Comments on: Reduce Your Taxes Forever http://moneyning.com/tax/reduce-your-taxes-forever/ A personal finance blog where we share insights on carefully saving money, investing, early retirement, mortgages, stocks because the little things matter in achieving financial freedom! Sat, 21 Nov 2009 02:16:11 -0800 http://wordpress.org/?v=2.8.6 hourly 1 By: MoneyNing http://moneyning.com/tax/reduce-your-taxes-forever/comment-page-1/#comment-2222 MoneyNing Fri, 12 Oct 2007 21:18:49 +0000 http://moneyning.com/tax/reduce-your-taxes-forever/#comment-2222 Carl: Last year I had too many trades (probably not a good thing) but this year should be better so I will think about doing it myself. Thanks for letting me know about the "either or" thing about state and sales taxes though. I seem to learn something new everyday :) Lise: Yup good choice! I'm glad that you were able to save money by investing some of your time and money. Carl: Last year I had too many trades (probably not a good thing) but this year should be better so I will think about doing it myself. Thanks for letting me know about the “either or” thing about state and sales taxes though. I seem to learn something new everyday :)

Lise: Yup good choice! I’m glad that you were able to save money by investing some of your time and money.

]]> By: Lise http://moneyning.com/tax/reduce-your-taxes-forever/comment-page-1/#comment-2219 Lise Fri, 12 Oct 2007 18:50:08 +0000 http://moneyning.com/tax/reduce-your-taxes-forever/#comment-2219 <em>which also helps promote their product since their teaching philosophies are for sure embedded into their tax software! What a great idea!</em> Actually, it's not. We learned to do everything out by hand--I just use TaxCut today because I got a copy of it free in Money Magazine. I'll agree that their offering the course is somewhat mercenary, in that its main purpose is to get more employees in there, but it's a lot cheaper to take their course once then to take your taxes to them everywhere. which also helps promote their product since their teaching philosophies are for sure embedded into their tax software! What a great idea!

Actually, it’s not. We learned to do everything out by hand–I just use TaxCut today because I got a copy of it free in Money Magazine. I’ll agree that their offering the course is somewhat mercenary, in that its main purpose is to get more employees in there, but it’s a lot cheaper to take their course once then to take your taxes to them everywhere.

]]> By: Carl http://moneyning.com/tax/reduce-your-taxes-forever/comment-page-1/#comment-2217 Carl Fri, 12 Oct 2007 18:34:07 +0000 http://moneyning.com/tax/reduce-your-taxes-forever/#comment-2217 MoneyNing, If you itemize your deductions you can choose to deduct your state taxes OR your sales taxes, not both. I think they do this for the few states without state tax, since in California the state tax is high. One thing to remember is that you have to declare whatever refund you get from your state taxes in your federal income for the next year, since you didn't pay tax on that money yet. I still do my own taxes by hand (and I'm a homeowner). It saves me the money of buying a software or a tax accountant... and is not really all that hard, unless you do a lot of trades in your investments. MoneyNing,

If you itemize your deductions you can choose to deduct your state taxes OR your sales taxes, not both. I think they do this for the few states without state tax, since in California the state tax is high.

One thing to remember is that you have to declare whatever refund you get from your state taxes in your federal income for the next year, since you didn’t pay tax on that money yet.

I still do my own taxes by hand (and I’m a homeowner). It saves me the money of buying a software or a tax accountant… and is not really all that hard, unless you do a lot of trades in your investments.

]]> By: MoneyNing http://moneyning.com/tax/reduce-your-taxes-forever/comment-page-1/#comment-2214 MoneyNing Fri, 12 Oct 2007 16:04:21 +0000 http://moneyning.com/tax/reduce-your-taxes-forever/#comment-2214 Patrick: Not to mention that the time it saved you. Lise: H&R's tactic is amazing. They charge you for learning something to do their job which also helps promote their product since their teaching philosophies are for sure embedded into their tax software! What a great idea! USA: It's extremely hard to keep up. At least the software does most of the work for us now. I can't imagine the old days where everyone has to fill out everything by hand. Patrick: Not to mention that the time it saved you.

Lise: H&R’s tactic is amazing. They charge you for learning something to do their job which also helps promote their product since their teaching philosophies are for sure embedded into their tax software! What a great idea!

USA: It’s extremely hard to keep up. At least the software does most of the work for us now. I can’t imagine the old days where everyone has to fill out everything by hand.

]]> By: USA payday loans http://moneyning.com/tax/reduce-your-taxes-forever/comment-page-1/#comment-2208 USA payday loans Fri, 12 Oct 2007 10:11:36 +0000 http://moneyning.com/tax/reduce-your-taxes-forever/#comment-2208 Tax rules and regulations are changing day by day, one should know about these things carefully. And it is good to look after the things, you wrote in the article. Thank you for sharing. Tax rules and regulations are changing day by day, one should know about these things carefully. And it is good to look after the things, you wrote in the article. Thank you for sharing.

]]> By: Lise http://moneyning.com/tax/reduce-your-taxes-forever/comment-page-1/#comment-2204 Lise Fri, 12 Oct 2007 00:40:34 +0000 http://moneyning.com/tax/reduce-your-taxes-forever/#comment-2204 I paid $250 to take H&R Block's tax course. At the time I did it because you can transition easily from that to a job at H&R Block (I was unemployed then), but it was some of the best money I ever spent. It goes pretty deep into detail (amortization, business assets, etc, etc) but it's enough for me to file my own taxes every year and feel pretty comfortable with it. (I also use their software, TaxCut). I paid $250 to take H&R Block’s tax course. At the time I did it because you can transition easily from that to a job at H&R Block (I was unemployed then), but it was some of the best money I ever spent. It goes pretty deep into detail (amortization, business assets, etc, etc) but it’s enough for me to file my own taxes every year and feel pretty comfortable with it. (I also use their software, TaxCut).

]]> By: Patrick http://moneyning.com/tax/reduce-your-taxes-forever/comment-page-1/#comment-2203 Patrick Thu, 11 Oct 2007 23:33:38 +0000 http://moneyning.com/tax/reduce-your-taxes-forever/#comment-2203 The tax laws are constantly being updated. I keep my eyes and ears open by reading the business section, blogs, etc. In the end, I pay a few dollars for turbotax. The investment is worth it in time saved and deductions found and used. The tax laws are constantly being updated. I keep my eyes and ears open by reading the business section, blogs, etc. In the end, I pay a few dollars for turbotax. The investment is worth it in time saved and deductions found and used.

]]> By: MoneyNing http://moneyning.com/tax/reduce-your-taxes-forever/comment-page-1/#comment-2202 MoneyNing Thu, 11 Oct 2007 23:22:35 +0000 http://moneyning.com/tax/reduce-your-taxes-forever/#comment-2202 Emily: Maybe your friend can do your taxes for you too since you might not know what to ask her! Emily: Maybe your friend can do your taxes for you too since you might not know what to ask her!

]]> By: Emily http://moneyning.com/tax/reduce-your-taxes-forever/comment-page-1/#comment-2201 Emily Thu, 11 Oct 2007 23:02:40 +0000 http://moneyning.com/tax/reduce-your-taxes-forever/#comment-2201 Hi Moneyning, I know a friend from work that constantly attend the Tax courses from time to time! I actually don't need to attend the classes. All I do is call her to get the updates! : ) Hi Moneyning, I know a friend from work that constantly attend the Tax courses from time to time! I actually don’t need to attend the classes. All I do is call her to get the updates! : )

]]> By: MoneyNing http://moneyning.com/tax/reduce-your-taxes-forever/comment-page-1/#comment-2198 MoneyNing Thu, 11 Oct 2007 17:08:05 +0000 http://moneyning.com/tax/reduce-your-taxes-forever/#comment-2198 D: I see. I don't have a house yet but I also heard you can actually deduct your sales tax too. Maybe I should save my receipts from now on. D: I see. I don’t have a house yet but I also heard you can actually deduct your sales tax too. Maybe I should save my receipts from now on.

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