Income Taxes
The IRS tax tables for 2012, for use in filing 2012 taxes by April 2013, will be published in the fall of 2012. However, the estimated tax withholding tables give an accurate assessment of how the 2012 tax tables from the IRS will look. Note that these 2012 tax bracket tables are no to be [...]
Taxes for 2011 are almost due. As always, the IRS tax filing deadline for 2012 is April 15th, only it isn’t. April 15th is a Sunday and taxes are not due on weekends, especially Sundays. You don’t expect government bureaucrats to work on the weekend, do you? Not to mention, you can’t get a postmark [...]
Doing income taxes can be a trying time for many taxpayers. There are numerous forms to fill out, cumbersome calculations to perform, not to mention, the rules change every year. When you finally finish, you might end up owing a lot of taxes to the government. The IRS isn’t know for being forgiving, but that [...]
The following is a guest post from Michael at Credit Card Forum. Yep, it’s that dreaded time of year again… tax time! And if you’re a small business owner, the process of doing taxes is especially arduous. Not only do you have to categorize all the business-related expenses from last year, but you also have [...]
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Shortly after publishing my post about your odds of being audited by the IRS, a reader sent me a message with a link to a CBS News article suggesting that your chances of being audited were actually much higher than previously thought. That is what the bold type headline screams, at least. In reality, if [...]
As tax season approaches, America’s thoughts turn to the required filing of income taxes. Theoretically, America’s tax system is a voluntary reporting system, however, that voluntary part is backed up by a pretty big stick, IRS audits. Odds of Being Audited According to IRS statistics, the chances of being audited by the IRS is about [...]
Every year a plethora of financial articles come out telling people how to save money on their taxes at the end of the year. It’s a fine idea, and frankly, no stone should go unturned. However, the best tax planning takes happens year round. That being said, there are numerous last-minute ways to cut income [...]
The standard tax deduction allowed for Americans is set each year in late October. The standard deduction is indexed for inflation, so it can increase or decrease in a given year depending upon how the cost of living index changes over time. Standard Deduction 2012 The 2012 standard deduction is the amount that taxpayers will [...]
Updated information regarding the 2012 standard deduction has been posted. The IRS has announced new 2011 tax numbers regarding the standard deduction for single filers and for those married filing jointly, as well as the 2011 value of the personal and dependent deduction. By law, these standard tax numbers are adjusted for inflation each year. [...]
Continue reading about Standard Deduction 2011 and 2011 Tax Brackets
As the end of the 2010 tax year comes to a close, an interesting question is coming up more often. Should I convert my IRA to a Roth in 2010? There is a special 2010 tax trick that allows you to convert your traditional IRA to a Roth IRA and spread the taxes from the [...]
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