2010 Federal Income Tax Brackets & Standard Deduction
Marginal changes from the 2009 tax bracket should make the 2010 Federal Tax Brackets easier to follow and understand; should.
“Author Archive”
W. R. Mineo has been a volunteer tax assistant for more than 20 years beginning during his military tenure and continues to provide community based volunteer income tax assistance (VITA) when possible; he is a frequent writer, consultant and contributor for L5DG Webmaster Services Company; he lives in Vine Grove, near Fort Knox and Elizabethtown KY.
Retirement Savings Withdrawals
Making an early withdrawal from your retirement savings account can have steep penalties, but there are exceptions to the early withdrawal penalties you should know about.
Expanded Standard Deduction
The expanded standard deductions for your tax calculations will put more money back into your pockets.
Energy Tax Credit
Energy Tax Credit New Credit for the Environment-Friendly Homeowners The U.S. government is coming up with new credits to help the citizens improve their way of living one is the Energy Tax Credit. Actually, this credit is not totally new but was revised for the benefit of the homeowners and the environment. This is meant [...]
Child Tax Credit
Child Tax Credit Revisions and Adjustments The Child Tax Credit is applicable to taxpayers who have a dependent or dependents that is or are living with the taxpayer. The said dependent should be below 17 years of age by the end of the tax year. Child Tax Qualifications There are qualifications and requirements that should [...]
Capital Gain Tax vs Ordinary Tax
Capital gains taxes can be steep; figure out if you need to claim as capital gains tax or ordinary taxes to make certain you only pay what is necessary.
Retirement Account Withdrawals
Avoid paying large and often unnecessary penalties for withdrawing from your retirement savings account. There are exceptions that allow withdrawals prior to the age of 59½.
Emancipation Day Extends Tax Day 2011
Tax Day 2011 is extended until Monday April 18, 2011 due to the District of Columbia officially holiday, Emancipation Day, commemorating President Lincoln’s signing of Compensated Emancipation Act freeing Washington D.C. slaves.
Free Tax Preparation and Filing
As a former tax preparation volunteer during my military service days, I am always taken aback and appalled at the number of people who pay hard earned and tough saved dollars to have their basic income taxes forms prepared and filed for them – there is free tax assistance programs for most Americans!
IRS Tax Debt Help
The IRS imposes penalties and interest for delinquent taxes owed; however, the IRS will work with tax payers to mitigate these additional charges that increases their tax debt and overall debt burden, but only if you make the request.
