This year, you can benefit from doing your own taxes and save some money. The Internal Revenue Service announced it is extending the provision of the 2004 American Jobs Creation Bill through 2007. The Act gives individual taxpayers, who itemize deductions when they file their taxes, the ability to deduct their state and local sales tax or income tax. If you live in one of the states that do not have income tax, you can still deduct your state sales tax.
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During the holiday season many non-profit organizations make a fundraising push. They try to tap into the giving spirit most of us usually feel this time of year. A charitable donation does good things for your conscience, as well as your taxes, at the end of the year.
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The Internet changed the way we shop. We can purchase almost anything with the click of a mouse. All we need is a credit card. However, if you are not disciplined in your online holiday shopping, credit woes will await you in the new year.
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When most of us think about the holidays, we think of family time together, shopping, decorating and preparing for an out-of-town trip. While these are all holiday considerations, if you’re a college student, or if you’re the parent of a college student, it is also a great time of year to take control of your finances.
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