1. Make a list, check it twice: Making a simple list can help you unclutter your mind, so that you can concentrate on the current task. Pick up a small holiday themed notebook (to keep you festive), and make a detailed list of everything that needs to be done. If you will be delegating tasks to family members, mark down who is doing what. Likewise, if you absolutely must tackle one task before a certain date, write that down, too. Make sure to list any supplies you will need to accomplish each task. If you are in charge of a meal, you can even list your recipes right in your notebook for your next trip to the grocery store.

2. Cook Early: Make your side dishes and desserts the day before your big meal. Most side dishes and virtually all desserts will keep well overnight in the refrigerator or freezer. This way, the day of your party you can concentrate on your main dish, and simply warm the side dishes before dinner. If you will be spending the day baking, take the time between cookie batches to wrap last minute gifts. If you are all caught up on your wrapping, take that time to put your feet up for a much-deserved rest.

3. Give Simply: Avoid long lines and crowds at malls and department stores by giving gift certificates. They do not clutter, and they do not cost much to ship to friends and family out of town. Plus, everyone gets exactly what he or she wanted.

4. Try a Potluck: If you are organizing a large family gathering, ask everyone to bring his or her favorite dish to pass. This way, everyone can show off his or her culinary prowess, and you will be saved from slaving away in the kitchen all day.

5. Create a Wrapping Station: Save time and energy by designating a corner of your home to gift-wrapping. If you have a nice, comfortable place to work and wrap gifts, you are more likely to get it done before the last minute. Put up a card table in the corner of a spare bedroom, and keep your gift-wrap, bags, tissue paper, tape, scissors, bows - all of it - right where you can easily get to them. Now, you do not have to lug your supplies out every time you need to wrap a gift. If you wrap gifts as you buy them, you will save time, too. When the season is over, carefully store any leftover paper and bags to use next year.

6. Send an E-Card: So, let’s say you have already mailed your cards this year, the holiday is only a couple of days away, and you get a card in the mail from someone you had forgotten this year. It might be too late to mail them your best holiday wishes, but email is instant. E-cards have come a long way lately, too. Most of the popular greeting card brands offer e-cards on their web sites, and can be personalized with text and photos.

7. Pick up Extras: Buy a couple of extra gifts early in the season. (Watch the sales thru-out the year.) Just in case someone drops by with a gift for you and you do not have anything to give him or her. Holiday treats, candles, restaurant gift cards and ornaments all make great, simple holiday gifts for anyone. These gifts are also something you can use if you do not end up giving them this year. Wrap them up, and mark a code on the bottom so you remember what is inside.

8. Prepare for Overnight Guests: It only takes a few simple gestures to make your guests feel welcome and at home. Leave a basket of travel sized toiletries in basket in the bathroom with a note inviting your guests to help themselves. Ditto for a few books or magazines on the nightstand. If the closet in your guest bedroom is full, pick up a collapsible wardrobe rack and hangers for your guests. These garment racks can easily be stored when they are not in use, and they provide a convenient spot for your guests to hang their clothes. Having a separate garment rack for guests also helps them not to forget any clothes when they pack to return home.

April 15^th and some of you are out there scrambling to make tonight’s tax deadline. Here are a few tax jokes to lighten your day….

People who complain about paying their income tax can be divided into two types: men and women.

What do you throw to a drowning I.R.S. agent?

His co-workers.

A dollar saved is a dollar taxed.

“It would be nice if we could all pay our taxes with a smile, but normally cash is required.”

“You first have to decide whether to use the short or the long form. The short form is what the Internal Revenue Service calls “simplified,” which means it is designed for people who need the help of a Sears tax preparation expert to distinguish between their first and last names. . . . The IRS wants you to use the short form because it gets to keep most of your money. So unless you have pond silt for brains, you want the long form.”

Some say that nobody should keep too much to themselves. The IRS is of the same opinion.

You must pay taxes. However, there is no law that says you gotta leave a tip.

The wages of sin are death, but by the time taxes are taken out, it’s just sort of a tired feeling.”

“Worried about an IRS audit? Avoid what is called a red flag. That is something the IRS always looks for. For example, say you have some money left in your bank account after paying taxes. That’s a red flag.”  (Jay Leno)

Post Office just recalled their newest stamps: They had pictures of IRS agents on them, and people could not figure out which side to spit on.

If a lawyer and an IRS agent were both drowning, and you could only save one of them, would you go to lunch or read the newspaper?

What do you call 25 skydiving I.R.S. agents?

Skeet.

A taxpayer received a strongly worded “second notice” that his taxes were overdue. Hastening to the collector’s office, he paid his bill, saying apologetically that he had overlooked the first notice.

“Oh,” confided the collector with a smile, “we don’t send out first notices. We have found that the second notices are more effective.”

And Finally:

An executive on his deathbed called his friend and said, “Bill, I want you to promise me that when I die you will have my remains cremated.”

“And what,” his friend asked, “do you want me to do with your ashes?”

The executive said, “Just put them in an envelope and mail them to the Internal Revenue Service and write on the envelope, “Now you have everything.”

If you can’t meet the April 15 filing deadline to file your  tax return, you can get an automatic six month extension of time to file from the IRS.

Here is what you need to know about filing an extension:

1. An extension will give you extra time to get your paperwork to the IRS, but it does not extend the time you have to pay any tax due. You will owe interest on any amount not paid by the April deadline, plus a late payment penalty if you have not paid at least 90 percent of your total tax by that date.

2. If your return is completed but you are unable to pay the full amount of tax due, do not request an extension. File your return on time and pay as much as you can. The IRS will send you a bill or notice for the balance due.  To apply online for a payment agreement, go to IRS.gov and use the pull-down menu under “I need to …” and select “Set Up a Payment Plan.” If you are unable to make payments, call the IRS at 800-829-1040 to discuss your payment options.

3. Request an extension to file by submitting Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, with the IRS by the April 15, 2009, or make an extension-related electronic credit card payment.  For more information about extension-related credit card payments, see Form 4868.

4. You can e-file an extension request using tax preparation software on your own computer or by going to a tax preparer that has the software. The IRS will acknowledge receipt of the extension request if you file by computer.

5. You can use Free File Fillable Forms to file for an extension.  You can access Free File Fillable Forms via the IRS Web site at www.IRS.gov.

6. If you ask for an extension via computer, you can also choose to pay any expected balance due by authorizing an electronic funds withdrawal from a checking or savings

account. You will need the appropriate bank routing and account numbers and must also have available the adjusted gross income from your 2008 federal income tax return to

verify your identity. For information on these and other methods of payment, visit IRS.gov or call 800-TAX-1040 (800-829-1040).

7. To obtain a copy of Form 4868 or other forms and publications use E-file tax preparation software, download them from www.IRS.gov or visit your local IRS office.

LINKS:

Form 4868, Application for Extension of Time to File U.S. Individual Income Tax Return

http://www.irs.gov/pub/irs-pdf/f4868.pdf

Form 9465, Installment Agreement Request http://www.irs.gov/pub/irs-pdf/f9465.pdf

Official Payments Corporation https://www.officialpayments.com/index.jsp

Link2 Gov Corporation https://www.pay1040.com

Here’s a few to lighten your day….

** People who complain about paying their income tax

can be divided into two types: men and women.

** A dollar saved is a dollar taxed.

** Some say that nobody should keep too much to themselves. The IRS is of the same opinion.

** A businessman on his deathbed called his friend and said,  “Bill, I want you to promise me that when I die you will have my remains cremated.”

“And what,” his friend asked, “do you want me to do with your ashes?”

The businessman said, “Just put them in an envelope and mail them to the Internal Revenue Service and write on the envelope, “Now you have everything.”

Thanks for your concern.  :>)

You have not heard much from me in the last month because I have been bogged down doing taxes.   Everyone waited until March to bring their tax info to me and so I have been working night and day.

Watch this site for lots of fun and interesting info about a week AFTER April 15^th.  (I need the week to de-stress!)

First: make sure you have done everything you can to lower your tax bill. If you have done that, you will have to pay up.

You can raise the money any number of ways:

• Borrow from your friends, family, or bank.
• Sell something like that 3^rd vehicle that you do not use too often.
• Tap a home equity line of credit
• Pay by credit card through official payments.com

You can qualify for an IRS installment plan if you prove to the IRS that you do not have enough income or assets to pay now. If you owe less than $25,000 in combined tax, penalties, and interest, you can use the Online Payment Application to request a payment agreement. This application will allow you to qualify, apply for an installment agreement, and receive immediate notification of approval.

You will be charged a $105 set up fee ($52 if you OK a direct transfer from your bank) and a variable interest rate on the balance (7% now).

The IRS does not send unsolicited e-mails about a person’s tax account or ask for detailed personal and financial information. Additionally, the IRS never asks people for the PIN numbers, passwords or similar secret access information for their credit card, bank or other financial accounts.

If you receive an e-mail from someone claiming to be the IRS or directing you to an IRS site,

• Do not reply.
• Do not open any attachments. Attachments may contain malicious code that will infect your computer.
• Do not click on any links. If you clicked on links in a suspicious e-mail or phishing Web site and entered confidential information, visit our Identity Theft page on IRS.gov.

You can help shut down these schemes and prevent others from beingvictimized. If you receive a suspicious e-mail that claims to come from the IRS, you can forward that e-mail to a special IRS mailbox, phishing@irs.gov The e-mail must be forwarded using special instructions at IRS.gov, or it loses the encoding needed to track it to its source. The IRS can use the information, URLs and links in the suspicious e-mails you forward to trace the hosting Web site and alert authorities to help shut down the fraudulent sites. After you forward the e-mail to us, delete the message.

Tax law now requires that all household items given to a charity must be in good or better condition. Those questionable items you donated in previous years and claimed were worth a few dollars because they were in fair condition are no longer acceptable.

Be sure to get a receipt from the charity of your donated goods, again for your personal records. The nonprofit will not put a dollar value on this receipt, however  the IRS now requires receipts or a written acknowledgment of your gift from the qualified charitable organization.

Several computer software programs are available to help you figure the tax value of your goodwill. However, you may still prefer to use pen and paper, jotting down the item and its worth as they are pulling it from the closet or dresser drawer. The following list will give you an idea of what your donated clothing and household goods are worth. It indicates fair market value for some common items from the Salvation Army’s valuation guide.

You do not have to send in your list of donated items with your return. Simply keep the information with your personal tax records and put the total contribution amount on line 17 of your Schedule A.

 If the total of all your contributed property comes to more than $500, you have to file IRS Form 8283 with your tax return.

Find a four-leaf clover and avoid black cats!  J

To some extent, being hit with an audit is just bad luck. The IRS says it audited 1.38 million taxpayers in 2007, up 7% from 1.29 million taxpayers in 2006. That is the highest number since 1998.

How are you picked?

An IRS computer program compares your deductions to others in your income bracket and weighs the differences. This secret IRS formula, called the DIF Score, is used to select returns with the highest probability of generating additional audit revenue. Generally, as your income increases, so does your chance of an IRS audit? However, even if you do not do anything to raise an IRS computer’s eyebrows, you could end up being plucked at random.  

Outsize deductions are a red flag!

Make sure that your itemized deductions are realistic. (Writing off more than 25% of your income would very likely get your return marked for review.)  While the IRS used to look hard at the home-office deduction, the emphasis these days seems to be on people reporting small business losses on Schedule C. The percentage of returns filed by sole proprietors (filing Schedule C of Form 1040) and audited by the IRS is nearly three times higher than returns filed by employees.

Be prepared to substantiate your expenditures as deductible expenses!

As long as you have backup, you should claim what you are due, even if doing so might raise the likelihood of your being audited.  Auto, travel, meals and entertainment have been the areas most audited. To deduct auto expenses, you must establish the percentage of business use as well as the actual expenses incurred. A written diary of miles used for business is essential.

You must have a receipt for all expenditures of $75 or more for meals and entertainment. The rule is simple: no receipt, no deduction.

Do you get your income in cash?

The IRS has specific audit programs aimed at specific professions and occupations. Because they receive much of their income in cash, people who work in the gaming industry, waiters and even doctors are prime audit targets. The more cash you receive and the higher your income potential, the more likely the IRS is to find additional tax dollars by reviewing your return.

Check your math and numbers!

Do not want to hear from the IRS at all? Go back and check your numbers. Even TurboTax and Tax Cut cannot stop you from keying in the wrong digits. These simple mistakes will not lead to an audit, but they could trigger an “assessment notice” - in other words, a bill.

In Closing:

The IRS can audit you for three years after you file your return. In reality, however, most returns are audited within 18 months of filing. This gives the IRS time to do the review and request the appropriate substantiation before the statute of limitations (usually the three-year period) ends.

Remember, tax evasion is bad, tax avoidance is perfectly legal.  An audit certainly will not be pleasant; however, it should be bearable and affordable if you have the proper paperwork to make your case.

With the advent of a new president and hopefully optimism in the economy following on the heels of the inauguration, we all have better times to look forward to. Although in stressful financial times, the media likes to remind us of other worrying times in our history there are things we can each do to help ourselves deal with the situation better.

 
Here are nine ideas to help you cope better with your financial stress in the hopes that this recession will be a soon forgotten memory for you.

1)   TURN OFF AND TUNE OUT  

We tend to stare at the ten o’clock news, striving to be well informed, as if knowledge of the latest disasters will enhance our sense of well-being.

Why do you need to watch or listen to the news?   Very few people NEED to get information this way.  Short of a tornado headed to your house, you can live your life quite nicely without the news.  Try it for a week and see what happens.

2) IT WILL NOT LAST FOREVER

One of my favorite authors, Og Mandino is his book “The Greatest Salesman in the World” gave four words that “have been passed down from the ancients that will carry me through every adversity and maintain my life in balance.  These four words are: This too shall pass.”

He is right.  It WILL pass and five or ten years from today we’ll be reading about this in the paper and
we’ll think…”Oh yeah, I remember that”. It will make a great story to tell your kids or grandkids.

As the old saying goes: the only difference between tragedy and comedy is time.

3) ZIP IT! 

Quit talking about the economy to everyone you meet.  Pity parties help no one on any subject so keep the complaining to a minimum.  Do not hang around people who insist on wallowing in all the negativity.

It is not that you should not think about the economic crisis but think about it only to the extent that you can control it.  Put your money places where you are comfortable, deal with it and move forward. As I said in my July 9^th post: KEEP CALM and CARRY ON!  

4) LAUGH!

 Since 1922, Reader’s Digest has been telling us that laughter is the best medicine.  Take daily laugh breaks. 
It is so easy with the internet.  Go to www.Youtube.com  and search for “game show bloopers” and you will be
laughing AND feeling smarter in seconds. 

You can find Saturday Night Live and Mad TV clips all over the internet.  Many cartoons, full-length movies
and sitcoms can be viewed in their entirety online.

 5) FACE YOUR FINANCES

 They will not get better by ignoring them.  They will not go away.  Your credit score might be hurt if you cannot pay your bills or you get behind, but you will not go to debtor’s prison. 

It is no fun jumping every time the phone rings for fear it is a creditor.  If you need help in the U.S.,
visit www.NFCC.org the National Foundation for Credit Counseling.  Do not deal with any organization that promises to help you with your finances for a percentage or a large up front fee.

If you can pay all your debts on time now, work on a plan to get your highest interest debt paid off first. 

6) KEEP TRACK 

Be brutal in tracking your spending and income.  By brutal, I mean keep track of every penny.  We all have
a problem with “mental accounting.”  We do not look at ‘just’ a dollar as real money and thus would likely not even consider tracking expenses that small.  A dollar a day over a year is $365.  It really does add up.

Keeping track of each and every dollar can be an eye-opening experience.  You will often discover unnecessary waste that is easy to fix.

7) GO FOR A ONE MINUTE WALK EVERY DAY

It has been proven that those who regularly exercise have lower stress levels than those who do not.

Our brain is wired to set off alarm bells whenever we want to make a departure from our usual, safe routines.  Any new challenge, opportunity or desire triggers some degree of fear.  Take VERY small steps so as not to wake up that fear.

So for example, start by marching in place, in front of the TV for one minute a day.   Just one minute.  Eventually march for 3 minute commercial breaks and then for whole shows.  Soon the ridiculously small actions will grow into the firm habit of running one mile each day.  Note that this gradual buildup to a steady program is the exact opposite of the usual pattern, in which a person starts with a burst of activity for a few weeks, but then returns to a comfortable spot on the couch

START ANOTHER INCOME STREAM

People who work 9-5 and do nothing else to earn money have always perplexed me. They get up every day, shower, drive to work, work, drive home, do whatever they do at home, go to bed and start it over again every day for 40 years. At home, they worry about job security, promotions, raises, benefits and the like but they do little if anything to ensure their own future, content to rely on an employer who may or may not be around
in 5 years.

Spend some of your worry time researching ways to make extra money.  Any bookstore or library will
have many books on the subject. Get your children involved.  Make it a partnership.  What an incredible gift to give your children.  The gift of independence.

Yes, there may be laws and rules and regulations you need to follow but do not let those stop you.  They are
many resources available to help.

Start at the small business administration.  www.SBA.gov  and also check out SCORE at www.score.org
 

9) LOOK for FOUND MONEY! 

Every state has an office that handles what are known as ‘Unclaimed Funds” or “Unclaimed Property”.    Unclaimed funds are forgotten bank deposits, tax refunds, and security deposits from landlords and utility companies to name a few.  Most amounts are very small but it is still fun to search.  You can search the databases online.  Most will not tell you how much is owed but some will give you a range.  Search for your name and the names of all your friends and relatives in whatever states they live.

When you find some money that is owed, point your friend or relative to the appropriate website and collect the
gratitude (and hopefully a finder’s fee!)   You may feel like Santa at Christmas handing out wads of cash. 

The site to begin your search is: http://www.FindLostMoneyHere.com 

Here are nine ideas for you to try.  None of them are hard and some you my find fun.    Turn off the TV and the radios…ignore the natterings of negativity and live a less stressful and more peaceful life.