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Archive For: Taxes

Common Tax Filing Mistakes Even Smart People Make

I saw this list at DailyFinance.com and thought it might help you if you prepare your own taxes. According to one group of tax experts, here are the most common tax return mistakes: Entering the wrong Social Security number Putting the right information on the wrong line Forgetting to sign ... Read More

Tax Reform Idea That Makes Sense

I don’t think many people would argue that current U.S. tax laws are understandable or make common sense. However, it seems that two U.S. Senators have hit upon a common sense process that might reform the hodgepodge tax system we have now. In a press release they sent out on ... Read More

Final Pesonal Finance Lesson From Final Episode of “Downton Abbey”

In this post on the personal financial lessons from the popular PBS series “Downton Abbey,” I want to remind you of the seven  SmartMoney Rules™ because they all apply to the characters of “Downton Abbey” and their predicaments. 1. Have an abundant money mindset. 2. Protect yourself first. 3. Have ... Read More

Tax Matters

Higher tax rates possible for 2013  I expect higher tax rates in 2013 when the 2001 and 2003 tax laws expire at the end of this year. Of course, Congress may vote to extend the current tax laws, or may vote to continue them for only one more year, or even make ... Read More

Will the IRS audit you?

It’s the start of tax season and here’s some fun facts. In case you were wondering, according to IRS records, these are the odds you’ll be audited: Earnings                           Audit Risk Under $200,000                1% $200,000 — $1million       2.7% Over $1 million                   8.4% Solopreneurs have a 2.6% chance of an audit and ... Read More