Twitter Tax Tips #18
You can deduct tax prep fees (includes tax pro costs, software, e-filing, etc) in the year you pay them if you itemize. #TwitterTaxTip (For more on twitter tax tips, see my prior explanatory post.)
You can deduct tax prep fees (includes tax pro costs, software, e-filing, etc) in the year you pay them if you itemize. #TwitterTaxTip (For more on twitter tax tips, see my prior explanatory post.)
If you’re still looking for ways to minimize your tax this year, remember that you can make contributions to your IRA thru 4/15 #TwitterTaxTip (For more on twitter tax tips, see my prior explanatory post.)
And now the (legal) world knows! Here’s a bit in this month’s ABA Journal on twitter. And yes, the girl in the photo with the goofy expression? That’s me.
Don’t forget that mileage to/from medical visits are deductible if you itemize – so are parking, tolls and transit. #TwitterTaxTip (For more on twitter tax tips, see my prior explanatory post.)
Filling out those tourney brackets? Remember that your winnings (and all gambling winnings) are taxable! #TwitterTaxTip (For more on twitter tax tips, see my prior explanatory post.)
If you’re planning on requesting a corp tax extension, remember it’s an extension of time to file, not time to pay. #TwitterTaxTip (For more on twitter tax tips, see my prior explanatory post.)
Expense it! In 2008, businesses can expense up to $250,000 of §179 property instead of depreciating. #TwitterTaxTip (For more on twitter tax tips, see my prior explanatory post.)
If you file MFS and your spouse opts to itemize, you must also itemize your deductions. #TwitterTaxTip (For more on twitter tax tips, see my prior explanatory post.)
We have a winner! See comments! Our next tax trivia question is: Beginning in the early 19th century, the US did not impose any direct taxes on income for nearly 50 years. Other than occasional excise taxes, what was biggest revenue raiser for the US during that time? Don’t forget: the first correct answer wins…
Double check Social Security numbers on your return. Incorrect SSNs are the 2nd most common tax return error. #TwitterTaxTip (For more on twitter tax tips, see my prior explanatory post.)