Tax Scams: The IRS says don't fall for these...

We've all heard of Wesley's Snipes tax woes as of late, right?

And we don't want to go thru what he did, capiche?

So read the IRS's recent top 12 tax scams listed here.

Should Active-Duty Soldiers Pay State Taxes?

That's the question asked in this piece about lawmakers who want to stop state taxes from being paid by active-duty soldiers.

It's an interesting question.

What do you think?

Should active-duty soldiers be forced to pay state taxes?

April 15 Tax Deadline Now April 17, 2007

Just learned this important bit of Tax Information Regarding 2006 Taxes:


Filing Deadline - Taxpayers Have Until April 17 to File and Pay


The Internal Revenue Service announced that the filing date for 2006 tax returns is Tuesday, April 17, 2007.

This is because April 15 falls on a Sunday in 2007, and the following day, Monday, April 16, is Emancipation Day, a legal holiday in the District of Columbia.

According to irs.gov - the IRS official site, the April 17, 2007 deadline applies to the following filings:

2006 federal individual income tax returns, whether filed electronically or on paper.
Requests for an automatic six-month tax-filing extension, whether submitted electronically or on Form 4868.

Tax year 2006 balance due payments, whether made electronically (direct debit or credit card) or by check.

Tax-year 2006 contributions to a Roth or traditional IRA.
Individual estimated tax payments for the first quarter of 2007, whether made electronically or by check.

Individual refund...

Read more...

Free Tax Withholding Calculator

Fretting that you owe such a large amount in taxes?

Salivating about that big fat refund due you?

Try the IRS' free tax calculator online.

It'll help you figure out how much you should have withheld from your checks in 2007, so you won't over- or under-pay next tax filing season.

The free tax calculator should provide some solace.

Or heartache.

Ten Legit Ways to Make Money Blogging

Get paid to blog!

Make Money Blogging!

Paid blogging!

Billion dollar blogger!

The ads may scream with pay-to-blog scams, but here are ten real ways to make money blogging:

1 - Associated Content - Okay, so AC isn't a blogging site, but AC has been "berry, berry" good to me since I joined them August 16, 2006. Rates vary, some moaners fill the forums with complaints about $3 offers, but other content producers get to work, hustle and earn $235 a week. Though that isn't the norm for most CPs, I love Associated Content. They've been a complete blessing, and I refuse to bite the hand that feeds me and my kids Burger King.

2 - Amazon Associates - This has been a great moneymaker, especially during this Christmas season. Amazon doesn't want bloggers blabbing about specific numbers, so I'll be coy. But sign up, put cute pics of the sweet laptop you want to buy your hubby for Christmas that you promise the kids nor you will touch, (I finally figured out what he wanted after commenters said I must not know my husband when they read this post) along with banners and those great Amazon search boxes all over your blog and voila!

People click and buy and search and buy and buy and buy and buy (we Americans love to buy, heh?) and Amazon affiliates like me (and soon, you?) get anywhere from 4% - 8.5% based upon the terms set forth here.

Catch Beyonce on Oprah talking about how she lost weight, blog about a product that you yourself will probably buy (once that quarter-end Amazon money and monthly Google Adsense money kicks in) and before you know it, you've got moola!

3 - ReviewMe - Check out my post about ReviewMe.com to see how I got on. So far I've gotten paid for two great offers, but none have come in the past month or so, I'd say.

4 - CREAMaid - The first post I wrote for CREAMaid titled "I'm loving it too much..." paid 10 easy bucks and the second called "This is me and my energy..." paid 6 bucks (and so far 2 bucks in referral fees) but the thing I love most about CREAMaid is that they put the money in your PayPal account within 24 hours after they accept your post and you confirm the payment email they send.

5 - Blogsvertise - They've been cool and fairly consistent with the offers. Plus, they let me write how I want to and allow me stretch my creative advertising-copywriting muscles with posts like "I though the brotha was trying to hit on me..." and "I'm on the hunt for a new cell phone..." and such. So far I've racked up 30 bucks with them, payable one month after the posts were accepted. Plus, dealing with Cheryl there has been very pleasant. I like pleasant people...

6 - Google Adsense - Can't talk about what my earnings are up to, but my Google Adsense for Content (not making much off Google Referral Products yet -- need to display those banners better -- and can't use Google Adsense for Search on Blogger Beta, I hear -- I tried and tried and tried) is slowly and steadily building as my pageviews increase. Once a person hits 100 bucks, they'll get paid in the ensuing month.

7 - Blogitive - Good thing I checked my account on Blogitive today...I had 3 offers waiting to be accepted. I'd grown tired of checking them every day about one week after I signed up, so I forgot about them. Then lo and behold, 3 offers! Now, if I could just get my logon to work so I can go post them and get paid and tell y'all if they're really legit... I believe they are.


8 - Pay Per Post - Yes, they rejected my blog back when I wasn't a daily blogger, but I plan to apply again soon. Those top earners are making close to 4,000 bucks! I won't stop till you bless my blog's soul, too, PayPerPost editors!!!!!

9 - Orble - Duh! I finally figured out today where to put my Google Adsense ID on Orble, many days after I'd gotten lots of hits for Orble posts like this, but at least it's there now to start racking up the pennies.

10 - PayPal Cash Back Bonus Program - Check out PayPal's cash back program, as well as their referral program for merchants. It's so cool to see that little green dollar sign and unexpected dollars (or mostly cents) increasing my PayPal account balance, which is currently earning 5.03% -- that is, on the money that I don't immediately withdraw from the ATM using my PayPal debit card, or use to buy dog food and eggs at Giant Eagle.



So, those are all my get-paid-while-blogging tips. Bookmark me at http://www.paulamooney.blogspot.com/ for more money-making tips, and share the wealth -- leave some of your blogging-for-bucks tips in the comments section.

Tags: paid ,blog ,blogger ,pay ,sponsored ,blogsvertise ,payperpost ,creamaid ,google ,adsense ,
for ,a ,search ,referral ,orble ,associated ,content ,blogitive ,amazon ,associates ,affiliate ,money

Higher Deductions for Small Business Owners

by Paula Neal Mooney

Do you work from home?

Own a small business?

Don't know what the heck to do with your taxes?

Well, I was in Barnes & Noble yesterday flipping thru a book called "Tax Smarts for Small Business, 2E: Maximize Your Deductions Using the Latest Changes to the Tax Laws" (Tax Smarts for Small Business) that looks helpful.

I like that it's brand new, 2007 copyright date.

Important, since complicated tax laws are always changing.

The expert who wrote it said that he always has to give his clients a mini-course in taxes to answer their questions.

Hence, the book:


Check it out. It might help.

Making Less Than 52k a Year? File Your Taxes Free!

Think you have to buy a tax program or always pay someone to file your taxes?

Not necessarily so.

Read here on how to log onto the IRS website and file your taxes for free if you meet their conditions.

Get a Tax Phone Credit

Many tax payers can receive a tax phone credit of around $30 to $60 -- says the New York Times.

If they're willing to dig out their old phone bills to figure out how to get the easy credit.

Line 71 of Form 1040, Line 42 on the 1040A or Line 9 on the 1040-EZ is the spot you need to focus on.

“Credit for federal telephone excise tax paid. Attach Form 8913 if required,” reads the description.

Figuring out how to get the tax phone credit might be worth it to get around 50 bucks in back in your hands.

Secret Tax Deductions You Don't Know About

It might be a tax deduction not reported on a form that slips your eagle eyes.

Or, it may be a tax deduction you didn't realize applied to you.

Either way, this Kiplinger list of The 13 Most Overlooked Tax Deductions might save you big bucks this tax filing season.

Telephone Excise Tax Refund for Business Owners

The Telephone Excise Tax Refund and other changes affecting 2006 federal tax returns should be top-of-mind for businesses this time of year.

Here is some important information about the new refund, extended tax credits, and other important changes you need to be aware of this filing season:

Q. How do I know if my business qualifies for the Telephone Excise Tax Refund?

A. Your business qualifies for the Telephone Excise Tax Refund – a new, one-time refund that can be claimed for 2006 – if the company paid telephone excise taxes on long distance and bundled telephone services after February 28, 2003 and before August 1, 2006. Traditional land lines, cell phones and Internet packages for this time period can also qualify for the refund.

Q. My company paid telephone excise taxes during the time period that qualifies for the refund, but we don’t have all of our old phone bills. What are our options?

A. Businesses claiming the Telephone Excise Tax Refund have two options for computing the amount of the refund: determining the actual taxes paid for the period in question (which would require access to those old phone bills) or using a specific formula to calculate the refund amount.

To use the formula method, you will need phone bills from April and September of 2006, plus an accurate phone service expense figure for the entire time period qualifying for the refund. Caps may apply to this formula, based on the number of employees.

It is also important to note that sole proprietors, such as Schedules C, E, and F filers, with gross receipts under $25,000 cannot use the formula; they can, however, request the standard, exemption-based amount allowed by the IRS, which covers both personal and business phone expenses.

Q. My business is tax exempt, and we are not required to file a federal tax return. How can we still claim the Telephone Excise Tax Refund?

A. Use Form 990T, which will require a minimum amount of information in your case, to request your Telephone Excise Tax Refund.

Q. Have any of the expired 2005 business credits been extended into 2006?

A. Yes. Recent tax legislation has extended expired 2005 legislation through 2006, including the Research Credit, the Work Opportunity Credit, and the Welfare to Work Credit. For the Research Credit, be aware that the IRS has implemented changes in how 2006 research credits are reported, and on which forms.

Q. Are there any payroll issues our business should be aware of as we prepare our 2006 returns?

A. Yes. The new Form 940 includes changes affecting individuals not covered by state unemployment, provides new check boxes, and has been reduced to one page. Because the 940 is a scannable form, pay close attention to the instructions provided with the form.

Also, small businesses with an employment tax liability of $1,000 or less for the year can use the new Form 944 to report those taxes annually instead of quarterly – but you may use this form only if you have received notification from the IRS that you qualify. Otherwise, stick with the Form 941.

Just Use Turbo Tax!

by Paula Neal Mooney

Today I was scouring the IRS.gov website and trying to come up with an impressive tax tip to put here, but I realized that many folks might benefit from what my husband and I do: just use Turbo Tax!

It lets us know about deductions we didn't know about before and checks for errors in our tax returns:



(Please note that this is not an edict given by a tax professional. Please consult your own tax attorney for more information.)

Three Deductions You Can Still Take

Yes, you can still take these three tax deductions

A last minute tax law signed in late December revived three deductions that can help reduce taxes on your 2006 return.

1- Tuition and fees.
This above-the-line break is available if you paid educational expenses such as tuition, books, and activity fees to a college or vocational school in 2006 for yourself, your spouse, or a dependent. You don’t have to itemize to claim the deduction, and you can include amounts paid with money you borrowed. The deduction limit is $4,000 or $2,000, depending on your income.

2 - Educator expenses.
Did you buy classroom supplies for your kindergarten through twelfth grade students during 2006? You can reduce your income even without itemizing by deducting up to $250 of these unreimbursed costs. Supplies include books, computers, and supplementary materials. As in prior years, be sure to keep your receipts.

3- Sales taxes.
You can choose to deduct actual state and local sales taxes paid during 2006 as calculated from your records, or a standard figure provided by the IRS. Sales taxes you paid on big-ticket purchases, such as vehicles, can be added to the standard amount. To benefit, you have to itemize and forego the state and local income tax deduction.

Additional rules may apply to your situation.

Should You File a Tax Return? Who Must File...

by A.L. Dobbins

"Down right rotten! Low down deal! I've been had! Why me?"

All kind of bad things can happen if you believe some people's hype and do not file your income taxes. Like a couple who came to me a few years ago. They were in the process of closing a real estate deal, selling their house in a Chicago suburb and buying a house in a more desirable suburb, with better schools, better shopping and other benefits.

One of the real estate agents came up with some bad news for the duo, however: the IRS had an outstanding lien on their old home in the amount of $30,000. The deal was off.

Two very disappointed people went back to their old home. What is so sad about this case is that they did not owe IRS any taxes and were due a refund for most of the five (5) years they had not filed. The IRS did not know of their tax liability and their policy is to place a lien on all of your property if you have not filed for several years. Also you are subject to lose your refund if your refund is more than 3 years past due.

Should You File a Tax Return?
IRS TAX TIP 2007-02
You must file a tax return if your income is above a certain level. The amount varies depending on filing status, age and the type of income you receive.

For example, a married couple under age 65 generally is not required to file until their joint income reaches $16,900. However self-employed individuals generally must file a tax return if their net income from self employment exceeds $400.

Check the “individuals” section of the IRS Web site at IRS.gov or consult the instructions for form 1040, 1040A or 1040EZ for specific details that may affect your need to file a tax return with IRS this year.

Even if you do not have to file, you should file to get money back if Federal Income Tax was withheld from your pay, or you qualify for any of the following:

• Earned Income Tax Credit.
The Earned Income Tax Credit is a federal income tax credit for eligible low-income workers. The credit reduces the amount of tax an individual owes, and may be returned in the form of a refund.

• Telephone Tax Refund.
The telephone tax refund is a one-time payment available on your 2006 federal income tax return, designed to refund previously collected long-distance federal excise taxes. It is available to anyone who paid long-distance taxes on landline, cell phone or Voice over Internet Protocol (VoIP) service.

• Additional Child Tax Credit.
This credit may be available to you if you have three or more qualifying children or if you have one or two qualifying children and earned income that exceeds $11,300. The Additional Child Tax Credit may give you a refund even if you do not owe any tax.

• Health Coverage Tax Credit.
Limited to certain individuals who are receiving certain Trade Adjustment Assistance, Alternative Trade Adjustment Assistance, or pension benefit payments from the Pension Benefit Guaranty Corporation.

For more information about filing requirements and your eligibility to receive tax credits, visit the IRS Web site at IRS.gov.

Links:Forms and Publications Earned Income Tax Credit Telephone Tax RefundSubscribe