33 ordspråk av Cindy Hockenberry

Cindy Hockenberry

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It's like giving yourself a raise and it is really the money-smart thing to do.

It's pretty common for people not to consider all the things they can deduct. They don't realize that maybe they have a vacation home and they don't take the interest because they think they can't.

June is a good time to sit down with your tax practitioner and review things to date. If you wait until later it is going to be harder to catch up.

For this year there's not a lot than anyone needs to worry about.

People often wait until the last minute to get this done and realize they can't do it this year. Another reason they should plan early is so they can notify their employees so they can start deferring their money.

People forget about tax credits and they don't take all the deductions to which they're entitled. That happens all the time.

If you want to save tax dollars, deferring your funds into a retirement account is probably the best solution. That money grows tax free and (if you take out a traditional IRA) you reduce your taxable income in the year you make the contribution.

I'm not thinking [the accelerated tax rate reductions] would have a huge impact. They always like to say it's an economic stimulus package because they want to give the illusion that the economy is recovering that people will have more money. But it's only a small drop in the tax rates and I don't think in the grand scheme of things most taxpayers are really going to notice it.

The Earned Income Tax Credit is on a bell curve.

The first thing you should do is to not panic. Sometimes they are just looking for a very specific thing, and if you give them what they are looking for it's no big deal. Just give the IRS what it wants and do it as fast as you can. That way it'll be over fast.

You'd be surprised: Many people think that if they throw their audit letter away it's gone. But it's not. The IRS isn't going to leave you alone. They'll keep at you until they get their audit.

It all comes down to whether you're defined as a trader or an investor. There's so much misinformation out there on the distinction, because the IRS hasn't really issued definitive guidelines on it.

If you know your itemized deductions will be more than the standard deduction, you can still just use the standard deduction to get an idea in your mind. This will give you the lowest estimate.

The IRS typically assumes you didn't itemize for one reason or another. They almost never notify you if you miss deductions but they will tell you if you miss income.

They need to make sure their payments are on track. There is nothing worse than realizing come April they have underpayment penalties.

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Här har vi samlat ordspråk i 12882 dagar!

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