Welcome to the October 25, 2011 edition of Tax Carnival Ecstasy. In this edition of the Tax Carnival Ecstasy we have a number of great articles from different financial blogs. Roger White starts us off with 401k Contribution Limits in 2011 and 2012, for those looking to max-out their retirement savings. SteveR has a good post with What to Expect after Receiving an IRS Certified Letter, if you just discovered that you are being audited. And finally, Al Peters presents 4 Things You Should Know About Your Self Assessment Tax Return 2011. Hope you enjoy the material, bookmark, share, tweet,

Let’s face it: taxation laws can be complicated. The average person has limited knowledge of things like mergers & acquisition, San Diego tax laws, management consulting, San Diego business formations and much, much more. Even if you have filed your own taxes before and have never sought assistance, there are some scenarios in life where you may want to find a consultant to help you transition and prepare your taxes accurately.

1) You’ve started your own business.

If you have recently started your own business, congratulations! This is a huge accomplishment that can reap big rewards. However, there are a … Read more at 2009 Taxes

There is that old adage that goes ‘two things in life are for certain, death and taxes.’ However, sometimes we run into difficulty and need some sort of resolution. There are several avenues available, notably, seeking advice from an enrolled agent, getting a tax attorney or hiring a debt counseling/resolution firm, to handle your tax situation.

It can be argued that tax law is not the easiest to comprehend, especially for the average citizen and one is not always able to decide which avenue to take to address a given tax issue. It is almost a surety that a … Read more at 2009 Taxes

Do You Need to File a Tax Return?

Most American citizens need to file a tax return but there are some individuals due to age, filing status and income that are not required to do so. An example is a married couple filing jointly that earned less than $17,900 during 2008. The exception to the rule is if one of the individuals is self employed. Self employed individuals always need to file a return if they earned over $400 for the tax year.

Choose to File

If you contact a tax specialist or call the IRS and determine that you … Read more at 2009 Taxes

2 Important Changes in the Tax Law this Tax Season

The Standard Mileage Rates for travel in 2008 have improved to help compensate for higher gas prices experienced during the year. While the Kiddie Tax has been adjusted to include more children.

1. Standard Mileage Rates Change

The only standard mileage rate to not change is the mileage rate for volunteer travel. But all other forms including business and medical travel have increased. The mileage rate for business travel increases to 50.5 cents a mile for the first half of the year while the second half of the year gets … Read more at 2009 Taxes