Posts Tagged ‘taxes’

My Latest Personal Finance Articles

Over at my personal financial advice blog FinanceGourmet, I’ve been busy writing about everything from 2011 tax deductions to credit reports to investing.

As people file their taxes, they look for tax minimization strategies. While there are various actions you can take throughout the year to lower your overall tax burden, once December 31st rolls around, the only option most people have for lowering their taxes is to contribute to an IRA account. Of course, there are limits on IRA contributions, so that only offers so much relief. Otherwise, the best you can do is find every possible tax deduction you can.

When it comes to your credit report, there isn’t much you can do to manage it other than to pay all of your bills on time and keep your credit card balances from getting too close to their limits. (Credit line utilization is one of the big components of a credit score.) However, you do have to constantly watch your credit reports to ensure that negative information is not lowering your credit score without your knowledge. One of the easiest ways to monitor your credit report for free is with Credit Karma. I wrote a nice review of Credit Karma on Finance Gourmet after first determining that Credit Karma is not a scam. You can see my latest update where I delve into Credit Karma’s free credit monitoring service.

Lastly, this week, the Dow Jones Industrial Average mananged to top 13,000 for the first time since 2008 when the housing bubble triggered the financial crisis and the stock market managed to drop all the way down to about 6,500 before bottoming out and recovering as economic indicators started to look better. But, what does Dow 13,000 mean? Is that nice, round number really worth anything, or is it just a lot of media hype?

Either way, it’s been a good time over on Check it out.



2011 Tax Information Articles

Lately, I’ve written up some useful 2011 tax info articles. These various publications have occurred both on my own personal finance website at as well as at other websites that I writer for either as a freelance financial writer or for fun.

First up are some personal finance articles regarding the new 2011 tax numbers released each year by the IRS. Some of these numbers change every year, like the 2011 mileage rate, that varies according to the average gasoline prices during the year. Others change according to either new tax laws, or specifications within the existing tax laws such as the Roth IRA income limits 2011.

Some tax numbers are linked to the rate of inflation, so they go up some years, and even down in other years. One number that many people are interested in now that 2010 taxes have been filed and they are looking forward to do advanced tax planning for 2011 is the standard deduction 2011.

Of course, good 2011 tax tricks and advice isn’t all just about what the new IRS tax numbers are for the year. There are plenty of important income tax deductions to look for. Saving receipts and buying the right things at the right time can go a long way toward lowering the taxes you pay each year.

Once you know all of that helpful tax advice you still have to actually do your taxes. I’ll be scheduling some upcoming tax articles an things like how to do your income taxes yourself and which tax software is the best for small business owners and other types of people. After all, we’re all in the same boat. The only two things in life that are certain are death and taxes.

What is not certain is how much we have to pay in taxes and the wiser and better informed taxpayer is the lowest income tax paying taxpayer.

Good luck in 2011 and beyond, everyone.