Do-It-Yourself
Tax Savings
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Rack Up Tax Savings Before You File Your Return
Once you take advantage of every possible tax-saving opportunity on your 2007 tax return, we can let you in on a dirty little secret: The best chances for savings come before you put pen to paper ... through the actions you take throughout the current tax year. Find out the moves to take this year that can increase your tax savings.
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Next: Tax Savings for Young People -
Tax Savings for Young People
By keeping track of moving expenses, using a Roth to save for your first home and timing your wedding, you can save come tax time.
More Tax Savings for Young People
Next: Tax Savings for Single People -
Tax Savings for Single People
Reduce the amount you owe to Uncle Sam by adjusting your withholding, switching to a Roth 401(k) and making IRA contributions sooner rather than later.
More Tax Savings for Single People
Next: Tax Savings for Young Families -
Tax Savings for Young Families
Take advantage of your flex account, save for college in a 529 plan and hire your children to lower your tax bill.
More Tax Savings for Young Families
Next: Tax Savings for Domestic Partners -
Tax Savings for Domestic Partners
Qualifying couples in California, Connecticut, the District of Columbia, Massachusetts, New Jersey, and Vermont may file joint state tax returns, but this new right comes introduces unanticipated complications.
More Tax Savings for Domestic Partners
Next: Tax Savings for Older Families -
Tax Savings for Older Families
Time claiming Social Security benefits, keep careful records of medically necessary improvements to your home or car, and tote up out-of-pocket costs of doing good.
More Tax Savings for Older Families
Next: Tax Savings for Affluent Families -
Tax Savings for Affluent Families
Stash cash in a self-employed retirement account, be creative with your generosity and think twice about selling stock for a profit if you're subject to the AMT.
More Tax Savings for Affluent Families
Next: Tax Savings for Older Affluent Families -
Tax Savings for Older Affluent Families
For tax savings, convert a vacation home to your principal residence, give an IRA to charity and double your family's estate-tax break with a by-pass trust.
More Tax Savings for Older Affluent Families
Next: Tax Savings for Empty Nesters -
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Tax Savings for Empty Nesters
Roll over an inherited 401(k), help your children earn a credit for retirement savings -- and rack up tax savings in the process.
More Tax Savings for Empty Nesters
Next: More Tax Help -
Kiplinger on Taxes
Recent Comments
Bladesk9 09:08:40 PM Feb 09 2008
I think it gets worst every year! Now look! vote carefully for the next president of the u.s
NDBBM4 08:36:50 PM Feb 09 2008
Get competent advise, structrure your financial affairs in a business like manner, don't use Tax software to prepare your own tax, stay away from big name (HRB) outfits, get a recommendtion for a good tax advisor (not necesarily a CPA), and be prepared to pay a fair fee for professional service.
NDBBM4 08:28:54 PM Feb 09 2008
If you're paying too much in tax.....you need a better tax expert and financial advisor !Accountants are not necesarily the best people to advise on financial matters.
Netman2670 07:58:39 PM Feb 09 2008
To Gramasally5. So are you saying people who don't have children living in their home shouldn't pay school taxes? Did you put your children through public or private schools? If they were public schools, you didn't pay for them yourself nor did all the parents collectively with children. Society pays for children to learn for the better of society. If we have good education systems that are well run and well funded, we have less societal issues in the long run. It's an investment in your's and your children's future. It's not just about paying a tax. Look at the bigger picture rather than just your own little world.
GDC49 07:55:10 PM Feb 09 2008
AOL's POLITIKOLLY KORRECT info nazis our monitoring this site for anything that tells the truth about the IRS... Be warned. AOL is part 'n parcel to the Establishment
SC Seaside 07:52:29 PM Feb 09 2008
Mindbogglr wrote, "Everybody complains about taxes, yet demand more and more government guarantees, protection and services. " As my friend Yosemite Sam would say "Whoa Mule!" I'm not demanding anything from the government. In fact I wish they would do less and less. Everyone and his brother is looking for a hand out from the government and the politicians just keep telling us we need more and more. That's just so much mule dung. Tax, spend, raise taxes, tax, spend, raise taxes, tax, spend, raise taxes....anyone see a pattern here?
I'm for a national sales tax. Everyone pays, even illegal immigrants and torist. Let the government give it back to everyone who makes less than the poverty level and keep the rest. Seems fair to me. Everyone pays the same but, I don't suppose that makes too much sense to mule headed people that think they have to provide everything for everybody.
JNUKE1 07:36:05 PM Feb 09 2008
I agree with Angnaac. Not only would the Fair Tax be the same percent for all people, because it is based on what you buy and not what you earn, if you are poor and don't buy anything, you don't pay any tax. If you are rich and you buy expensive items, you pay more. No escaping paying, but your income from your employer is ALL yours.
And I think, most importantly, if we can get the fair tax, it will stop the politicians from pitting poor people and rich people against each other.
You will never hear that rich people or poor people don't pay their fair share.
But I also read that many of the democrats won't vote for it as it is would take their power away since they can't pander to the poor and uneducated.
Mindbogglr 07:29:31 PM Feb 09 2008
ANGNAAC 07:20:48 PM Feb 09 2008
Report This! This is an excellent reason to urge our government officials to adopt the FairTax plan. We are paying out the gazoola to cover those who pay no taxes because of possible professions where taxes are not taken out and witht he Fair Tax, there would be taxes paid by them and those of us who have had our pay checks snared before we ever saw them would not be in such a pinch. www.FairTax.org will enlighten you.
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It is basically a consumption tax. It has possibilities , but Huckabee has never explained, to my satisfaction, how we would stop a BLACK MARKET of selling things under the table. In that scenario, (possibly) then, only time an item would be taxed is on the first time it sold...after that, I THINK, a BLACK MARKET would occur where the same items are bought and sold "UNDER THE TABLE" in order to avoid the the taxes due at each separate transaction..
Montgumby 07:27:31 PM Feb 09 2008
Why are you looking for ways to pay less in your taxes? I thought you liberals want to pay more since you keep voting for democrats. If you want your paychecks to be smaller, or your refunds to be smaller, or your checks that you send in to be LARGER, continue to vote Democrat and you WILL get your wish. But don't go complaining about high taxes and high gas prices if you do. (About HALF of what you pay at the pump is taxes!)
ANGNAAC 07:20:48 PM Feb 09 2008
This is an excellent reason to urge our government officials to adopt the FairTax plan. We are paying out the gazoola to cover those who pay no taxes because of possible professions where taxes are not taken out and witht he Fair Tax, there would be taxes paid by them and those of us who have had our pay checks snared before we ever saw them would not be in such a pinch. www.FairTax.org will enlighten you.
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Taxes: Basics
Anyone seeking help with taxes should start with the fundamentals. Here are the basics of taxes.
- Who Must File a Return
- Audits & Penalties
- Taxes on Capital Gains
- Withholding Your Taxes
- Common Tax Credits
- Personal Exemptions
- All About AMT Tax
- Calculate Taxable Income
- Itemizing Deductions
- Filing a Return Online
- 2007 Tax Brackets
- 2008 Tax Brackets
- Standard Deductions
- How to File an Extension
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