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Estimated 2007 Tax Brackets

by Flexo

Kiplinger has the estimated tax savings you’re likely to see for the 2007 tax year (when you file in April 2008). Here are the estimated tax brackets, take a look to see where you fall:

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Will You Be Audited?

by Flexo

Through everyday conversations, I know there are people who stretch the tax law as much as possible in order to claim tax deductions for “business-related” expenses. I’d like to follow up after tax season to see how far they’re actually stretching the rules, and if it’s fishy, to determine how many of these individuals end ... Continue reading this article…

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Walking Away From Your Money

by Flexo

If you don’t itemize your taxes, you may be overpaying the government, according to Bankrate.com. The General Accounting Office has found that filers of 1998 returns who used the standard deduction instead of itemizing paid the Internal Revenue Service almost $1 billion more than they should have. Should you itemize? It depends on your expenses ... Continue reading this article…

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Seven Tax Mistakes You Might Make, Part 2

by Flexo

It’s tax season, and I’m double-checking my return before filing. I’m checking for seven typical mistakes. I began mentioning MSN’s seven tax mistakes earlier, and now I’ll finish up those thoughts. 4. Getting married. According to MSN, a “marriage penalty” still exists. “[T]wo individuals who each earn $70,000 in taxable income [and file as a ... Continue reading this article…

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National Tax Advice Day

by Flexo

To celebrate National Tax Advice Day (which I predict will soon become a major holiday which we’ll celebrate with staplers and shredders instead of tinsel and mistletoe) on Thursday, H&R Block has set up what appears to be a somewhat complete resource on calculating and filing your taxes. Sure, there are some light topics like ... Continue reading this article…

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Resolutions for 2006

by Flexo

In December, I start to reflect on the year that’s almost complete and begin looking forward to new new year in which I can use the opportunity to resolve to improve some aspects of my life. Here are my resolutions. (These may change all the way up to December 31, so check back for updates!) ... Continue reading this article…

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Best. Deduction. Ever.

by Flexo

Marketplace is a mini radio show on National Public Radio. They air for a few minutes in the morning and a half an hour in the evening, after the markets have closed for the day. The program offers financial news and tends to have interesting discussions about the economy. As we’re coming down to the ... Continue reading this article…

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Tips for the New Year

by Flexo

Keep more in 2004: 8 resolutions – Dec. 24, 2003 CNN presents five tips as we head into the new year. And here they are, summarized for your quick acceptance or rejection: Pay yourself first by saving for your retirement directly from your paycheck. If you’ve procrastinated this year, get over it. Quit smoking. Get ... Continue reading this article…

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