I resent that "Getting Married" and "Having Children" are listed before "Buying your first home."

I feel so underaccomplished...

Via Kiplinger

The article kind of makes it sound number 8 only applies if you're only self employed but I can't imagine those rules don't apply just because you kept the regular 9-5 job too.

The college one seems to contradict itself:

"Hope and Lifetime Learning Credits. ... You can't claim both credits for the same student in the same year."

and later

"The Hope Credit may be received along with the Lifetime Learning Credit"

I also read that as Val Kilmer, and my first reaction was, "Oh good, he's doing something these days.

Most of these are a little ridiculous. "Getting your first job" is NOT a tax saving move... you go from paying little to no taxes to paying 40% of your income in taxes. Even if you can deduct job searching expenses, it's still called a "deduction," because you're deducting the probably about less than 1/100th of a percent of the overall you spend on taxes.

@AshleyKeen: The order of the list is pretty interesting. I like the "changing jobs" -> "working from home" -> "selling your home" interaction myself. Things fall apart much?

Does it really matter anymore though? My (current) fiance and I bought our house a year ago, before our engagement. Then again, we're also not planning children at all.

I guess its like my mom said recently: "you seem to have put the cart before the horse, but do what is going to make you happy".

Great info, now I can save some money on my taxes!

I am not too sure the "buying a home" one is up to date. It talks about a $7,500 tax credit that has to be repaid. My understanding is that for 2009 it's now $8,000 and doesn't have to be repaid.

What about going to grad school?

@SwatLax: Nevermind, I guess it's the same as sending your kid to college. Except I'm the kid.

Um, I'll ask the obvious question regarding this topic. Where's tax cat?

@MichaelBrazell: read the title and description again. I think they're tax saving moves for when these things come up.

@Jabes: The article is from December 2008. The stimulus package was but a gleam in Obama's eye at that point, so yeah, that info is out of date.

@jpmoney:

Getting hit with a major illness or injury -> Getting divorced

"Bob was never the same after the accident."

I read the one about getting married and I'm suddenly scared. I can barely do my own taxes, let alone the taxes for both of us. This will be a financial explosion.

The Buying your first home is old and it still talks about how the $7500 is interested free loan, and does not mention the current $8000 credit if you buys home before 12/1/09

@Hil-fish: Well, technically it's true, it just doesn't include the newer tax credit. The $7500 credit (that has to be repaid) is still in effect, and you can claim it for purchases until July 1. However, you'd definitely want to claim the newer $8000 credit instead if you bought after January 1.

@Jabes:

I'm glad I'm not the only one who noticed that.

Old article...that explains it.

@korybing: Get him to do it.

@MostlyHarmless: As impaired as I am when it comes to finances and numbers, he's about the same. This is what happens when two art majors with no innate math abilities marry.