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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.

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.

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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.

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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?

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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.

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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.

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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.

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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.

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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.

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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.

Comments

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Dave 'Tax Man' Chapman

No I want Carnival #49 now! I can't wait another 2 weeks!

Right, I am off to write you an amazing article, its going to knock your socks off!

Keep up the great work

Patrick

Thanks for hosting - this carnival is always a little more fun this time of year. Or maybe it's that I am a little more tuned into taxes this time of year! ;)

Solid Planning

Wow! What an incredible looking carnival. Fantastic job. Not only is it attractive, it's also interactive. Love the images of the new coins and the ability to learn more about them.

I only hope the carnival I am hosting at the end of the week doesn't pale in comparison. Thanks again! ~ Solid Planning

Sun

Thanks for hosting the carnival and including my article!

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