E-File is Now Open: Why You Should File your Taxes Early

You’ve got less than 12 days to reduce your taxes for 2006!   I know it’s the holidays but it might be tax wise to take some time before 1st of January to check out your taxes. To start off, you...

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Now that the 2005 tax season is over, it’s time to talk about your 2006 taxes. In the news, we often hear about “cost -of-living adjustments” and “inflation-indexed” changes to taxes. But do we understand how that affects our tax...

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There are only a few weeks left reduce your taxes for 2006 by increasing your deductions and credits.  Here are a few ideas: Cash Contributions Donate to your favorite charity by December 31, 2006. Be sure to get out your...

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This summer the IRS sent out a notice that in one month alone they received 1300 reports of bogus emails claiming to have been sent by them.  They were all examples of typical phishing type emails.  In these emails a...

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For enlisted members and warrant officers, all of their combat zone military pay is excluded from federal tax.  (Officers pay is excluded up to the maximum amount of enlisted pay plus some.)  However, often times, with their pay not being...

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Yes, there is a home energy credit for 2006 and 2007.  However it may not be all that you hoped for, though.  I’m going to give you an overview.  It’s a non-refundable credit with other limitations.  However, don’t despair at...

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Do you know that if you purchase a hybrid car that you might get a tax credit on your federal tax return? And depending on which hybrid car you buy, the credit could be over $3,000! (A tax credit is...

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If you were one of those affected by Hurricane Katrina and given an extension of time to file both your 2004 and 2005 tax returns, the IRS sent out a reminder today.  Those returns are due October 16th, 2006. You...

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Did you know that the amount that you can contribute to your IRA was going to go down to $2,000 in few years?  Yep! Down!  I bet you’re saying “…but the amounts are increasing?”   That’s right. It’s been increasing based...

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