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Personal Finance Roundup: That’s Deductible!

By Money Crashers

It’s coming! Yes, Christmas, but more importantly, the end of the year, which is quickly followed by tax season! Hopefully, you are all on top of things and will get your tax documents wrapped up and processed early, but realistically, many of us will finish up somewhere around March or even the night before it’s due.

Remember that it takes time to get things together and there can be some unforeseen obstacles, so be prepared. With that said, for those of us that are employees at a company, it’s a good idea to wait to actually file your return until you are completely sure you have received all of your tax related documents from employers and government bodies.

In either case, the end of the year leaves room for last minute tax deductions, advice and savings! Check out this article by Kiplinger aptly titled, Last-Minute Tax Savings for 2010, where you can learn some smart ways to wrap up the year.

Other helpful articles to unwrap this week:

10 States to Relocate for Lower Taxes
If you want to get really crazy about saving money on taxes, check out this list with descriptions of the states with the lowest taxes. Would you move to keep a little bit more of your hard-earned money in your own pocket. [Frugal Dad]

Side Income: Is It a Hobby or a Business?
This is really important as the end of the year looms because depending on what your side income generator is classified as, your tax deductions change. [Money Under 30]

Your Take: Should Online Purchases Be Taxed?
One of the best ways to hide from local tax is to shop online, but is it right? There are benefits to both sides, so what do you think? [Bargaineering]

15 Year End Tax Deductions To Remember Unless You Want To Give The IRS a Tax Free Loan
While taxes are inevitably on the rise, there are dozens of ways to legally get tax breaks and come out ahead. Check these out for deductions in just about every category of life. [Saving to Invest]

The New-Baby Expenses No One Told You About
Babies – one of the cutest tax deductions around! But babies can be really expensive. These are some of those overlooked baby related expenses you should know about. [Learnvest Blog]

Things You Should Always Purchase Online
Taxable or not, I love shopping online! It’s so much easier, often times cheaper, and I am never in any kind of rush to warrant complaining about shipping times. It looks like I’m not alone in my love for online shopping. [Sustainable Life Blog]

Patience Is A Virtue, Learn It If You Can (but Please Hurry)
With online shopping, waiting for tax returns, and every other little thing we do in life, patience really comes in handy. Good things really do come to those who wait, really. [Len Penzo Dot Com]

What a Real Job Can Do For An Entrepreneur
There are two camps of people in the world; those that are enjoy working a “real” job, and those that want to work for themselves. But those lines do get blurred quite often, and for good reason. Both types of employment provide great benefits, and this piece claims one side can greatly help the other. [Studenomics]

Why Should Successful Corporate Employees Not Start a Side Business?
This piece argues that the lines between entrepreneurial ventures and employment should be more cut-and-dry in some situations. I think the choice all depends on the person; if you can handle the hours and are able to balance things well, why not? [Free Money Finance]

Do You Need Home Office Insurance?
Whether you work completely out of your home or simply moonlight when you can, your home office could be at risk. Did you know you can insure it? [PT Money]

(photo credit: alancleaver_2000)

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Comments

  • Martin Dasko

    Thanks for the mention here!

    • Andrew (Admin)

      No prob Martin!

  • http://lenpenzo.com Len Penzo

    Great roundup! Thanks for including me in it.

    • Andrew (Admin)

      You got it Len!

  • http://www.moneyunder30.com David

    Thanks for the mention; always appreciated!

    • Andrew (Admin)

      Keep up the great work over there!

  • http://www.sustainablelifeblog.com Jeff @ Sustainable Life Blog

    Thanks for the link Andrew!

    • Andrew (Admin)

      You’re welcome Jeff!

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