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A Dozen, Last Minute Tax TipsIf you receive an incorrect 1099 or W-2, a corrected copy should be issued. Ask your tax adviser how to proceed.Don't Forget to Sign and Date the Return. If filing a joint tax return, make sure your spouse signs and dates the return too. Split a Directly Deposited Refund in Up to Three Accounts. Beginning this year, there are more options for receiving your directly deposited federal tax refund. You can request to have it deposited in one, two, or three different U.S. financial institutions, such as banks, credit unions, mutual funds, and brokerage firms. There is no requirement to divide the deposits equally. Remember the Rules for Donating Used Clothing and Other Items Have Changed. If your 2006 tax return includes a charitable deduction for the donation of used clothing and household items, such as furniture, be aware that the rules have changed. Generally, the value attributable to such donations is the fair market value, but used items donated on or after 8/17/06 can only be claimed if they are in "good condition or better." Get Extra Credit This Year for Amounts Paid on Past Phone Bills. If you, your business, or your tax-exempt organization paid long-distance phone bills in March 2003 through July 2006, you may qualify for a one-time refund of federal excise tax on your 2006 tax return. Individuals can claim a claim refund of $30 to $60, depending on how many exemptions are on a return. If you have good phone records for the months in question, you also have the option of claiming the actual amount of tax paid. click here for complete article Need to sell you home, condo or building lot? Visit 888SOLDin9 to talk with our Jacksonville FL 888soldin9 partner about your personal financial situation. Our Jacksonville FL partner, Jim Tallent buys, sells, renovates and rents homes and properties in Jacksonville FL, Duval County FL and Northeast Florida. |