When should I expect my W2 tax form?
Your W-2 tax form will be mailed to you by the end of January. If you have not received your W-2 form from your employer by February 1, you should contact your employer. Note that W2s are sometimes returned to employers due to an incorrect or incomplete mailing address. After contacting your employer, allow a reasonable amount of time for the employer to reissue you a replacement W2. If you still haven’t received your W-2 from your employer by February 15, you should give the IRS a call for help: 800-829-1040. When you call, make sure you have all your personal and work...
read moreSave Taxes with Last Minute Charity Donations
It’s not too late to get a tax deduction on this year’s taxes. You have until Janurary 31 to make any charitable donations which can be claimed as deductions on your tax return. Donations must be made to qualified charities in order to receive a tax deduction. Donations you made to a political candidate are not eligible for tax deductions. Clothing, cars, and other items donated to charity may be deducted. You may deduct the fair market value of these items. If you make a donation of $250 or more (in dollars or goods), be sure you get written acknowledgment from the charity or...
read moreHow Much Do I Have to Make Before I Must File?
So, you found yourself a little part time job to fill in the hours of the day. But how much do you have to make before the government is knocking at your door with their hand out for their cut? Here are some helpful numbers! (numbers are so considerately helpful…and from 2007!) Starting with you under 65ers: If you are single and make less than $8,750 (gross that is)–YOU DON’T HAVE TO FILE! YAY YOU! If you can consider yourself head of house and make less than $11,250–YOU DON’T HAVE TO FILE EITHER! Married and filing jointly? $17,500 is your number as long as...
read moreHybrids Save You Money (on your taxes I mean!)
We all knew driving a hybrid is better for the environment and saves you money on gas, but did you know it can also save you money on your taxes? Totally true! The government offers what they call an “Alternative Motor Vehicle Credit” for you environment conscious who purchased your vehicle on or after January 1, 2006. If you are in the market for a hybrid, there is an incentive to buy earlier rather than later. The amount of the credit involves the year of your vehicle as well as what number sold your vehicle was. (As in the 4,000th hybrid sold this year sorta thing.) The...
read moreWhere to Get a Copy of Your Tax Return
You forgot to make a copy of your tax return for yourself! Whoopsie! In the rush to get to the mailbox in time for the last delivery of the day (something you could have saved yourself had you taken my advice and e-filed, but whatever!) you didn’t make that ever important copy for your files. DUH! What do you do now? Unfortunately, you’ll have to spend a little bit of money but it is a solvable problem. For $39 made out to the ”United States Treasury” per tax year requested, Form 4506 “Request for Copy of Tax Return”, and 60 days you will be back to...
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