Tempest in a tax teacup
Homebuyer credit cheats beware

Tax Carnival #56:
Dog Days of Summer 2009

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

Yorkshire terrier_yorkie (2) 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.

Beagle 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.

Norwich terrier (2) 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.

Chihuahua 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.

Pembroke welsh corgi 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


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