IRS

Taxes on irregular income

Posted 7 weeks 3 days ago by Philip Brewer

Taxes

Kneeling llama

This is really a non-issue, if you work a regular job:  Your employer withholds taxes.  It's also not much of an issue if you're self-employed and your income is reasonably steady through the course of the year:  You estimate your annual tax bill and send in quarterly estimated tax payments.  If your income is unpredictable, though, it is an issue.  Happily, the IRS does not demand that you be able to predict the future.

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Cross your fingers and hope you’re not caught by Alternative Minimum Tax (AMT) this year.

Posted 17 weeks 5 days ago by Paul Michael

Personal Finance

TAxes

If you don’t know what the AMT is, you may well be in for a shock this year. And if your household income is around $75,000 or more, gross, then AMT could very well take a big bite out of you. Read on…

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Last Minute Tax-Filing? Extended Post Office Hours and More

Posted 1 year ago by Andrea Dickson

Filed Under: Taxes

Isn't it weird that there isn't a central list of post offices at, oh I don't know, say, USPS.com, that tells you which post office branches are going to be open late tonight for last-minute filers? Or is there a list and I simply couldn't find it (possible)?

Here's a partial list. Feel free to add your own in the comments section. These are remarkably difficult to find.

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Top 10 Tax Urban Legends, Myths and Rumors.

Posted 1 year ago by Paul Michael

Filed Under: Taxes

rumor

Hey, it's tax time again. If you've already looked at my other post on weird tax deductions , you'll know I like looking at the lighter side of taxation. Let's face it, at this time of year, who doesn't?

So I thought it would be fun to pop along to the Snopes.com website and check out their top 10 tax legends (it's a tricky search, I had to weed out stories not directly related to the IRS). But, what are the big myths, rumors and complete BS stories surroungding this oh-so-special time of the year? Well, here are the results.

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15 to 35% Off Turbo Tax Online

Posted 1 year ago by Will Chen

Filed Under: Deals and Coupons, Taxes

turbo tax logo

Fidelity.com is offering its registered visitors 35% off TurboTax online. Registration is free. Just click on the link "visitors" on the bottom left-hand corner. Fidelity doesn't ask you to verify your personal information nor does it verify your email address. If you're already a registered user, go here for the TurboTax discount.

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What are your chances of getting audited by the IRS? Your guess is probably wrong

Posted 1 year ago by Will Chen

Filed Under: Taxes

turbo tax war

According to this Kiplinger's tax tip video, only 1 in 150 personal tax returns get audited. Realistically speaking, your odds of getting audited are probably even lower than that. In fact, it's virtually zero.

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20 amazing, outrageous and just plain weird tax deductions

Posted 1 year ago by Paul Michael

Filed Under: Taxes

freebeer

Well, it's that time again. The tax deadline is just around the corner. If you're like me, you will have taken care of your taxes months ago and already be enjoying the cash your high-interest savings account is giving you on your return.

If you're smarter than me, you won't have any tax return at all. It's best to come out owing nothing and getting nothing. Evens is best here. But if you still haven't done your return, take a look at the top 20 funky, strange and outrageous deductions that folks have tried, and sometimes failed, to get away with.

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Can't Afford to Pay the IRS?

Posted 1 year ago by Troy Hadley

Filed Under: Taxes

Even though I have a couple of extra days to file my tax returns this year, I won't be able to come up with enough to pay the IRS what I owe.

The age old question about paying now or later came to a head for me this year, when I chose the "pay later, and invest your money in a high-interest savings account in the meantime" strategy, but forgot to actually save the money. So, I owe Uncle Sam a few grand. Only I don't have a few grand.

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Ring. Ring. Ka-ching! Lying About Your Telephone Tax

Posted 1 year ago by Troy Hadley

Filed Under: Taxes

I haven't had a landline in years. I'm dead serious. Years.

So, I was bummed to hear that this year, the "sorry you were cheated initially when we taxed you too much" refund that we get back is for long distance telephone service.

Apparently, Americans who paid for long distance calling plans were cheated or something. By Ma Bell? Or the Baby Bells? Uncle Sam in conjunction with the Bell Family? It doesn't matter now. What matters is that, when you file your taxes this year, you can get back between $30 and $60, depending on the number of exemptions you claim.

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$10 billion tax refund for long distance phone

Posted 1 year 16 weeks ago by Greg Go

Taxes

If you paid for long distance phone service in the last 3 years, you are eligible for a refund of the U.S. federal taxes paid on that service. The government estimates that up to $10 billion will be refunded to consumers.

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Charitable giving - get a receipt

Posted 1 year ago by Andrea Dickson

Filed Under: Taxes

Gimme

Here's hoping that I get this right - according to the IRS and NPR, new provisions are going into effect next year that will change the requirements for receiving a deduction on your taxes for charitable donations. The story that I heard on the radio referred most to donations to religious institutions, but it probably relates to other giving as well.

Continue reading "Charitable giving - get a receipt"

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