Claiming the Making Work Pay credit
Claiming the Making Work Pay credit requires more tax paperwork, such as filling out Schedule M.
Kay Bell is an award-winning journalist, blogger and author who, after spending almost 20 years in Washington, D.C., working on both Capitol Hill and in Fortune 500 companies' government relations offices, decided to focus on taxes. Noted for her ability to translate tax talk into money-saving English, she helped Bankrate.com in 1999 launch its comprehensive and respected tax coverage. Bell's tax insight and expertise make her a regular contributor on behalf of Bankrate to television and radio programs, as well as a source for other media outlet. From her career start as a daily newspaper reporter and editor in her native West Texas, Bell has written personal finance pieces for magazines, provided copy for investment company newsletters, is the author of the Financial Times book 'The Truth About Paying Fewer Taxes' and successfully transitioned to new media, writing not only online articles but also two tax blogs, 'Bankrate Taxes Blog' and her own 'Don't Mess With Taxes.' Bell lives in Austin, Texas. A graduate of Texas Tech University (B.A., Journalism), she is a member of her alma mater's College of Media and Communication professional advisory board. She also served a term on the Internal Revenue Service's Taxpayer Advocacy Panel.
Claiming the Making Work Pay credit requires more tax paperwork, such as filling out Schedule M.
You can take an exemption for yourself, your spouse and each dependent you claim.
Many of the provisions that expired in December 2009 are now in effect for the 2010 tax year.
The current tax rates and other Bush-era provisions will likely be in place for another two years.
If you unwind best by working, take a volunteer vacation and get tax breaks, too.
Have back-to-school shopping to do? Check to see if a tax holiday is coming up in your state.
If you’re sending your tax return the old-fashioned way, follow these tips before mailing it.
If you’ve lost or reduced your income in these hard times, there could be a tax silver lining.