GOOD-CHEER BLOG

That most wonderful time of the year

From our house to yours, enjoy the wonders of the human spirit throughout this string of holiday seasons that carry us into 2011. May your holiday spirit enjoy broad sprinklings of merriment, family, safe travels, and optimism for what lies ahead.

One-of-a-kind, On-line, Odd-ventures

double genache chocolate cheesecakeIn ongoing ventures as an E-preneur, I've gathered a marketplace for world-class goods that you can't find anywhere else. Please explore with me the worlds into which I've  wandered, studied long and hard the last 3 years, and discovered wonders -- gourmet specialty coffee roasting and blending; gourmet artisan chocolate; gourmet cheesecake; art prints, and artisan crafts by amazing family artists. MORE DETAILS

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Join in themes that support living in good cheer and overcoming anything the world throws at us. Favorite subjects: Family. Grandchildren. Dogs. Friendship. Excellent books. Incredible food. Cameras and photos. Espresso. Movies. Music. College sports. Baseball. Fountain pens. Cooking. Other stuff. Yours?

Talk back: info@beofgoodcheer.com. Tell us how you found Be of Good Cheer dotcom.

Thanks for dropping by. Come again, and bring a friend.


Tax Tips

[Source: Article on MSN.com, 2007, citing the IRS and tax consultants]

  1. First of all, if you're reading this now, better hurry and submit an extension by midnight. The referenced article appeared in early December.
  2. Claim the correct filing status, as of Dec. 31. You could lose credits and exemptions.
  3. Double-check for correct Social Security number - for every person included in the filing.
  4. Use correct forms and schedules. Avoid a po'd computer in the bureaucracy.
  5. Sign the return. Date the return. Unsigned = unfiled = uh-oh, not good, very bad.
  6. Claim only eligible dependents. Criteria are strict. This one isn't as simple as it sounds.
  7. Use or lose your earned-income credit. A mess to determine. Thanks, Congress.
  8. Keep receipts in a box, drawer, file, somewhere. Keep them for benefits of deductions, and keep them for proof in audits. Biz expenses, charity, health, taxes, mortgage, et al.
  9. Report the hired help. You owe payroll taxes for nannies, homecleaners, caregivers, et al.
  10. Report all income, every dime. W-2, 1099, cash payments, tips, gambling wins, prizes, interest, et al.
  11. Check on AMT - literally, Alternative Minimum Tax, but also infamous as Awfully Mean Tax. Only for you high-income folks who must tend to add-backs, flat rates, and different deductions because you wiped out too much liability the regular way. If your, or combined, income exceeds $100,000, look at the AMT.

Additional tip from Be of Good Cheer dotcom:

Speak to your financial advisor and tax consultant about purchasing or adding to an IRA before you file, giving you an additional deduction. With the allowable amount of money, either pay yourself down the road, or pay that money to the IRS now.

Now then, click here to get a running start on your 2008 tax strategies to file in 2009.