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Tax Carnival #66: Tax Olympics

Sports News - March 01, 2010

I know the Olympics are over. Congrats to all the medalists, especially Canada's hockey teams. It was good to see Sidney come through when it counted most.

But admit it. You're missing the games. What did you do earlier today when you turned on CNBC and there was Maria Bartiromo instead of curling? Felt a little sad, didn't you?

Well, cheer up. The Tax Carnival is here to help fill a bit of the Olympics void. After all, taxes have a lot in common with the Olympics.

The laws are as convoluted as the figure skating judging standards.

All of us taxpayers "practice" our filing by visiting tax blogs (and Carnivals!) in the hopes of doing our best come April 15.

And when we do manage to get a little gold back in the form of a refund, we feel like big winners.

OK. Maybe that's a bit over the top, but I did just watch two weeks of Bob Costas hyperbole, so cut me some slack! And I do have some posts for the 66th Tax Carnival: Tax Olympics that are definitely worthy of podium recognition.

So let the Tax Games begin!

Jason asks a critical first question: Are You Making These 5 Tax-Filing Mistakes? Find out at Redeeming Riches.

Peak Personal Finance presents Don't Forget These Home Office Tax Deductions posted at Peak Personal Finance. Be sure to take as many of these as you can!

Ben presents Common Income Tax Problems, posted at Money Smart Life.

Chief Family Officer presents Ways to Make & Save Money #7: Tax-Deductible Donations, posted at Chief Family Officer.

Thursday Bram presents Tax Breaks for Going Green, posted at OPEN Forum.

In keeping with the international participation of the Olympics, we have several items from bloggers outside the U.S.

2 Cents presents Taxes: The Missing Step, which includes 10 tax tips for Canadians. It's posted at Balance Junkie.

"In India, the Finance Bill was tabled in the Parliament on Feb. 26," says Lubna Kably. "With the fiscal deficit looming large, tax rate cuts are ruled out. However, procedural amendments without a change in tax rates can also cheer up the tax payers. Indian taxpayers hope these will materialise." She provides details in Law Street in The Economic Times (Feb 2010) Pre budget, posted at Talking Tax.

The Investor presents Companies paying dividends early to beat higher UK tax rates, posted at Monevator. In the UK, companies are paying dividends early before taxes rise in April, providing a concrete example of how taxes distort company activities.

Tom takes a look at the number one selling tax software in Canada in Tax Software Review – QuickTax 2009, posted at Canadian Finance Blog

Now back to U.S. taxes.

Four Pillars presents TurboTax Review – Get Some Help With Your Taxes Preparation, posted at Quest For Four Pillars.

BankShout presents Health Savings Accounts Q & A, posted at BankShout.

Carol Topp reminds us that taxes affect teenage business owners too, even if they don't know it! She has details in If a teenager starts a business, when does he owe taxes? It's posted at Teens and Taxes.

Steve Patterson presents New Vehicle Sales Tax Deduction, posted at 2009 Tax. There are a number of different things to consider when determining if your taxes are deductible.

FMF presents Saving a Bundle on Your Taxes with an Unrelated Dependent, posted at Free Money Finance.

Jeff Rose presents What You Need to Bring to Tax Accountant To File Your Taxes, posted at Jeff Rose: Good Financial Cents.

PT presents Get Your Additional Standard Deductions: Real Estate Taxes and New Car Sales Taxes, posted at PT Money.

Steve Patterson presents Unemployment Benefits Receive a Special Tax Break, posted at 2009 Tax.

Paul Williams notes that the rules on claiming eligible dependents can be tricky, but the more dependents you can claim, the lower your taxes will be. Lower Your Taxes: Claim All Eligible Dependents, a guide to who is eligible and who isn't, posted at Provident Planning.

Praveen presents Free Ebook: Capital Gains Tax Tips for Traders and Investors, posted at My Simple Trading System.

Silicon Valley Blogger presents Free Online Tax Filing, Tax Preparation Services & More, posted at The Digerati Life.

The Smarter Wallet presents Tax Deductible Donations To Haiti: An Analysis, posted at The Smarter Wallet.

Sun presents Squeezing One Last Deduction out of 2009, posted at Earn More Invest Wisely at The Sun's Financial Diary.

Ben presents Online Tax Software Success, posted at Money Smart Life.


Sports News - March 01, 2010

Now to the fun part: refunds!

Jim presents How to Spend Your Tax Refund Check, posted at Bargaineering.

BWL also has a few simple tips for better spending of your tax refund in How to spend your tax refund wisely, posted at Christian Personal Finance.

With that, we extinguish the flame of Tax Carnival #66: Tax Olympics. But we'll be back, and sooner than four years!

And we're not going all the way to Sochi. The 67th Tax Carnival will be back here on March 15.

You can be a part of it by sending your tax post (and truly tax-related stuff only, please; check our guidelines for details) to our Blog Carnival page. In the meantime, feel free to peruse our Tax Carnival archives.


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Jason @ Redeeming Riches

Thanks for the link and mention!

William Mouncey

With all this talk about "tax time," I was wondering if somebody can quote me chapter and verse in the law that obligates me to pay taxes as a private Citizen working in the private sector? Anyone?
PS. You'd better know what you're talking about, so don't come at me with the sixteenth amendment.

2 Cents @ Balance Junkie

Hey, great theme. We really are suffering from Olympic withdrawal here in Canada. After a record medal haul, it's hard to go back to the daily grind. Thanks for including my article here!


Hi Kay, thanks for hosting another tax carnival! I didn't catch much of the winter Olympics, I guess because I was reading/writing about taxes :)

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