Have You Filed Your Tax Extension Yet?

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Have You Filed Your Tax Extension Yet?

The smell of fall is in the air, which means the smell of rising panic over the tax extension deadline is approaching! For those of you who had the foresight to miss the April 15th deadline, but fill out the extension form, your time is almost up!

And for those of us who work in the tax biz, it’s our time to contemplate the value of a tax extension. Me? I’m all for them. I think people shouldn’t be penalized for missing deadlines, nor do I think the government should be allowed to slam you with high interest fees the second your taxes are past due.

The thing that always fascinates me about extensions is how few people seem know… Read more…

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Rejoice! The Making Work Pay Credit Will Soon Be Gone

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Rejoice! The Making Work Pay Credit Will Soon Be Gone

It may have given a needed boost to the middle class last year, but the Making Work Pay credit also caused a lot of headaches. And since we’ve allegedly been out of this recession for a year, it’s about time we stopped giving handouts to taxpayers.

What’s more enjoyable is that, in any other year, there’d be a stink raised over this. But with midterm elections and everyone raising a bigger stink over the Bush Tax Credits, everyone is too busy protesting what’s happening to other people to realize what’s being taken away from them.

The lack of these tax credits and their fast injection of cash into the economy will probably hurt Obama and economists numbers next year, but… Read more…

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