Gas taxes: Alaska's is back, others up
Madoff makes off like property tax bandit

Tax Carnival #57: Labor Day 2009

LaborDay_jobs Labor Day is a holiday to recognize those who toil. Traditionally, these folks get some time off from the grindstone to relax. But there is no respite for Tax Carnivalistas.

So on this Labor Day 2009, Tax Carnival #57 spotlights the work of tax and personal finance bloggers.

Let's get right to it so we can clock out on time.

We start with Big Larry, who has the perfect topic for Labor Day: Are You Benefiting from the Making Work Pay Tax Credit? Find out at Out of Debt - Christian Finances and Debt Help.

One way to cut down on work is to have your money work for you. But BWL says "Way too much money is paid to Uncle Sam by investors who don't understand how to create a tax-efficient portfolio." To help remedy that, BWL presents Tax-efficient investing 101, posted at Christian Personal Finance.

Mike Piper also has investment tax info in Dealing with Unrealized Capital Gains. It's posted at The Oblivious Investor.

Joe Kristan relates the intriguing tale of The mysterious case of the 6,000 lb. minivan. You'll find the solution to the vehicular tax deduction at Tax Update Blog.

Bob Brooks presents Tax Receipts Report Largest Drop Since 1929, posted at Prudent Money Blog.

A lot of attention as been given to the individual tax breaks in the American Recovery and Reinvestment Act, better known as the stimulus bill, but Steve Patterson notes that the ARRA Provides Tax Benefits to Businesses, too. It's posted at 2009 Taxes.

We get more business tax talk from Stacie, who discusses how to Extend The Due Date To Pay Your Corporate Income Taxes over at More Tax Tips.

Labor-day_ww2-style_EgreelingsNetwork Did you cash in your clunker? Then you'll want to check out Madison's Cash for Clunkers Tax Rules, posted at Tax Gab.

Staying in the rebate state of mind, Darwin says Cash for Appliances is Coming - Hold Off on that Purchase! You'll find it at Darwin's Finance.

Jeff Rose presents IRS is My Hero: The Heroes Earnings Assistance and Relief Tax Act (the HEART or Heroes Act), posted at Jeff Rose.

Patrick is keeping his eye on the tax calendar and knows that the third 1040ES due date is next week, so he offers us an Estimated Taxes Guide, posted at Cash Money Life.

Pinyo also looks at the 1040ES process in Self-Employment Tax And IRS Estimated Tax Payment, posted at Moolanomy Personal Finance.

Another consideration for the self-employed and all other business folks is financing your operation. Peter Pappas explains why Commingling of Funds is Still a Horribly Bad Idea over at The Tax Lawyer's Blog

If you make a mistake with your estimated taxes or any other IRS filings, you could face penalties. In that regard, Dan Meyer shares the thoughts of tax professionals in AICPA: Make Tax Penalties More Fitting to Conduct, Less Punitive. It's posted at Tick Marks.

Most of us workers are hoping to one day retire. Sometimes, though, we need to tap those post-work savings early. If you must raid your retirement account, Jim explains how to Unlock Your IRA: How to Cash Out an IRA Without Penalty. It's posted at Bargaineering.

More retirement plan news comes the Carnival from nickel, who asks, 401(k) Limits to Decrease in 2010? Get the answer at fivecentnickel.com.

Paul Kamp has this warning: The Next Bubble: Your Taxes, posted at Don't Quit Your Day Job. "I try to cut through some of the partisan commentary and take a look at the raw numbers," says Paul. "The prognosis is grim. Your taxes will probably be increasing."

Labor day bw_clipartjungle Did you spend part of your holiday fixing up your house? Silicon Valley Blogger brings us an oldie-but-goodie home-related tax post in Extreme Makeover: Home Edition Lessons, Pay Taxes On Your Winnings! It's posted at The Digerati Life.

Labor Day may be a U.S. holiday, but taxes are global. And we have several international tax topics in today's carnival.

Lubna says, "The Indian government has issue a Tax Code for public discussion and debate. India's current Tax Act dates back to 1961, with yearly amendments. Thus, there was time for a change. Except that the tax code is not progressive enough. It contains anti-avoidance provisions, but at the same time no participation exemption provisions. Foreign companies need to be cautious as even partial control and management in India would result in Indian tax residency. Post discussions, the new provisions are expected to be introduced in 2011." She offers more on the matter in Law Street in The Economic Times (Aug 2009) - Tax Code, posted at Talking Tax.

UK resident David de Souza notes that a lot of folks from the U.S. and elsewhere flock to his country each summer to work. In Claiming Tax Back When Leaving the Country, posted at UK Tax Blog. David highlights some of the way these people can save on their taxes.

More on Great Britain's taxes from oneadvice, who says, "Council tax counts as a priority debt which means it is important to make payments or you risk facing severe consequences." Get details at Council Tax Debt Advice, posted at One Advice.

Gavin R. Putland alerts his Oz neighbors that Payroll taxes levied by Australian States are probably unconstitutional. Details are posted at The Putland Tribune.

Regardless of where in the world you live, Robert D Flach who blogs as THE WANDERING TAX PRO, reminds us that there are few ABSOLUTES when it comes to taxes.

And now, with the three-day Labor Day holiday winding down, it's also time to close out the 57th Carnival of Taxes.

Let's do with a smile through our tax tears thanks to Wenchypoo's Hot Off the Spam Folder - The Tax Poem. The poetic look at a long list of taxes is posted at Wisdom From Wenchypoo's Mental Wastebasket.

Tax carnival logo Thanks to all the bloggers who contributed to the Labor Day Tax Carnival and especially to all you readers. We hope to see all y'all, bloggers and readers, back on the blog midway next month, specifically on Oct. 5, where we'll tax party at our annual Taxtoberfest Carnival.

You can join us in raising a glass of foamy tax goodness by submitting your tax-related item via our Blog Carnival page. Before doing so, check out our guidelines -- note that we're looking for tax-only articles, please! -- as well as peruse previous carnivals.

Comments

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Paul Kamp

Thanks for hosting, and great site!

Lubna

I learn a lot from the Tax Carnivals of developments in tax land across the world. I would echo Patrick in saying: Thnaks for hosting this carnival.
Best,
http://writerscyberslate.blogspot.com/2009/08/story-book-collection-drive.html

The Cardmaster

Good roundup and excellent resources. Fed taxes have always been confounding to me. It's almost like the more effort you put into them, the more you get out of them (i.e. the less you have to pay). Most years I just e-file and take the standard deduction and probably miss out on huge savings.

oneadvice

Thanks for adding my post to your carnival :)

Patrick

Thanks for hosting! :)

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