Property taxes across the country

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Rich get most of the tax benefits

Tax breaks in the new small business bill

Property taxes across the country

Monday, September 27, 2010

CreditLoan.com with its Financial Infographics provides this interesting visual of state-by-state property taxes assessed owner-occupied homes.

Click on the image for a larger view; once it opened in a new browser, I had to click it again to get a more easily "readable" size.

How glad am I that my home state of Texas leads the nation in property taxes as a percentage of home value.

Guess that sort of balances out the no-income-tax break for us Lone Star State residents who own houses.

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Posted on Monday, September 27, 2010 at 12:13 PM in Real Estate Housing, State/Local, Taxes | Permalink | Comments (1)

Tags: homeowners, property taxes, real estate, taxes

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Are the tax numbers a combination of "school taxes" and "government (state, county, town, village taxes? The New York number looks very low to me.

Posted by: Jean Matson | Wednesday, March 09, 2011 at 05:23 PM

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Weekly Tax Tip

Avoiding too-high taxes on damaged property — What's worse than losing your home to a disaster? Having to pay taxes on the destroyed property. That's why you need to let your local tax officials know as soon as possible after your taxable property was seriously damaged or destroyed, regardless of whether by Mother Nature or some other calamity. (Sept. 13, 2019)
Check out all the latest post-Tax Day tax advice in the 2019 edition of Weekly Tax Tips. Many of these once-a-week tips will focus on planning moves to cut your 2020 tax bill. If, however, you're working on a filing extension for your 2018 return, you can get a refresher of the 2019 Filing Season Tax Tips at their respective monthly pages: January, February, March and April.

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Kay Bell — Native Texan (the blog title totally makes sense now, right?). Professional journalist. Tax geek.

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Tick ... Tick ... Tick

Tax Season 2019 continues!
Are you among the almost 15 million taxpayers the IRS estimates are now on extension to file their 2018 tax returns? That new Oct. 15 tax filing deadline will be here before you know it. The countdown clock below will help you track the days until that absolutely final filing due date arrives. Maybe in the next six months, we'll have a better handle on the Tax Cuts and Jobs Act changes!
Note: I'm in the Central Time Zone, so adjust accordingly for where you live.

Time for Tax Tasks

Sept. 1: Summer unofficially ends today. It's the Labor Day weekend, a three-day break before we all settle into the autumnal routines of back-to-school and full work days. If you took advantage of the long weekend to make one more out-of-town trip, then you might have noticed some states, 14 to be precise, hiked their gas taxes earlier this year.

Sept. 2: Happy Labor Day! This celebration of workers' contributions is a federal holiday and day off for many.

via GIPHY

In most employment situations, workers are employees. Some folks, however, are the boss. And in entrepreneurial instances that operate as passthrough companies, the Tax Cuts and Jobs Act's §199A deduction could be valuable at tax filing time.

But the new tax reform bill also took away a prior tax break, the ability to claim some business related expenses, such as union dues, as an itemized deduction. That miscellaneous claim is no longer on Schedule A.

Sept. 6: School is back in session. But it's not just students facing lessons. Parents of elementary, secondary and college kids need to do their homework to learn how Uncle Sam can help cover some educational costs at all levels.

Sept. 8: Happy Grandparents' Day!
If you're an older grandma or grandpa, pay attention to your overall earnings. Your added retirement income could result in some of your Social Security benefits being taxed.

If you're helping out an older parent, Mom or Dad could be qualify as a dependent and help you claim the new $500 tax credit for qualifying dependents.

Sept. 10: If your job compensation includes tips and you received $20 or more in gratuities in August, use Form 4070 to report them today to your employer by today.

Sept. 11: Today is Patriot Day, the annual observance to remember those who died or were injured during the terrorist attacks in New York City, Pennsylvania and Washington, D.C. on Sept. 11, 2001. On this annual National Day of Service and Remembrance, you can find charitable remembrance activities in your area through the National Corporation for Community Service, which grew out of the many commemorations of the 9/11 victims. You also can contribute to the nonprofit of your choice, either one that assists victims or in the name of someone you wish to honor.

Click image to visit the
Community Service Facebook page.
While the time you volunteer is not tax deductible, if you itemize you might be able to deduct your donation of cash or goods.

Sept. 13: This Friday the 13th was scary enough, but then you got that Internal Revenue Service notice notice. Don't panic. These 13 tax notice tips can help you deal with the IRS correspondence today or any day.

Sept. 16: It's estimated tax time again. Your third voucher for the 2019 tax year is due today, a day later than usual since the Sept. 15 deadline was on Sunday.

Sept. 23: Fall officially arrives today with the autumnal equinox at 3:50 a.m. Eastern Daylight Time. It's a good time to think about home maintenance that will help you weather the coming colder weather. While making those necessary repairs, also consider home improvements that could increase your home's basis and guarantee you won't owe any capital gains tax on your eventual residential sale profit.

Sept. 30: September is ending, but not the 2019 hurricane season.

September started on an ominous storm note, with the Category 5 Hurricane Dorian heading for the United States' eastern seaboard.

This month typically is the busiest of the storm season, which runs through Nov. 30, so be ready. The countdown clock below can help you keep count of how many more days you have to track the tropics.

You also can find tips on getting ready, physically and financially, for hurricanes, as well as tax help for recovery efforts and tax deductions for donations to those who are hit by natural disasters at the ol' blog's Storm Warnings pages.

Small Business Tax Calendar: Important filing, deposit and record keeping dates throughout the year that your company needs to know. You can get more tax calendar information at the IRS' online calendar page and view the full year's important business and individual tax dates in IRS Pub. 509.

State Tax Help

Don't forget your state taxes!
Forty-three states and D.C. collect personal income taxes. But even if you live in of the seven states without an income levy, you still face other state (and local) taxes.

State Tax Departments provides links to your state's Web page. The companion page, Tax Tidbits, is the compilation of blurbs about each state's tax laws. And for more state tax news, check out all our state tax bloggings.

0, 1, 2, 3, 4, 5, 6, 7, 8, 9 ...

Taxes are all about the numbers.
Check out these (mostly) weekly
By the Numbers figures.

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AKA Disclaimer:
I am a professional journalist who has been covering tax issues since 1999.
I am not a professional tax preparer.
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