Money Minute Report, 5pm, April 2, 2007

April 2, 2007

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Money Minute Report, 5pm, April 2, 2007

Jeremy Landers

Preparing your taxes can be challenging.  That might explain why a Reported 12% of taxpayers believe cheating on their returns is all right.  But be warned, auditors at the IRS know this statistic too.  That might explain why last year there was a 6% increase in the number of audits of individual returns.  To make sure you prepare your taxes correctly, here's some advice. If you donated clothing or household goods after mid-august, the items had to be in good condition to qualify for a deduction.  Experts suggest keeping a list and taking photos of the items to be on the safe side. Tax credits may be available if you paid someone to watch your children while you worked or went to school.  But be sure to have a copy of the childcare provider's tax ID number. Finally, a new tax credit rewards homeowners who made their home more energy efficient. From new insulation to a more efficient boiler, you could receive as much as $500 in tax credits. But don't toss those receipts, you'll need them to prove the windows are new.

 

 

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Poll

Retailers are figuring out ways to get you to shop heartily for the Christmas season. What are your plans?

  • I'm shopping as I have done in past seasons.
  • I'm really curtailing my Christmas shopping.
  • I plan to make my gifts.
  • My buying will mostly be on line.
  • I'm cutting back my speading a little for Christmas.