That Directly Affect Small Businesses, posted at

Christmas_bells(2) Tony tells us a holiday (and year-round) tale of patching up the leaks, including tax ones, and keeping all the money you make. Read about it at Money: What Steps I Have Taken to Save It, posted at

Raymond keeps us in the wealth-building mood with How To Become A Millionaire In 10 Steps. And yes, tax considerations play a big part in growing your money. The post is at Money Blue Book Blog.

Regardless of how much you have, the goal is to hang onto it. Eric tells us about simple tax-saving ways to effectively increase your take-home pay in Don't wait for your tax refund, increase your take-home pay today. It's posted at Let's Blog Money.

Robert D Flach brings us the Ghost of Tax Filing Past in his post about My First 1040, posted at THE WANDERING TAX PRO.

Poinsettia (2) And to help all you efficient folks who have already bought and wrapped all your holiday gifts, decorated the house, made Christmas cookies and are planning your 2009 tax strategies, we have some good information from a group of holiday tax blogging elves.

Andy is in a particularly giving mood with Tax Tips, Rates and Brackets for 2009 Returns, posted at Saving to Invest. .

Walter presents Personal Exemptions and Standard Deductions to Rise in 2009, posted at Wally's World of Taxes.

Over at the holiday workshop, nickel has put together a good look at 2009 Traditional and Roth IRA Contribution Limits.

RL presents 2009 Federal Energy Tax Credits posted at Rich Credit Debt Loan.

Santa face2 And Santa himself, because of all the miles he puts on his sleigh on that one December night, will want to check out Diane's offering of IRS Announces 2009 Mileage Rates. It's posted at Need IRS Help?

Wow! That is one big bag of tax goodies! I hope you find a lot to enjoy and use.

We'll be back just before St. Nick makes his rounds with another Tax Carnival on Monday, Dec. 22. You can send your tax stocking stuffers via our carnival submission form. And to get in the holiday tax mood, check out all our Tax Carnivals Archive. Guidelines on submitting can be found at this Tax Carnival welcome post.

Happy Holidays and Merry Taxes 2008!


Feed You can follow this conversation by subscribing to the comment feed for this post.

Michael Rozbruch, IRS Problem Solver

So many great resources! I did a blog post recently on year-end tax tips, including how to save money by avoiding IRS filing penalties. Check it out!


Great carnival! Thanks for hosting and including my article.

The comments to this entry are closed.