Tuesday, January 21, 2014
WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’ - TUESDAY EDITION
I saw a great headline at Yahoo Celebrity – “Is This the Beginning of the End for the Kardashians?” My fingers are crossed!
* Over at the MainStreet.com TAX CENTER I identify “What to Give Your Tax Professional”.
* Kay Bell explains “Filing Patience Can Prevent a Big Tax Mistake” at DON’T MESS WITH TAXES.
Her “tweet” promoting the post says it all – “Don't make the stupid tax mistake of getting refund related financial product.”
* Did you know “You Can Now Download Your Tax Return Transcript from the IRS”?
You do now – thanks to TECH CRUNCH.
* Duh! “Who’s to Blame for Tax Code Complexity?” The idiots in Congress, of course.
Professor Jim Maule reminds us of this fact at MAULED AGAIN, and offers some good suggestions for a Congresscritter who recently complained about the complexity of the Code (highlight is mine) -
“First, repeal the complex provisions that exist because special interest groups purchased the enactment of those complex provisions. Second, repeal the complexity that arises from using the income tax law for social policy purposes. Third, restructure, rewrite, and simplify what remains. Most of all, join with the other members of Congress in standing up and taking responsibility for what Congress has created.”
* Ashlea Ebeling of FORBES.COM gives some advice on “Maximizing 529 College Savings Plan Tax Breaks”.
She suggests you make your 2014 contribution early in the year –
“Almost a third of contributions to 529 college savings plans are made in the fourth quarter, but there are good reasons to contribute in the beginning of the New Year. The earlier you get the money in, the longer it has to grow tax-free.”
I recommended the same thing in “Tax Tip -Your Small Assignment for Today” at MAINSTREET.COM.
Another reason to make the contribution early –
“Also, some states will let you take a 2013 state tax deduction for contributions made up until April 15, 2014.”