MONEY AND FINANCE

Tax Property Records

Tax property records are the records of how your real and personal property are taxed by the appropriate jurisdictional authority in your state. Generally, all taxing statutes and codes are passed by the state and acted upon by the local tax assessor. As a matter of policy, a tax assessor has a threefold responsibility. He must first, discover then list and third, value all property subject to taxation. This is applicable to both real and personal property as defined by law. Read More…

Tax Tips Today

Tax tips come in a variety of shapes, sizes and value. It seems every guru who can spell tax has tips for sale. However, the best tax tips may be in front of your eyes as you prepare your return. In fact, read this and become a little more savvy next tax time around. Read More…

2009 Federal Income Tax Deductions

If you are one of those generous people who donated to help Haiti, you can deduct the 2010 Haitian Relief Donations on your 2009 Return.

According to the IRS, you can claim 2009 deductions for Haiti relief donations made between Jan. 12 and Feb. 28, 2010. The IRS defines cash donations as those that include contributions made via check, money order, credit card, charge card, debit card, phone or text message. This is pretty much their standard definition.

If your donation(s) were under $250, you need either a bank record such as a cancelled check or credit-card statement or a receipt from the charity to prove your generosity. If your donation(s) were $250 or more, you must have a receipt from the charity.

Some people donated using their phone or by a text message. The IRS says a service provider bill showing the name of the charity, the donation date, and the amount is sufficient proof. In order to deduct these charitable contributions, you must itemize your taxes. For more information to help save your money at tax time check out Tax Tips and Tax Reduction Tips today.

Non-deductible Deductions

Many taxpayers confuse spousal and child support with alimony. Of the three, only alimony is deductible. It is considered income to the recipient and an expense to the payer. All of us wish we could deduct spousal and child support expenses. We’d probably never owe a dime in taxes if that was the case. Read More…

Indy Mac Bank

Money ferret very rarely recommends other websites. Not because we are snooty or think other people don’t have much to offer but we’ve been burned in the past. Having said that, we are now doing exactly the opposite. There is a site we believe gives an example of the dirty tricks being played on we the people in this thing called the foreclosure arena. A disclosure before you click the link – this site does have a couple of ads. However, they do offer a free subscription to their newsletter. In our opinion, free is an excellent price. Besides, if you don’t like their NL, you can always unsubscribe.

The link will take you to a video about the shenanigans that happened with IndyMac Bank. It doesn’t make a tinker’s darn if you even remember IndyMac Bank. It doesn’t make a difference because you the taxpayer still ended up paying through the nose. Go to: IndyMac Bank

and get the dirty low down. While there, surf the other links. The one about the Private Group should be quite enjoyable.

OK, so I don’t sound like I’m hyping this site, I’ll stop talking.

Keeping Tax Records

Something to keep in mind when it comes to keeping tax records is even though your records are no longer needed for tax purposes you don’t want to trash them yet. Check and see if you need to continue retaining them for other purposes.

Read More…

Fixed Interest Rate Definition

A relatively easy concept to understand, fixed interest rate is one of those rare financial terms that really means what it says. A fixed interest rate is a predetermined rate for the entire term of a loan, no matter the length of the loan. Read More…

Tax Records

The term tax records refers to your tax returns and the documents supporting the information in these returns. Supporting documents, for most people, include receipts, bank statements, 1099s, expense logs, etc. Read More…

Tax Information With A Twist

Tax information with a twist. A quick set of simple changes you can make very few people know about. You’re going to enjoy Mr. Cash’s tax information with a twist. Read More…