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Posted
Dec 12 2007, 09:56 AM
by
Karen Datko
Money Blog: Smart Spending Blog - MSN Money
You want to give money to help those truly in need, but how do you figure out if your contribution will make a difference? Laura Milligan at Credit Card Lowdown provides an excellent resource with "50-plus online tools to research, select and donate to charities." Milligan lists 11 Web-based guides to U.S. charities, starting with the IRS; 11 that enable donations to international charities, and 11 search engine "donation stations" that give to causes when you use their services. (For instance, searches done at Search and Give prompt a donation by Microsoft to a charity you choose.) Before you decide which causes you want to support, consult one or more of the Web sites on Milligan's list that allow you to vet an organization.
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Posted
Dec 27 2007, 12:47 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
Dan at Money Myths congratulates Congress for sparing 21 million Americans from having to begin paying the dreaded alternative minimum tax -- or so-called "awfully mean tax" -- but asks: Why did this take so long? By waiting until six days before Christmas to act, Congress made life difficult for the IRS. If you've been used to filing your taxes in January and getting a refund, you may have to wait an extra month before the IRS can begin processing tax returns. And that, Dan calculates, can cause some pain.
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Posted
Jan 28 2008, 11:55 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from Lisa Wade McCormick at partner blog ConsumerAffairs.com. Con artists in Missouri are exploiting consumers' hopes of receiving hundreds of dollars in tax rebates proposed as part of a federal economic stimulus package. The FBI today warned taxpayers that scam artists are contacting consumers at home and claiming to be with the Internal Revenue Service. The con artists tell consumers they need their Social Security and bank account numbers to send the rebate checks. This is a ploy to steal consumers' identity, FBI officials said.
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Posted
Feb 01 2008, 06:27 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
The scammers are out in full force this tax season, targeting taxpayers, accountants and anyone else who can answer a phone or open an e-mail. Kay Bell at Don't Mess With Taxes gives readers a rundown on some of the latest tactics being used to steal your identity. One is an e-mail purporting to be from the IRS, asking you to click on a link to a refund claim form, where you're instructed to provide personal financial information. A similar e-mail tells you that you're going to be audited. Unlike many phishing attempts, this one actually addresses you by your name, Kay says.
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Posted
Feb 14 2008, 10:35 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
Lots of readers have told us they're confused about how the tax rebate will work, so we'll try to shed a little light on the matter.
The rebates -- tax blogger Kay Bell dubbed them "prebates" -- are an advance on a tax credit you would have gotten when you filed your 2008 tax return. You're just getting it a year early, says Bell, of Don't Mess With Taxes. The amount will be based on your 2007 tax return and range from $300 to $600 per adult, up to $1,200 for married couples who file jointly, and $300 per child under 17 years of age.
You're eligible if you have at least $3,000 in qualifying income. To see a government document for details about how much you can expect to get, click here.
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Posted
Feb 15 2008, 10:46 AM
by
Karen Datko
Money Blog: Smart Spending Blog - MSN Money
Have a question for your tax preparer that you think will sound stupid? You're probably right, says Creative Accountant at Just Read the Blog. But, for those who insist on testing "the patience, sanity and trigger finger of tax accountants," Creative Accountant presents a list of questions you really should avoid. Your dog is not a dependent. Also, you can't claim your sister's kid as one just because she can afford not to. "Sorry," CA says. "I don't make the rules." Now, on to medical expenses: "Botox and *** implants are usually not deductions," CA writes. "Now, most women probably just zoned in on the word 'usually.' So when is it a deduction? There is a good shot if you are a stripper it will fly."
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Posted
Feb 25 2008, 11:16 AM
by
Donna Freedman
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from Abby Freedman, a freelance writer and daughter of Smart Spending blogger Donna Freedman.
As an aspiring accountant, I am just odd enough to find income taxes fascinating.
Still, I understand there are saner individuals out there who prefer to duck and cover until this season is over.
Generally, they cope by forking over $100 to $200 to have simple returns completed -- and not necessarily by a CPA -- at a "tax-in-the-box" establishment.
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Posted
May 12 2008, 01:06 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
The government giveth, and the government taketh away, given the opportunity. You might want to keep that in mind when you're wondering why your economic-stimulus check is smaller than you thought it would be. Kay Bell, the author of our favorite tax blog, Don't Mess With Taxes, explains: "If you owe the IRS federal taxes from previous tax years or have ignored a variety of nonfederal debts you owe, Uncle Sam can take those uncollected amounts out of any federal money you might be due."
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Posted
Jun 02 2008, 01:34 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
We're in the same boat as "PT" at Prime Time Money. Our tax-rebate check has yet to arrive. Just like PT, we thought our rebate would be direct-deposited into our checking account on May 9, based on our Social Security number and the IRS payment schedule. So, like PT, we dug a little deeper to find out where it could be.
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Posted
Jun 23 2008, 04:17 PM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
Irreverent, hilarious, provocative and profane -- all were qualities of the great George Carlin, who died Sunday from heart failure. But who knew that Carlin was also a good source of financial advice?
What else would you expect from the comedian who so well understood our fascination with materialism, as demonstrated by his "A Place for My Stuff"? ("Bouncing Back" at Bouncing Back from Bankruptcy, one of many Carlin fans who mourned his passing online, provides a link to the "stuff" routine. Considering it's Carlin, the language is only slightly off-color.)
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