Tax Ready

pennypinch · #1 01-14-2010, 04:08 AM

It's that time! Are you ready? Tax season is here and now is the time to start digging out all of that paperwork if you haven't already!

I am all ready except for one 1099 I am waiting for. Other than that I am all ready to go and have my taxes prepared. I am looking forward to having it done with!

I know that I will get a return but I am not sure how much. I know that there a lots of tax calculators on the web where you can estimate your return but I have no idea which ones are accurate. I tried using two different ones and the one results said that I will get a return and the other one says I will owe the government which I am sure that I don't!

Do any of you use the calculators? If so, which one is the most accurate? I'd really like to get an idea of how much my return will be for so that I can figure out my bills lol! I'd like to pay a few things off but that all depends on my return.

I wouldn't put off getting things ready. Everyone is to receive their w-2's or 1099's (or whatever you are to receive) by January 31st.

Rae74 · #2 02-17-2010, 10:50 PM

Oh yeah,just a hint of helpfull advise,we all have doctor bills and prescription costs.Did you know that your doctors office and your pharmacy will print you out a copy of your years expenses with them and that you can claim that as a deduction on your taxes.It is true,I had a major surgery in 2005 and was out of work for a while because of it.Our finances were in dire need of help.Bills were so far past due that I did not know where to start.

Then I went to see my tax lady,and she proceeded to tell me that I can use all those bills from my surgery and my medications as tax deductions.It raised my tax check about $2500. WOW

Rae74 · #3 02-20-2010, 11:23 PM

Just a few tips to help make sure that you are prepared for the upcoming tax season.
1 make sure that you have copies of all of last years medical bills and prescription costs.

2 Get together any reciepts that you may can deduct for,like gas,dinner out every now and again,tools,houshold building supplies.etc...

3 Remember that most home loans are tax deductable.

4 Any school cost for your child can be used as a tax deduction.

These are just a few things that might help you this tax season.

carol b · #4 02-23-2010, 03:02 PM

Hey don't forget if you bought a new car in 2009 you should take that reciept too.

You should also take the reciepts for any new appliances you bought. If they are energy efficient they are also a deduction.

Property taxes, plate fees for your vehicles also. There are so many things that you can use. I suggest checking the IRS website as there is a list that may be helpful to you.

moneysense · #5 02-23-2010, 03:36 PM

Yes, checking the IRS website is a great idea simply because things change so often and you wouldnt want to miss any deductions that might be available to you.

If you are self employed, be sure to check for any new deductions or changes in old deductions.

Be sure also to check to see if you are eligible for the EITC credit. You dont have to have a child to get it in some cases.