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Tax moves to make in June 2013

Welcome to June, the month that brings us June bugs, June brides and the official arrival of almost everyone's favorite season, summer.

And while it's tempting to focus on vacations to pristine beaches and mountain cabins, lazy days with no classes and a general slower outlook on life, you still need to pay some attention to your taxes. So here are a few June Tax Moves to make in the coming days.

June_Tax_Moves_160Not to run my meteorology fixation into the ground, but we all need to be aware of the overlap of the tornado season -- what's Mother Nature's problem with Oklahoma!? -- and the start today of what is predicted to be an active 2013 Atlantic hurricane season.

If you live in a hurricane zone, and as Sandy made all too clear they stretch well beyond the traditional beach locales at the southern end of the Eastern Seaboard or the Gulf Coast, then it's time to prepare. This will help if, God forbid, you end up in a major disaster area and need to file a damage claim with your amended or upcoming tax return.

On a happier note, the energy-efficient home improvement tax credit is back for 2013. If you still have some of the lifetime maximum $500 left to claim, you can make some relatively easy and inexpensive home upgrades that will help keep your house cooler this summer.

Happier still, newlyweds who tie the knot this month (or any time of the year) need to evaluate their payroll withholding. When both the bride and groom work, you need to coordinate the amount of taxes taken out of each of your now combined household paychecks.

And speaking of payroll taxes, if you have other income that isn't covered here, such as a side independent contractor job or investment earnings or a taxable windfall like gambling winnings, then you need to pay estimated taxes. The second 1040ES of 2013 is due June 17; that's two days later than usual since June 15 this year falls on a Saturday.

You'll find more June Tax Moves over in the ol' blog's right column under the heading of the same name. And just in case you're as obsessed with storms as I am, you'll also find among those tax moves a countdown clock that keeps track of how many days of hurricane watch we have left this year.

I now return you to regular summertime fun programming.


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