Years ago, the fellow who was running the IRS at the time told Kiplinger's Personal Finance magazine that he figured millions of taxpayers overpaid their taxes every year by overlooking just one of the money-savers listed here.You know your federal taxes pay for government programs and services, like roads and national defense. And you may even know the difference between FICA and income tax. But did you know if you want to buy sparklers in West Virginia, you can expect to pay a special fee?
Did you know President Abraham Lincoln, one of America's most beloved leaders, also instituted one of its least liked obligations - the income tax? In tihs brief history of taxes, see the historical events which shaped income taxes in the United States today.
Ever wondered which state has the highest gas tax or the lowest overall tax burden? Interact with the infographic below to compare income tax, property tax, and other taxes by state.
Thinking about making a charitable donation, or want to bestow your generosity on a loved one? The first thing you have to do is understand the tax implications. Not every charity is created equal when it comes to donations. Some may not qualify to have gifts count as tax write-offs, and some others may not be fulfilling their mission. It's up to you to do the checking to know if your check is getting to the right place for the right purposes.
Parents may seek tax breaks on everything from child care to educational costs and even supplies, in some cases.
I could not see #9, 10 and 11 - #9 copy is garbled and then the screen keeps getting stuck - help please.
3 hours ago Report abuse Permalink rate up rate down ReplyDon't forget that for the moving deduction to apply you must have a job in the new location first. You can't move and hope to find a job.
January 20 2012 at 8:30 AM Report abuse Permalink rate up rate down Replythat's always great.... if you kept the receipts
January 18 2012 at 11:56 PM Report abuse Permalink rate up rate down ReplyWouldn't you know it? None of the deductions listed apply to me. And the fact that my wife works part time makes my social security taxable. I am disabled to the point where I can't work any more but I don't get anything for that because I am considered to be retired at age 70. So we always have to cough up more more money than was witheld during the year. And to think that I spent a year in Vietnam getting shot at (ineffectively) to defend a system that does that to me.
January 18 2012 at 9:59 PM Report abuse Permalink +1 rate up rate down ReplyRight on top of ADD A COMMENT is the section dealing with FEDERAL GUIDELINES FOR GARNISHMENT.
Read this and then email me on AOL with your questions about owing back taxes. I retired from the IRS after 35 years in the Collections division
If the Senators and Congressmen were under Social Security instead of having their own retirement system you would see that program straightened out fast. It is a shame that the elected officials basically are there for themselves instead of the little people that voted them into office. The back door deals that got Obamacare signed should have been a wakeup call to the general public. When President Johnson authorized draining money from Social Security to balance his budgets that started this country down a very slippery slope. Every president since has had access to those funds. Nobody bothered to figure out how they would ever pay the money back. With businesses moving overseas, bailouts for companies that went to the executives as bonuses for doing a poor job, and Social Security just about broke, it probably will not be too long before this country is in dire financial straits.
January 18 2012 at 8:55 PM Report abuse Permalink +3 rate up rate down ReplyJust think; the Native American is getting a good laugh out of the way the White man has f***ed this country. All of the comments are on target, just have to face the facts, that " the grab all you can when you can" mentality has done their job all in the name of "greed".
January 18 2012 at 8:35 PM Report abuse Permalink -1 rate up rate down Replywhile your mentioning names,don't forget Clinton ,who didn't even own a home when he started his reign and also Obama --------They both became multimillionaires in a much shorter period!
January 18 2012 at 7:51 PM Report abuse Permalink rate up rate down ReplyWow, how about bush and cheny? Just happen to forget those names right? How about the oil war going on now? How about bush owning munitions factories in ohio or having his hands in oil, or having his hands in enron? Did you know cheney was the vp of haliburton and only stepped down to be vp under bush. Funny thing how haliburton was the only company allowed to bid on the iraq job. You need to get your mind right. Republicans have always and will always be for the wealthy 1%ers.
January 18 2012 at 8:00 PM Report abuse Permalink +2 rate up rate down ReplyThis comment was supposed to be in answer to " Save America" below.
January 18 2012 at 8:07 PM Report abuse Permalink rate up rate down ReplyGiving a minute amount of tax break is not enough to entice companies to bring the jobs back home to america. Obama is an anti business president. To create jobs, we must lift the burdensome policies and regulations churned out by the thousands by the Obama administrations. One thing Obama know how to do well is doing nothing except campaigning. Three long year of empty promises. The stupid liberals who voted for him are still looking for change that they can believe in.
January 18 2012 at 7:25 PM Report abuse Permalink +2 rate up rate down ReplyO and tax breaks for wealthy business owners is going to create more jobs? Get real
January 18 2012 at 7:54 PM Report abuse Permalink +3 rate up rate down ReplyGet real ...thousands of Amrican jobs were gone overseas long before O bama came into office. A comment such as your is way off track and biased . You need to rethink ifyou think thousands of people lost jobs because the companies they worked for left US soil since 2009. The trend atarted in the 80 under no other than Mr Reagon. Hundreds of thousand of textiles workers lost their jobs to over seas investors and markets. We might be able to make a comeback in this country if people like you get a reality check. Please out of the thousands (you said thousands) of burdensome regulations and policies made by Obama ,will you post 50 of them or ten just so everyone can see exactly what you are talking about >>>L O L
January 18 2012 at 11:24 PM Report abuse Permalink +1 rate up rate down ReplyI think that you had better check your history, when Carter was in office there was some laws passed that allowed free trade. When that happened the companies in the us started looking at other countries to start businesses where they could make the products then send them back to the US to sell. We are all guilty of making these things happen by demanding larger wages from companies without any reguard for the companies, then there is the companies that stopped caring about their biggest assets "their people" then we really did a big no no when we all started buying what was cheapest not caring if it was made in the USA or not. So you see folks we have done all of this ourselves as well as electing people that do not govern for the good of the USA but line their pockets and support their own agendas.
January 19 2012 at 12:12 AM Report abuse Permalink rate up rate downI wish we had a least one hard working honest person in our government!!! It's time for a huge cut in government payroll.
Imagine if our congress and representatives only earned an average salary $40,000 - $50,000 a year. They would be outta there so fast. The average Joe could do something to fix alot of the corruption. Let's start with welfare fraud and all these lazy asses on disability who do not need it nor have earned it. O r the immigrants who take over communities and manage to get their legal children in the system. All of the out sourcing needs to stop!! Buy American people and put them out of business!!! Land of the free my ass, TAXES
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