Tax Time Tools and Resources

Tax Tools

Tax time doesn’t have to hurt with these tips, tools, and resources Photo: ChuckHolton Let’s be honest here–tax time sucks. Whether you’re filing business or personal returns (or both), it’s typically very stressful. Even with a CPA, I still spend a ton of time pulling records together, getting the stuff to my accountant, and meeting […]

Published or Updated: February 5, 2013

Quarterly Estimated Taxes: Due Dates and Payment Strategies

Quarterly Estimated Taxes

Due you owe quarterly income tax? If you do, don’t miss the estimated tax deadline. Photo: OhioProgressive There are a lot of things to like about being self-employed. Estimated taxes is not one of them. If you are self-employed, a freelancer, or earn other income that is not subject to withholdings, paying state and federal […]

Published or Updated: January 15, 2013

The 2013 Tax Hike–What You Need to Know

2013 Federal Tax Hike

Taxes to rise for everybody in 2013 (Source: WSJ) As you’ve probably heard by now, our leaders in Washington have reached an agreement on tax hikes for 2013. While higher rates for the wealthy have dominated the news coverage, the deal reached actually raises tax on all workers. While most of the tax hikes hit […]

Published or Updated: January 2, 2013

15 Last Minute Tax moves for 2012

Last Minute Tax Moves

It’s not too late to make some year end tax moves for 2012 With the year coming to a close, now is a good time to consider a few last-minute tax moves. This year is particularly challenging because the chuckleheads in Washington can’t seem to get their act together with tax policy. While taxes are […]

Published or Updated: December 29, 2012

What is the Saver’s Tax Credit?

Uncle Sam

One of the most overlooked tax credits is also one of the best. If you qualify for this credit, the government actually pays you to contribute to your retirement account. It’s called the Saver’s Credit (officially the “Retirement Savings Contributions Credit”), and it’s one you don’t want to miss. The Saver’s Credit is designed to […]

Published or Updated: December 23, 2013

Is a Donor-Advised Fund Right for You?

Donor-Advised Funds

Donate stock to charity through a donor-advised fund Photo: opensourceway My wife and I just opened a donor-advised fund. If you’ve been a long time reader of the Dough Roller, you know from my 2007 investing update that we’ve been considering this alternative to charitable giving for a long time. Today we’ll look at why […]

Published or Updated: April 21, 2014

What You Need to Know About the Fiscal Cliff

Fiscal Cliff

Imagine your finances are in shambles. You’re drowning in credit card debt and not making nearly enough money. So you cut your discretionary spending and get a second job to generate some more income. Most would applaud the responsible steps you are taking to fix your finances. If you are the government, however, we call […]

Published or Updated: January 1, 2013

How About a 91% Tax Rate?

Yesterday I read an article written by Paul Krugman that made me hurl. Called The Twinkie Manifesto, the title of the article was the best part; it was all downhill after that. Krugman wants us to return to the day when the top marginal federal income tax rate was 91%. And his argument is as […]

Published or Updated: November 21, 2012

The Lowest and Highest State Taxes (Map)

highest and lowest state taxes

The Tax Foundation recently published a state-by-state study on state and local tax burdens. The study lists that tax burdens by state, including a ranking from highest to lowest state taxes. New York was the “winner” with a state tax burden topping the charts at 12.8%. Alaska has the lowest tax burden at 7.0%. The […]

Published or Updated: October 29, 2012