The countdown has officially started, 97 days until all the local newstations trek down to the local post office to document the influx of last minute taxpayers getting their filings in at the latest acceptable moment. For those of us that chose this as a profession this is Tax Season, the time of year where our entire world consists of 1040's, 1120's, W-2's, 1099's and the like. With that said, the beginning of tax season always brings with it a host of articles to help the underinformed to take advantage of the multitude of credits, adjustments, and deductions that are available to those who qualify. The following is a selection of a few such articles that may be of assistance to those of you looking to avoid the last minute rush to the post office:
This article was designed to be read before year-end, but still may be helpful for those of you who may qualify for the listed tax breaks:
http://online.wsj.com/article/SB10001424052748704795604574519852193088202.html?mod=article-outset-box
This article is particularly helpful for the newly self-employed:
http://www.businessweek.com/magazine/content/10_03/b4163065985047.htm
Another basic overview, but this one comes with a printable card of commonly used deductions and the income limits in effect for the 2009 tax year:
http://www.journalofaccountancy.com/Issues/2010/Jan/20091930.htm#
And last but not least, some moves that can be made in January to help in the preparation of this years (or possibly next year's) taxes:
http://www.marketwatch.com/story/tax-moves-to-make-in-january-2010-01-08?pagenumber=1
Hopefully these are of some assistance. If you find yourself in over your head or have questions please do not hesitate to contact me. Happy Tax Season!
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