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IRS Publication 17

IRS Publication 17 For 2013

If you want to do your own taxes, you need to understand the process. Fortunately, you do not need a degree in accounting to figure out how to do your own taxes. The best chance that you have to get through your taxes without making a mistake is to consult the document put out by the IRS for that purpose. IRS Publication 17 is a great guide for those working on their own taxes.

IRS Building

IRS Building (Photo credit: afagen)

IRS Publication 17 is still the most useful IRS publication for figuring out exactly how your … Read more at 2009 Tax.

Tax Carnival Ecstasy – November 29, 2012

We need to get this to the Fiscal Cliff! What ...

Welcome to the November 29, 2012 edition of Tax Carnival Ecstasy. In this edition we start with two articles from Bill Smith, a look at Eco Products That Are Tax Deductible and an article all about the Buffett Rule. Then there’s a post on the Fiscal Cliff and whether large corporations are immune by John Schmoll. Finally David de Souza examines Where Your Taxes Go. Hope you enjoy the material, bookmark, share, like on Facebook, tweet and follow the next edition of the carnival.

Shelby Martin presents 5 Reasons to Give Your Nanny a Year-End Review posted at GoNannies.com … Read more at 2009 Tax.

Tax Carnival ecstasy – November 13, 2012

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Welcome to the November 13, 2012 edition of Tax Carnival Ecstasy. In this edition we some really good articles including one from Bill Smith who looks at Saving Money and Time On Taxes this coming tax season. John Schmoll examines the Fiscal Cliff and whether we Should We Really be Concerned. Have you ever wondered if the S&P has a Seasonal Pattern? Alex Peters has an article covering the topic. Finally, Dave Leonard wants you to reconsider Paying your Taxes With a Credit Card. Hope you come back soon, like us on Facebook, tweet this post, bookmark … Read more at 2009 Tax.

Gay Marriage Makes Filing Federal Tax Returns A Labyrinth

Filing Federal Tax Returns

Filing Federal Tax Returns

There are many difficulties inherent in filing federal tax returns for same sex couples.  Even in states where gay marriage has been legalized, issues abound.  Because of DOMA (Defense of Marriage Act) even when a state legalizes gay marriage, it isn’t recognized on a federal level.  As a result, filing taxes jointly, like most married couples around the country do, is not possible for a same-sex couple.  Many same-sex couples go to tax agencies to make sense out of the complicated mess that their taxes have become.  These tax agencies often offer free federal tax filingRead more at 2009 Tax.

IRA Tax Penalty For Withdrawing Early

IRA Tax Penalty

If you are wondering if there is an IRA tax penalty for withdrawing money from an IRA early, the answer is yes.

It is best if you do not touch your money and let it accumulate as long as you can. If you decide to withdraw any money before the age of 59 and a half, the money will be subject to an early withdrawal penalty of 10% of the amount of distribution. By withdrawing your money early, you are losing tax free compounding which can cost you lots of money by the time you retire.

The … Read more at 2009 Tax.

Tax-Free Lump Sums Through Pension Release

Lately, the UK pensions system has come under scrutiny because of the way that investors’ savings are locked away until they reach retirement. This year, for the first time since Individual Savings Accounts (ISAs) were started, they attracted more investors and more money than pension savings vehicles. Experts believe that this is because they offer a simple way to save that doesn’t ‘lock away’ savings until the age of 65.

However, through a process called pension release, there is a way for pension savers to unlock some of their hard-earned money before they retire. Anyone considering pension release must … Read more at 2009 Tax.

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