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Nuts & Bolts

November 29, 2012

5 ways to prepare for the upcoming tax season

Take steps now to make tax filing a little easier in January

(Continued)

Significant season

“The coming tax filing season is shaping up to be like no other in recent years,” said Mark Steber, chief tax officer, Jackson Hewitt Tax Service Inc. “The combination of expiring tax laws and tax policy changes, possible renewed retroactive provisions and last-minute legislative action calls for taxpayers to be extra careful when managing their taxes in order to ensure that there is no money left on the table."

Steber suggests keeping an eye out for late year legislative changes that can impact your future taxes. For example, Extender Provisions, which include the deductions for state and local sales tax, the mortgage insurance premium, deductions for out-of-pocket classroom expenses for teachers, deductions for college tuition and fees, as well as the $500 credit for making energy-efficient home improvements, could all be on the table.

That means paying attention to the news out of Washington over the next few weeks. What happens there could affect you tax-wise in the coming years.

Story provided by ConsumerAffairs.

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Nuts & Bolts
  • Hospitals let patients schedule ER visits

    Three times within a week, 34-year-old Michael Granillo went to the emergency room at Northridge Hospital Medical Center in Los Angeles because of intense back pain. Each time, Granillo, who didn't have insurance, stayed for less than an hour before leaving without being seen by a doctor.

    July 24, 2014

  • Almost half of America's obese youth don't know they're obese

    The good news is that after decades of furious growth, obesity rates finally seem to be leveling off in the U.S.. The bad news is that America's youth still appear to be dangerously unaware of the problem.

    July 24, 2014

  • An oncologist uses scorpion venom to locate cancer cells

    Olson, a pediatric oncologist and research scientist in Seattle, has developed a compound he calls Tumor Paint. When injected into a cancer patient, it seems to light up all the malignant cells so surgeons can easily locate and excise them.

    July 24, 2014

  • 130408_NT_BEA_good kids We're raising a generation of timid kids

    A week ago, a woman was charged with leaving her child in the car while she went into a store. Her 11-year-old child. This week, a woman was arrested for allowing her 9-year-old daughter to go to the park alone. Which raises just one question: America, what the heck is wrong with you?

    July 18, 2014 1 Photo

  • Your chocolate addiction is only going to get more expensive

    For nearly two years, cocoa prices have been on the rise. Finally, that's affecting the price you pay for a bar of chocolate - and there's reason to believe it's only the beginning.

    July 18, 2014

  • Afghanistan vet who ran to grenade gets Medal of Honor

    A former Marine Corps corporal who was severely wounded when he risked his life to shield a squad mate from a grenade blast in Afghanistan was awarded the nation's highest military decoration Thursday.

    June 20, 2014

  • May 2014 was the hottest may in recorded history

    According to new data released this week, May 2014 is officially the warmest May in recorded history.
    Both NASA and the Japan Meteorological Agency have tentatively ranked May at the top of historical measurements, though NASA's numbers are preliminary because crucial information is still missing from China.

    June 20, 2014

  • Nelly-elephant.jpg Bet the farm: 5 'psychic' animals predict soccer victories

    Need some guidance on whom to place your bets for this year's World Cup? Since Paul the Octopus achieved a prediction success rate of 85 percent in 2010, hosts of animal oracles around the world have sought attention as soccer sages. Here's a look at a few of them.

    June 20, 2014 1 Photo

  • Is the FDA waging a war on artisanal cheese?

    Is the Food and Drug Administration waging a war on artisanal cheese?
    The answer depends on your perspective. But this much is certain: The agency's answer to New York regulators about using wooden boards to age cheese has caused an uproar in the domestic industry and raised questions about the status of imported cheeses that use the same process.

    June 12, 2014

  • Texting while driving is latest teen risk as smoking declines

    While smoking among American teens has fallen to a 22-year low, most adolescents admit to engaging in a new type of risky behavior: texting while driving.

    June 12, 2014

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