The IRS just announced that new car buyers can deduct the state and local sales and excise taxes on their 2009 tax returns next year, according to our furry little tax adviser.
This year the IRS is letting each and every one of us file our taxes electronically free of charge. Didn’t the IRS already let all of us eFile our taxes for free, you ask? No. The IRS has a program called Free File, which provides free commercial tax help to anyone making less than $56,000 per year. This program, enticingly known as Free File Fillable Tax Forms, is different…
Tax Cat here. It’s that time of year again when our thoughts turn from the lovely holiday season to the pile of receipts and other crap that we don’t want to deal with — taxes. If you’re thinking of hiring someone to prepare your taxes this year — the IRS has some tips that will help you choose a qualified professional.
Silly tax payer! You’re not supposed to deposit your tax rebate into your IRA. You’re supposed to spend it on blu-ray players and expensive diet pills and GPS systems! No more maps for you! Sadly, if you asked the IRS to deposit your tax refund into your IRA, they’re going to deposit your rebate there too.
There are a lot of myths and rumors going around out there about the upcoming stimulus check. Tax Cat is in full debunk mode this morning. Careful of the claws, ladies and gentlemen. He gets touchy when tax season ends and he has to retire the glasses for another year and go back to ruining things in Chad’s apartment.
Taxes are due in two days and change. Did you pay them yet? If you still haven’t sat down with your W2s, don’t worry, there’s still time to fire up the old Casio.
You need an extension.
The IRS knows you owe them money and they realize that you may not actually have any to give them. Don’t worry, they’re not going to come in the night and steal all your Nerf footballs and catnip.
If you have your own business, you can write off your expenses. This reduces you income, and lowers your tax bill. Sadly, you can’t just write off whatever you want.
Tax Cat knows that it’s a hard subject, but if your home has been foreclosed there’s something you should know about changes to the tax laws.