Holiday gift from an employer: Taxable benefit or tax-free gift?
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Tax Carnival #93: Happy Taxmas 2011

Finished your Christmas shopping? What about your 2011 year-end tax moves? 2012 tax planning?

Yeah, me neither.

But thanks to all the blogging Santa helpers out there, the nicely wrapped tax packages in Tax Carnival #93: Happy Taxmas 2011 should help. Let's get started.

Christmas presents

Eric J. Nisall reminds us that the end of the year is about more than holidays and shopping. "Tax planning needs to be a concern as well," says Eric, who presents 2 Overlooked Year-End Tax Tips, posted at DollarVersity.

Jessica Bosari says that by preparing for taxes now, you can save money later. She provides some ways to do that in Save Money by Being Prepared For End of the Year Taxes, posted at Billeater.

SB has a checklist of the top 10 things to do before the tax year changes in Year end personal finance checklist, posted at One Cent at a Time.

YFS referees a head-to-head tax computing battle between Turbo Tax and H&R Block in Tax Software Death Match! It's posted at Your Finances Simplified.

Dan Meyer reminds both tax preparers and taxpayers that changes are coming soon in TPIN Competency Tests Are Just Around the Corner, posted at Tick Marks.

Madison also reports on some tax changes, specifically in connection with cost basis reporting. Find out about what to expect in Cost Basis Reporting: Preparing for 2012, posted at My Dollar Plan.

Mark Roberts has info for the 70 percent of U.S. taxpayers who don't itemize: Explaining the Standard Deduction. It's posted at Tax Brackets.

Tyler looks into a question that anyone who's ever been in a fender bender has asked, Are auto accident insurance proceeds taxable? The answer is posted at Auto Insurance.

Tim tells us that contribution limits for 401(k) and 403(b) accounts are increasing next year and provides the details in 2012 401k, 403b and IRA Contribution Limits, posted at Faith and Finance.

Bob has advice if you've been designated executor of a will or estate, including your tax responsibilities. Find out more at Responsibilities of Executors - What you need to know, posted at ChristianPF.

While we must pay attention to taxes as the year winds down, we can't totally forget about gifts in this festive time. And sometimes those presents also have tax considerations.

First for folks on the giving side.

Robert D Flach reminds us that the end of the year is a good time for a refresher on the tax rules for deducting charitable contributions. The details are in A Time for Giving, posted at The Wandering Tax Pro.

Now for those getting gifts.

Emily Everet reminds fellow United Kingdom residents that if they receive benefits or gifts from an employer, they usually need to be taxed. She looks at how this is done in How Your Company Benefits Are Taxed, posted at P11d.

U.S. workers have the same tax and workplace holiday gift connection. You can read about them at Holiday gift from an employer: Taxable benefit or tax-free gift?

Some more U.K. bloggers also offer their countrymen (and women) December tax advice.

Gemma Flannery reminds her fellow taxpayers that "you may be put on an emergency tax code if your employer doesn't know which tax code to place you on." She presents 3 Things You Should Know About Emergency Tax Codes, posted at Tax Codes.

Gregory Stokes says the rules around U.K. tax credits are changing in April 2012. Find out how the change might affect you in Changes To Tax Credits, posted at Tax Credit Calculator.  

Al Peters reminds U.K. taxpayers that "if you need to claim benefits or tax credits, you will need to apply for a national insurance number." He explains the process in How You Get A National Insurance Number, posted at Tax Fix.

We stay international with a look at taxes and technology on the Indian subcontinent.

Lubna Kably tells us that "tax legislation are clearly unable to keep pace with rapid advancements in technology. Grey tax clouds loom over cloud computing, in the international tax arena." She elaborates in Law Street in The Economic Times (November 2011), posted at Talking Tax.

And we return to the United States to wrap up the Tax Carnival's holiday edition.

Darwin says that with all the outrage from the Occupy movement, you might think income disparity is a bad thing. Well, it's not, he says, and offers his reasons why in Income Disparity is Actually Good. Here's Why, posted at Darwin's Money.

That should keep the conversation going well beyond the conclusion of Tax Carnival #93: Happy Taxmas 2011, which we've now reached.

Tax carnival iconThanks to all this month's contributors and to all y'all for making time in a hectic holiday season to read.

The 94th Tax Carnival will be here on Jan. 2 to help you nurse New Year's celebration hangovers by getting a head start on the 2012 filing season.

Join us then as a reader or as part of the tax fun by sending your tax post (and tax-only items please; check the guidelines for details) to the Blog Carnival page.

If you have problems with the official form, you can send your tax post's link to me at Twitter (I'm @taxtweet) or via email to


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SB @ One Cent At A Time

Good carnival, thanks for including my yera end checklist

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