Category: Tax Focus

Five ideas for saving time and money as you prepare taxes
Five ideas for saving time and money as you prepare taxes

Five ideas for saving time and money as you prepare taxes

The typical taxpayer is expected to spend more than three business days and more than $200 completing his or her tax return. As people get ready to file their 2009 tax returns, there are a few things they can do to save time and money. 1. Make sure you?re prepared. Having a few key items available when you start your […]

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Tax changes that could work in your favor in 2009
Tax changes that could work in your favor in 2009

Tax changes that could work in your favor in 2009

TaxesPayTheBill2.jpg Taxpayers might reduce their contribution to the IRS if they are aware and exercise some of the changes in the tax law that are in force for 2009. To help Marion County taxpayers navigate through key federal income-tax changes for 2009, financial and tax businesses in Marion and Hillsboro were asked to offer their expertise. Representatives from Waddell and […]

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Some help with the ?What ifs?

The IRS recognizes that many people are going through difficult times financially. Often, there is a tax impact to events such as job loss, debt forgiveness or dipping into a retirement account, said Michael T. Devine, Kansas-Missouri IRS representative. ?If your income has decreased, you may even be eligible for certain tax credits, such as the Earned Income Tax Credit, […]

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A potpourri of information for the curious taxpayer
A potpourri of information for the curious taxpayer

A potpourri of information for the curious taxpayer

TaxesPayTheBill2.jpg Last year in Marion County 717 individuals and families received more than $1.2 million, or an average of $1,752 from the Earned Income Tax Credit, said Internal Revenue Services spokesman Michael Devine. "This year, the EITC can put an extra $400 to $4,800 into the pockets of low income working individuals and families," Devine said. In addition, if people […]

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Tax refund can address fix-up projects at home
Tax refund can address fix-up projects at home

Tax refund can address fix-up projects at home

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Imagine using your tax refund to remodel the kitchen.

After a long, economically challenged year, many homeowners can look forward to one bright spot on the New Year horizon: the expectation of a tax refund to help fund much-needed home fix-ups.

It?s hard not to want a fashionable, newly remodeled home, especially if your cabinets are cluttered and crumbling from years of use, and the bathroom is so out of date you?re embarrassed to have company visit.

Now is a good time to do a little advance planning for remodeling to ensure every hard-earned dollar is used wisely.

One way to stay on budget is to take the advice of the National Kitchen and Bath Association and prepare a top-10 list of must-have items.

Look around your kitchen and bathroom and decide what needs to be replaced and what can be added later. If you can?t afford an entire kitchen remodel right now, perhaps you can update a kitchen island in a contrasting cabinet style, add a bathroom storage cabinet, put in new countertops or refresh paint and flooring.

Make every inch count

To get all you can out of your budget, squeeze as much as possible out of your space. Many cabinetry designs offer built-in storage and organization features?even in spaces just a few inches wide.

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Know how you’ll pay your tax bill? Three ways to find cash
Know how you’ll pay your tax bill? Three ways to find cash

Know how you’ll pay your tax bill? Three ways to find cash

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From brown-bagging your lunch to foregoing movie night, we have many opportunities to find savings.

Even though New Year?s Day is just behind us, April 15 isn?t that far away, and many Americans may be facing the unpleasant reality that their paycheck withholdings won?t be enough to cover their taxes and they?ll need to dip into their savings to cover the bill.

?Having to use your savings to pay an unexpected tax bill can be upsetting, but it doesn?t need to spell financial disaster,? says Steve Krenzer from LowerMyBills.com. ?Many Americans may find that with just a few simple steps they can start saving money and get their bank accounts back on the road to recovery.?

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KSU specialist offers tax tips ahead of April 15 deadline

The April 15 deadline for filing federal and state income taxes is months away. Even so, taxpayers who gather and organize their tax information early can be better able to take advantage of tax credits and free income tax services, a Kansas State University specialist said. If due a refund, filing early also can speed that refund, said Carol Young, […]

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You can reduce the chances of identity theft this tax season

Each year, more Americans choose to file their taxes online due to convenience, faster turn around on refunds and more accurate returns.

In fact, the Internal Revenue Service reported that more than 86 million taxpayers filed taxes online during the 2008 tax-filing season, a 12 percent increase from the previous year.

While e-filing continues to grow in popularity and hard copy returns become a thing of the past, Americans still send and receive a large quantity of confidential information on paper documents. W-2 forms, old pay stubs and investment information?all can leave you vulnerable to identity theft.

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Marion County residents can receive free income tax help

Taxpayers who meet income guidelines can get their taxes completed and e-filed for free with Mid-Kansas Community Action Program of Marion County.

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Congressional delay on AMT could delay your tax refund

Less than two weeks ago, Congress had yet to pass a ?patch? that would allow millions of taxpayers to avoid filing an Alternative Minimum Tax in addition to their regular tax forms.

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