Tax Guide 2011 – All you want to know about 2010 Federal & State Taxes

Tax guide for 2010 Federal and state taxes. You can find the latest news, list of deductions, answers to common questions and a lot more in these pages. If you are looking for an answer to some specific question andyou can’t find the information here, please drop me a line wealth[dot]informatics@gmail.com (replace [dot] with a . )or via my contact form, I will point you to the right article or write about it.

2010 Traditional and ROTH IRA contribution limits

As the tax season draws nearer, many people might be scrambling to see how they can lower their 2010 taxes. For most of the tax reduction techniques, they have to be implemented by the end of 2010, it is a little late now. The one way that still can work to reduce the taxes is [...]

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IRS will accept returns from February 14

IRS released a news release today saying that they will accept the federal returns from everyone on February 14. I have written about the income tax filing delay.  IRS needed some time to update their system to accommodate the recent 2011 tax changes. This income tax filing delay will only affect people who will be [...]

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IRS Standard Mileage Rate – Business, Medical and Charitable purposes

Standard Mileage Rate is one way of deducting the cost of using your own vehicle for business, charity or medical purposes. Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.  Here is the standard mileage rate for business, medical, and charitable use of [...]

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State Return Processing Following IRS Delays

The IRS will not accept the 2010 e-file returns or process paper returns from the taxpayers who are planning to take itemized deductions to deal with the 2011 tax changes. State tax agencies are in the process of deciding whether they will follow the IRS income tax filing delay. Here is where each state stands [...]

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2011 Income Tax rates

2011 Income tax rates have not changed much from the 2010 Income tax rates. The only difference is the income level for each income tax bracket has been adjusted a little. Most of the tax cuts and exemptions from 2010 have been extended to 2011 too. For more information on these 2011 exemptions and credits [...]

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2011 Tax Brackets (IRS Tax Rates)

The 2011 Tax brackets have now been finalized. The new 2011 tax brackets for all filing status is available below.

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Free e-file 2010 taxes (income <$58,000)

The Internal Revenue Service opened its 21st season of electronic filing today with a reminder to taxpayers that e-file remains the best way to get fast refunds and ensure accurate tax returns, particularly following several tax law changes in December. People with adjusted gross income of $58000 or less, can e-file for free. Here are [...]

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2011 Payroll Tax Holiday 2% Cut in Social Security Taxes

You might have seen a slight increase in your take home pay. Where did that come from? President Obama signed the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 on December 17th. This means almost all of the bush tax cuts were extended along with some new tax changes. One of the [...]

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2011 Energy tax credits

2011 Energy tax credits have been extended in the recent Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 but they are extended at a much lower level than the 2009/2010 energy efficiency tax credits. The levels revert back to the 2006-2007 period tax credits, which were 10% of the cost of the [...]

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