taxes

More Tax Credits Coming for Homebuyers?

Yesterday I read a news item that stated the House and Senate are considering another tax benefit for homebuyers and homebuilders. The idea the House is considering is basically g

Should You Choose a Roth 401k or a Regular 401k?

Yesterday I was talking to a friend and he mentioned that his company just started offering the option of investing in Roth 401ks. He was wondering if he should stick with his regu

Is Social Security Just A Grand Ponzi Scheme?

I received my Social Security statement this week and it was a useless piece of paper to me since I do not qualify for retirement benefits yet. I always hear critics of Social Sec

The Gas Tax Holiday; don’t fall for it.

Both John McCain and Hillary Clinton are proposing a new Gas Tax Holiday that will run during the summer months, bringing “much needed relief” at the pumps. But will it? More than

Your stimulus check is on its way!

Wow. I guess pigs may just fly after all. Because, believe it or not, the goverment is actually paying out the economic stimulus checks ahead of schedule. And that means you could

Why You Should Donate a Blood Sucking Timeshare

My parents always told me that buying a timeshare is a bad idea because of the inflated upfront cost and perpetual maintenance and exchange fees the timeshare companies pile on.

Could a Divorce Improve Your Finances?

When I was single, I thought that getting married would reduce my expenses greatly, and after I got married I realized that in some instances

Taxes on irregular income

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

Software review: TurboTax

I wasn't looking forward to doing my taxes this year.  They were going to be more complicated than in years past, because I left my regular job and started working full-time as

You must file a tax return to get economic stimulus tax rebate

Surely by now everyone has heard of the economic stimulus tax rebate. To get it, though, you have to file a return.

Bar Stool Economics

Enjoy this lighthearted anecdotal story illustrating the North American tax system.

Bush's economic stimulus package; What will you get back?

As you’re no doubt aware, President Bush has created an economic stimulus package in the hopes of stalling the impending recession (or if you believe some, depression) that’s on th

TurboTax: New features, and a chance to win a copy

The kind folks at Intuit have given us some free copies of TurboTax. I snagged one that I'm going to use to do my taxes, and once I'm done, I'll post a review and tell

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

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

Can the government help in a recession?

Recessions spread. A minor downturn in one business spreads to its suppliers and then to their suppliers. Workers are laid off (or simply fear that they will be) and buy less, sp

How To Choose A Financial Planner - Yes You!

I don't care who you are. (Well, actually I do, otherwise I wouldn't be writing this). What I mean, is I don't care about your background, education, financial prowess, or absolu

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

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? [more]

Top 10 Tax Urban Legends, Myths and Rumors.

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. [more]

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

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. [more]