Taxes Blog

Tuesday, October 4, 2011 1:46 pm
By Kay Bell · Bankrate.com

You know that old saying about the cobbler’s kids going barefoot, right? Well, I’m the tax geek version. A lot of years I file for an extension. And when I do, I also tend to wait until the drop-dead October filing deadline (it’s Monday, Oct. 17, this year) is upon me before I complete my

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Thursday, September 29, 2011 1:20 pm
By Kay Bell · Bankrate.com

In these tough times a lot of folks have to scrimp to pay their bills. That includes what they owe the IRS. The IRS understands this. And the agency long ago discovered what private businesses have known all along. If you let people pay off their bills over time, you get the money, and you

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Wednesday, September 28, 2011 11:19 am
By David Bakke · Bankrate.com

While most small business owners are honest citizens doing their best to pay their fair share in taxes, there are a few who try to dupe the system. As a result, the IRS has created a formula called the Discriminate Function that looks for certain tax audit red flags in returns to catch those individuals.

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Tuesday, September 27, 2011 3:51 pm
By Kay Bell · Bankrate.com

Employer-provided benefits that can save workers tax dollars are one of the biggest costs to the U.S. Treasury. But apparently Uncle Sam’s costs could be higher if more employees took advantage of additional workplace offerings. Take flexible spending accounts, or FSAs, for example. These are a great way to stash money before taxes are taken

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Wednesday, September 21, 2011 4:28 pm
By Kay Bell · Bankrate.com

President Barack Obama has come up with ways to get more Americans working and reduce the federal deficit. His plan to reduce the deficit by about $3 trillion over 10 years also would pay for his previously announced $447 billion jobs package. Cynics might say that the person Obama is most interested in employing is himself,

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Tags: tax, Taxes
Tuesday, September 20, 2011 12:35 pm
By Kay Bell · Bankrate.com

I’ve been married almost 30 years. Yes, I was a child bride. That’s my story and I’m sticking to it. So, what does my wedded bliss have to do with taxes? Well, I’ve done our married filing jointly tax returns for each filing season since the hubby and I said “I do.” Statistically, we’re the aberration when

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Tags: spouse, tax, Taxes
Thursday, September 15, 2011 7:19 pm
By Kay Bell · Bankrate.com

If you make more than $200,000 (or $250,000 and you and your spouse file a joint return) and you itemize deductions, you might want to pay attention to the jobs bill President Barack Obama is trying to get through Congress. To pay for his proposal, the president is suggesting limits on the items claimed on

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Tuesday, September 13, 2011 2:57 pm
By Kay Bell · Bankrate.com

Being the boss is fun, except when you have to juggle accounts to pay bills, or deal with an irked customer or make sure your taxes are paid. OK, maybe being the boss isn’t everything it’s cracked up to be. But lots of folks still opt for self-employment, either by choice or because they’ve been nudged

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Thursday, September 8, 2011 4:44 pm
By Kay Bell · Bankrate.com

The Labor Day weekend in Texas was horrible. In case you missed it, much of my home state is on fire. The largest wildfire is southeast of Austin in Bastrop County. It was a lovely area, with small communities sprinkled among the Central Texas hills and forests. I say “was” because much of the area

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Tuesday, September 6, 2011 4:38 pm
By Kay Bell · Bankrate.com

Religion and politics are two of the three things you should never discuss at a polite dinner party. They occasionally come up, however, when you talk about taxes. There are many popular tax breaks that cost the U.S. Treasury billions of dollars. Expect them to get at least a cursory look by the new special

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Tags: tax, Taxes
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