If you haven’t started already, now is the time to start your tax preparation. The sooner you start, the less stressed you’ll be.
Even though I have an accountant do my taxes, I still like to be prepared. Make sure you have all your information together, and the proper documentation. I make this something I do over the year, with folders for charitable contributions, income information (pay stubs, monthly PayPal statements, husband’s W-2, etc.), business expenses, savings account information and retirement account information.
But before things got so complex for me, I used to do my own taxes. The same basic rules …read more

Kelly over at Taxgirl sent me an interesting link. It’s about a woman in Indiana whose husband died. When she tried to collect her widow’s benefits, she was told that records indicated that she was the dead spouse. www.theindychannel.com reports on part of her story:

The government also sent a letter to her deceased husband, dated Nov. 16. It begins, “Dear Mr. Anderson: Our condolences on the loss of Mrs. Anderson …”
While humorous to us, it is important to note that there is a lesson here: It is important to periodically check your personal information. You want to …read more

Taxgirl and I are doing the Odd Blog Couple. It’s very exciting for me because it’s about government spending. I love politics. And I love sharing my two cents about what the government could do better.
The problem? Well, Taxgirl and I agree pretty well. So there’s not going to be much of a fistfight. Read her entry today, and watch for mine tomorrow. Then on Wednesday we’ll each respond to the other’s thoughts.

We’ve rung in 2008, but what happened in 2007? Over at Taxgirl, we’re listing the best business stories of 2007. To me, it’s always interesting that what goes on in the business world eventually has an effect on your personal finance situation. Here is the post:
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2007 was definitely a newsworthy year for businesses. Some businesses experienced record profits, some businesses spiraled into bankruptcy. Here, in one convenient package, are your top business stories of the year as compiled by the b5media Business Channel:
If you read Behind the Buzz even a little, you knew that Barbie Girl would make the list …read more

As the holiday gift giving season moves into seriously high gear, one of the questions I have received is whether or not a home is a good gift. So I thought now might be a good time to address it.
Just so you know, I am not a tax attorney, or a professional (like Taxgirl is), but I am aware that there are consequences to such a gift. Namely, the consequences to the recipient.
First of all, once the gift is given, the tax basis of the home shifts to the recipient. That means he or she is left paying taxes on …read more