Guess what? The tax season is right around the corner. For many people, thinking about taxes can cause some anxiety. Will I or will I not have a refund? What’s a W-2 and when do I get it? What do I do with all those papers I receive in the mail? Tax season really doesn’t […]
Important Tax Rules For The Self Employed: Payments Are Coming Due!
The IRS defines a self employed person as one who: Carries on a trade or business as a sole proprietor Is an independent contractor Is a member of a partnership, or Is in business for yourself in any other way General Tax Considerations For The Self Employed If you earned $400 as a self employed […]
2009 Federal Income Tax Brackets: Official IRS Marginal Tax Rates
This past week I’ve been getting all of my tax information together to make my final estimated tax payment for the one that’s due on January 15th. One thing I’ve realized during that time is that sometimes the tax information isn’t all that easy to find when you’re searching the IRS site. For example, if […]
10 Year End Tax Deductions And Credits That You Can Claim In 2009
It’s the last week of the year, and it’s your last chance to take advantage of some last-minute tax deductions for 2009. If you’re anything like me, you’ll want to make sure that you do anything you can to lower your tax bill this year. 10 Tax Credits And Tax Deductions Increase your retirement account […]
2010 Home Improvement Tax Credits For Energy Efficient Products (Insulation, Windows, Heaters, Etc)
Congress has extended energy efficiency tax credits for most homeowners through the end of 2010, so if you’ve been looking to upgrade your water heater or windows and doors, you can probably still get a tax credit in the coming year. Some less common of the tax credits for home improvements will be around all […]
Tax Considerations For Ministers
Since church ministers are in a unique tax situation it is important for all ministers to understand their unique tax situation. When you work and earn an income you will need to pay taxes. We should pay unto Caesar what belongs to Caesar, but if Caesar is offering you a tax break you should be […]
$8000 First Time Homebuyer Tax Credit Extension: Take Advantage Of Incentives Through June 30th, 2010
The homebuyer tax credit closing deadline has been extended until September 30th, 2010 for those who were under contract by April 30th, 2010. Details here. If you’re a first time homebuyer and you thought that you might be out of time when it came to getting the $8000 refundable tax credit, think again! On Friday […]
$6500 Homebuyer Tax Credit For Current Homeowners Signed Into Law Today. Is It Retroactive?
Last week I wrote about how congress was attempting once again to pass an extension of the $8000 first time homebuyer tax credit. There had been several false starts to get an extension passed as the senate and congress weren’t able to agree on amounts of credits, whether to extend the credits at all, and […]
Cash For Appliances Government Stimulus Rebate Program Will Give Money For Old Refrigerators, Washers And More
The past couple of months we’ve talked quite a bit about the Cash For Clunkers program, how it worked, and who could expect to receive a voucher towards the purchase of a new car. People were split down the middle as to whether the voucher program was even a good idea, with some saying it […]
What Is A Marginal Tax Rate, And How Can You Use It To Save?
One financial term often used, but not always understood, is “Marginal Tax Rate” or Marginal Rate for short. It’s used so often that financial writers take its meaning for granted. Today, let’s look at this term, understand what it means, what it’s not, and how we can use this information to our advantage. Let’s take […]
Quarterly Estimated Tax Payments For Self Employment Income Are Coming Due!
Since I’ve started blogging and collecting a small amount of income for doing it, I’ve had to start paying quarterly estimated taxes for the money that I’ve been making. It can be a complete pain to do this because not only are you cutting the government a nice sized check, but you have to do […]
Tax Rules And Consequences Of The Cash For Clunkers Program
I’ve written quite a bit about the cash for clunkers program here on Bible Money Matters in relation to how the program worked, who qualified for the rebate, and how you could go about redeeming your voucher. The program has now run its course, and now that the excitement has died down people are beginning […]
Time Is Running Out To Get The $8000 First Time Homebuyer Tax Credit
A few months ago we wrote for the first time about the $8000 first time homebuyer tax credit that the Obama administration passed as a part of the 2009 stimulus bill. The measure was aimed at helping to improve the real estate market that has taken such a huge hit over the past year. They […]
Cash For Clunkers Program Is Dead Again. Gas Guzzler Trade-In Program Ends Monday.
We’ve been talking a lot recently about the Cash For Clunkers program, and how the program has been successful by some standards, and troubled in other ways. The program ran out of money one week after it launched, and was only re-launched after congress passed another 2 billion dollars for the program. Now the program […]
