Category Archives: Taxes

Saving In A 401(k) May Be “Cheaper” Than You Think

Posted on April 10, 2012 by

If you have a 401(k) at work,* you could be able to save money in your 401(k) while only reducing your paycheck by a fraction of your savings.  Most people mistakenly think that, if they have money taken out of … Continue reading →

Posted in Income, Investments, Taxes | Tagged , ,

Watch Donald Duck File His 1941 and 1943 Tax Returns

Posted on March 29, 2012 by

With the help of an anthropomorphic fountain pen, ink well, and (I kid you not) blotter, you can watch Donald Duck file his 1941 income tax, and more interestingly, find out why he is paying his income taxes.  Spoiler alert: … Continue reading →

Posted in Intermission, Taxes | Tagged , ,

Anatomy Of A 1040 – Part 2

Posted on January 13, 2012 by

“Where there is an income tax, the just man will pay more and the unjust less on the same amount of income.” — Plato Our guided tour of the Form 1040 is going pretty well.  We looked at the first … Continue reading →

Posted in Documents, Taxes | Tagged , ,

Anatomy Of A 1040 – Part 1

Posted on January 12, 2012 by

“The hardest thing in the world to understand is the income tax.” — Albert Einstein, physicist So, let’s make it a little easier. One of the (many) complaints I hear about taxes is that they are too complicated.  In fact, … Continue reading →

Posted in Documents, Taxes | Tagged , ,

Tax Organizers Are On Their Way!

Posted on January 9, 2012 by

Yay, it’s tax season again!  And that means the good folks at the post office are now whisking organizers to our tax client’s doors.  So, here are three easy tips for folks getting their tax documents together: Make sure you … Continue reading →

Posted in Documents, Taxes | Tagged , ,

And what about the 53%?

Posted on October 18, 2011 by

Dear people posting on the 53%: I don’t think all of you really are in the 53%. So, I wrote a little post about the 99% stories on tumblr the other week, but what about the 53%?  You know, the … Continue reading →

Posted in Current Events, Taxes | Tagged , , , ,

Why 401(k) Loans Should Give You The Heebie-Jeebies

Posted on October 4, 2011 by

Question:  Would you take out a loan that, if you lost your job, would have to be paid back right away or you would be charged about 40% “interest”?*  No?  Then don’t take out a 401(k) loan. “Wait a second,” … Continue reading →

Posted in Credit, Financial Planning, Investments, Taxes | Tagged , ,

Happy Sales Tax Holiday, Arkansas!

Posted on August 5, 2011 by

Look at this! Arkansas will hold its first annual sales tax holiday, beginning Saturday, August 6, 2011 at 12:01 a.m. and ending the Sunday, August 7, 2011 at 11:59 p.m. State and local sales tax will not be collected during … Continue reading →

Posted in Spending, Taxes | Tagged ,

Avoiding The Left Field With Taxes

Posted on June 3, 2011 by

Have you ever had a conversation with someone who suddenly went off to left field?  You get yourself introduced, make some small talk, and then – POW!  They say something completely crazy.* After my post on The Line Between Tax … Continue reading →

Posted in Taxes

Here’s Your Tax Receipt

Posted on April 20, 2011 by

 Well, tax season’s getting all wrapped up.  Now that you’ve taken care of your tax return and paid the tax due or gotten your refund, let’s take a moment to see where our money went at whitehouse.gov’s tax receipt calculator. I … Continue reading →

Posted in Taxes

One Decision That Can Cost Ten Thousand Dollars

Posted on March 18, 2011 by

Have you ever thought to yourself, “I’d like to owe the IRS ten thousand dollars?”  Find out how! Let me share a conversation I had a few years ago with you.  Names and identifying details have been changed to protect me … Continue reading →

Posted in Investments, Taxes

The Line Between Tax Advoidance and Tax Evasion…

Posted on February 21, 2011 by

is made out of chain link and topped with razor wire.  How do you make sure you’re on the non-orange jumpsuit side of the fence? Tax avoidance is an action taken to lessen tax liability and maximize after-tax income.  This … Continue reading →

Posted in Taxes

Tax Refunds from Chain Tax Preparers

Posted on February 18, 2011 by

So, let’s say you get your taxes done at one of the many tax preparation stores: how should you take your refund?  There are usually a few options*: Pay tax preparers directly, receive your refund when it comes:  This is … Continue reading →

Posted in Credit, Taxes

Tax Credit: the Saver’s Credit

Posted on February 15, 2011 by

Did you know that you can get a tax credit for putting money away for your retirement?  You need to meet some requirements first, though (for 2010). Income limits: Single, Married and Filing Separately, and Qualified Widow(er): $27,750, Head of … Continue reading →

Posted in Taxes

IRS Free File

Posted on February 7, 2011 by

It that time of year, you’ve (hopefully) received all of your tax documents and are getting geared up to file your return.  But, how to file?  Why not use the IRS’s Free File?  If you have a 2010 AGI* of … Continue reading →

Posted in Taxes