California tax votes June 8
Refund loans and the once-a-year 'rich'

Tax Carnival #71: Celebrating June 2010

Welcome to June! This sixth month of the year is a busy one.

There are graduations, which mean school's out!

Annual vacations get underway in this month in which Summer officially arrives.

Roses are bursting out in gardens, June bugs abound and as the baseball season hits its stride, remember that on June 12, 1880, John Lee Richmond pitched the first perfect game. 

Parents with children (9-12) bringing food to table outdoors
June is home to Flag Day, Father's Day and Juneteenth.

And, of course, there are lots of June weddings, which means, we hope, that there are plenty of anniversary celebrations, this month, too.

But amid all this early summer ado, we also need to keep an eye on our taxes.

We do just that in this, our 71st Tax Carnival: Celebrating June 2010.

So before any more June days pass, let's get started! And about the images, they aren't intended as any type of comment on the carnival items. So don't be upset if your post is near a June bug instead of a bride, or vice versa!

PT presents Roth IRA CD: Tax-Advantaged Retirement Investing without the Risk, posted at PT Money.

Madison DuPaix presents When Should You Pay Taxes on Your 2010 Roth Conversion? It's posted at My Dollar Plan.

Everything Finance wants to know if you're Converting to a Roth IRA? If so, find more at the post at Everything Finance.

Mike Piper presents Roth IRA Rules and Information, posted at The Oblivious Investor.

AEDINSY presents 10 Ways To Reduce Tax Burden For Your Small Business, posted at Small Business Advice.

Sun presents In Defense of The IRS, posted at The Sun's Financial Diary.

John Duper says Try to understand how a tax attorney will represent your tax case before selecting one to represent you against the IRS. Details in Finding the Right Tax Attorney, posted at 2009 Taxes.

Super Saver says publicly traded partnerships generate K-1s, which increase the complexity of filing a tax return. That's the topic of Securities I Won't Buy, posted at My Wealth Builder.

C. Alexander Hadgy presents Got Tax Debt? Tips That Can Help, posted at Billeater.

June bug David R. Lampsen presents A List of Tax Deductibles You Might not Believe, posted at Personal Finance Analyst.

Madison looks at How Long to Keep Tax Records, posted at Tax Gab.

Ryan presents Tax Benefits of Flexible Spending Account and Health Savings Account. This examination of the different ways to use tax-exempt money to pay for your health care costs is posted at Cash Money Life.

On the international tax front, Lubna Kably  tells us that Indian tax authorities have introduced a new regulation where a person without a PAN card faces a higher withholding rate of 20 percent on payments due from an Indian taxpayer. This isn't practical for senior citizens, notes Lubna, or foreign entities doing a one off transaction with India. She elaborates in Law Street - Economic Times (May 2010) - PANs Prickly Pains, posted at Talking Tax.

Staying across the pond, David de Souza tells U.K. taxpayers who are paying tax on bank interest that, depending on their income level, they might be able to reclaim it. Find out how in Bank Interest: Are You Paying Tax Unnecessarily? posted at Tax Return Blog.

Back in North America, but a bit to the north we hear from Tom with Tax Tips For 2010, posted at Canadian Finance Blog.

Dan Meyer presents Tax Effects of the Unemployment Benefits Extension, posted at Tick Marks.

Kim Luu says Like Paying Higher Taxes? You’re In Luck, posted at Money and Risk.

Adam shares how the choices he makes ensure the right balance between paying taxes now or when you retire. Details in Should I Invest Using Pre-Tax or Post-Tax Money? posted at Magical Penny.

Groom carrying bride
Matt Mazewski presents In Defense of the VAT, posted at The Conscience of a Centrist.

FMF wonders whether U.S. government spending (and the tax implications associated with it) has reached a tipping point. Find out in The Fragility of Freedom at 60%, posted at Free Money Finance.

Jeff Rose tells us How to Withdraw Money From Your IRA Without Penalty, posted at Good Financial Cents.

Michael Bennett discusses how to maximize deductions when you make a living as a professional gambler in Las Vegas Professional Gambling. It's posted at Las Vegas Accountants.

Robert D Flach presents THE CAFONES! posted at THE WANDERING TAX PRO.

Silicon Valley Blogger offers advice good any time of year: Beware of the Refund Anticipation Loan! It's posted at The Digerati Life.

Finally, The Investor lists Ten things I don't want to pay tax for anymore. While this post technically should have joined the international group of Carnivalista contributions, the topic has global appeal. Check out the suggested ways to cut spending instead of raising taxes at Monevator.

1040 icon_square And with that tax policy choice, we wrap up the 71st Tax Carnival: Celebrating June 2010.

We'll be back next month, specifically on July 5. You can be a part of that Carnival by sending your tax post (and tax-only items please; check the guidelines for details) to the Blog Carnival page.

In the meantime, for more fun nontax June facts, check out Holiday Insights, June Facts For The JuneBug!, Barbara's Entourage, Focus on Crofton and the Big Site of Amazing Facts.

Comments

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Adam

Thanks for including my post -very cool carnival this month :)

Ryan

Thanks for hosting. :)

PT

Thanks for putting this together. Lots of June related tax subjects. June bugs are in full effect here.

Shim

Thanks for all of the information, great blog by the way.

Kim Luu

Kay,

Thank you so much for including me.

This month's selection looks really fun. I'm plowing through them right now.

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