Read This 1st Tax Filers!!

Here are the 13 most overlooked tax deductions- making mistakes can and does cost us taxpayers millions a year- do not be one of them losing out on good $$$

State Sales Tax
1.Although all taxpayers have a shot at this write-off, it makes sense primarily for those who live in states that do not impose an income tax. You must choose between deducting state income taxes or state sales taxes. For most citizens of income-tax states, the income-tax deduction is a better deal.

2. $250 Educators' Expenses
Teachers and their aides can deduct up to $250 they spent in 2007 for books and classroom supplies. If you qualify, put your deduction on line 23 of the Form 1040. You get this deduction regardless of whether you itemize. ax. You must choose between deducting state income taxes or state sales taxes. For most citizens of income-tax states, the income-tax deduction is a better deal.

3. College Tuition
You may qualify to deduct up to $4,000 you paid in college tuition in 2007 for yourself, your spouse or a dependent. This break can pay off if your income is too high to qualify to claim the Hope or Lifetime Learning credit.

4. Student Loan Interest ... Paid by Mom or Dad
Until recently, if parents paid back a student loan incurred by their children, no one got a tax break. To get a deduction, the law held that you had to be both liable for the debt and actually pay it yourself. But now there's an exception. If Mom and Dad pay back the loan, IRS treats it as though they gave the money to their child, who then paid the debt. So, a child who's not claimed as a dependent can qualify to deduct up to $2,500 of the loan.

5. Out-of-Pocket Charitable Contributions
It's hard to overlook the big charitable gifts you made during the year, by check or payroll deduction. But little things add up, too, and you can write off out-of-pocket costs you incur while doing good works. Ingredients for casseroles you regularly prepare for a nonprofit organization's soup kitchen, for example, or the cost of stamps you buy for your school's fundraiser count as a charitable contribution.

6. Jury Pay Paid to Employer
Some employers continue to pay employees' full salary while they are doing their civic duty but ask that they turn over their jury fees to the corporate treasury. The only problem is that the IRS demands that you report those fees as taxable income. You've always had a right to deduct the amount, so you weren't taxed on money that simply passed through your hands. But now tax forms include a line dedicated to this deduction.


7. Military Reservists' Travel Expenses
If you are a member of the National Guard or military reserve, you may deserve a deduction for travel expenses to drills or meetings. To qualify, you must travel more than 100 miles and be away from home overnight. If you qualify, you can deduct the cost of lodging and half the cost of your meals, plus 48.5 cents a mile (and any parking or toll fees) for driving your own car. You get this deduction regardless of whether you itemize.

8. Child-Care Credit
It's easy to overlook the child-care credit if you pay your child-care bills through a reimbursement account at work. The child-care credit applies to no more than $6,000 (for two or more children) of qualifying expenses. And, the law allows you to run up to $5K of such expenses through a tax-favored reimbursement account at work. So, if you run the maximum $5K through a plan at work, but spend more for work-related child care, you can claim the credit on that extra $1K. That would cut your tax bill by at least $200.

9. Estate Tax on Income in Respect of a Decedent
This sounds complicated, but it can save you a lot of money if you inherited an IRA from someone whose estate was big enough to be subject to the federal estate tax. Basically, you get an income-tax deduction for the amount of estate tax paid on the IRA balance.

10. State Tax You Paid Last Spring
Did you owe tax when you filed your 2006 state tax return in the spring of 2007? Then remember to include that amount with your state-tax deduction on your 2007 return, along with state income taxes withheld from your paychecks or paid via quarterly estimated payments. withdraw the money from the IRA and pay tax on it, you also get to deduct a proportional amount of the estate tax paid. If you withdraw $50,000 in one year, for example, you get to claim a $22,500 itemized deduction on Schedule A.

11. Refinancing Points
When you buy a house, you get to deduct points paid to get your mortgage in one fell swoop. When you refinance a mortgage, though, you have to deduct the points over the life of the loan. That means 1/30th a year if it's a 30 year mortgage -- that's $33 a year for each $1,000 of points you paid. Not much, maybe, but don't throw it away.


12. Reinvested Dividends
This isn't really a deduction, but it is a subtraction that can save you money ... and this is a break that many miss.If, like most investors, you have mutual fund dividends automatically invested in extra shares, remember that each reinvestment increases your "tax basis" in the fund. That, in turn, reduces the taxable capital gain (or increases the tax-saving loss) when you redeem shares. Forgetting to include the reinvested dividends in your basis means overpaying your tax.get to deduct points paid to get your mortgage in one fell swoop. When you refinance a mortgage, though, you have to deduct the points over the life of the loan. That means 1/30th a year if it's a 30 year mortgage -- that's $33 a year for each $1,000 of points you paid. Not much, maybe, but don't throw it away.

13. Jury Pay Paid to Employer
Some employers continue to pay employees' full salary while they are doing their civic duty but ask that they turn over their jury fees to the corporate treasury. The only problem is that the IRS demands that you report those fees as taxable income. You've always had a right to deduct the amount, so you weren't taxed on money that simply passed through your hands. But now tax forms include a line dedicated to this deduction.

Fancy Table For Less

Here are some easy and thrifty ways to impress your guests at the holiday table.

Make your own placemats simply and easily. Use pinking shears to cut sheets of fabric to size - approximately 12"x 17" works well. Create a simple pattern by stitching a ribbon to the placemat.
For matching napkin rings, simply tie a length of the same ribbon around your napkin.
This tip is simple and fun for anyone who has these few items- you can also make a whole bunch of these sets using different colors, impress company every time!

Wipe Out Whiteflies

Whiteflies are small, triangular, white-bodied insects that love to take up residence on houseplants. They are an annoyance to plant owners and can cause the leaves of your plants to yellow and drop off.
Here are some control measures:

Use yellow sticky traps.
Use soap spray at five to ten day intervals.
Alcohol spray: 4 parts water to 3 parts rubbing alcohol. Add a squirt of liquid soap.
Remove and destroy all leaves that are more than 50% damaged.

Find The Treasure

Here is a fun exciting game to play to keep romance fresh and exciting. When he comes home he finds a treasure map that you made for him. Then, he goes on a hunt throughout the house, and at the end, you are waiting for him with a room full of candles, roses and chocolate-covered strawberries. It is a silly little game, but it is fun to play.
You can change up this game in many ways with locations,hints,clues and the surprise ending.
That's why I like this game it never has to become boring for you two and both can play.

Meadow Of Wildflowers

Plant a Wildflower Meadow
Wildflower Meadow Fiction: To create a beautiful wildflower meadow, just buy one of those pretty shaker cans of wildflower seeds, spread them over your lawn, and stop mowing. Wildflower Meadow Fact: Although a wildflower meadow is easier to create than a flowerbed, you will need to prepare the soil by tilling thoroughly, and encourage your meadow by watering regularly. Here are some basics to help you establish your wildflower meadow:
Every wildflower mix should contain some meadow grasses. These grasses add texture and help stabilize the soil.
The label on your mix should list every species contained in the mix. Try to find a good mix for your region.
Try to rid the meadow of weeds before planting. Weeds are the most common reason for the failure of a wildflower meadow.
Solarization usually does a good job of ridding the soil of weeds.
Till and prepare the soil as you would for any seedbed, then apply the seeds at twice the rate recommended on the package. To facilitate even spreading, mix seeds with equal portions of clean river sand.
Keep the seedlings moist and weed diligently.
Cut to 6 inches high in late winter to prevent invasion by woody plants and to help disperse flower and grass seeds.
Sow annual seeds yearly, since they seldom reseed themselves as expected. After the second year the perennial seeds will begin to come into their own, and annual seeding may not be necessary.

Cleanser Control

This tip I learned from my days as a janitor and housekeeper
When opening a can of cleansing powder, don't fully remove the sticky tab that covers the holes on the top of the can. Lift it off and place it over half the holes, leaving half covered, half open. This way there is less waste, less gritty residue to rinse and less product washing into our waterways. This trick is especially useful if young kids want to help clean the bathroom!

B 4 Hitting The Road (pt 6)

Other Items

Even though it will probably lose its charge before you need it, a fire extinguisher is a good idea. A car fire could start from a wire that's worn though its insulation. Extra fuses are good to have in case a light goes out. A hose repair kit is ideal for quick repairs of leaky coolant hoses. Also, a cellular phone is good idea when help is necessary. Additional items for your kit should be a basic first-aid kit, a few quarters or a calling card for phone calls (if you don't have a cell phone), water, a blanket and some emergency food to give you an extra shot of energy when you need it. High-protein bars are a good choice because they have a long shelf life. Customize your emergency kit to fit your needs. Some items you may not have any use for and there may be things that you want to have in your vehicle that were not mentioned in this series of articles. Whatever you include, remember the idea of the emergency kit is to help you get back on the road again safely and quickly.

Annuals Indoors

Most annuals are easy to start indoors, and starting your own bedding plants is an economical way to fill out your beds. Start the seeds in flats or trays, and place the trays under lights once the seeds germinate to keep the plants from getting leggy. The lights should only be a few inches from the tops of the plants. Keep the plants well watered and fertilize lightly once they have true leaves. Transplant to individual pots when the plants have 4-6 leaves, and transplant outdoors when the danger of frost has passed.

Tooth Wisdom

Most young kids haven't had teeth long enough to have anything go wrong with them.
But a Finnish study has highlighted some interesting risk factors, according to a report in the Journal of Dental Research:
Researchers at the department of child neurology at the University of Turku in Finland found that:
If a child's mother is still in her teens, it's five times more likely that the child will have cavities by age 5.
If a child's father has at least one cavity each year, the chances that the child will have cavities by age 5 more than doubles.
If the child's mother doesn't brush her own teeth regularly, it doubles the likelihood that her child will have cavities.
Living in a rural area also doubles the chances of a child having bad teeth.

Tennis Shoe Magic

Removing Scuff Marks
An easy way to remove black scuff marks from floors is right at your fingertips - er, toes. Just take a tennis shoe and gently rub it over the mark. It should lift off very easily. This is a great tip I learned on my own, after seeing my shoes had a magic touch- It truly works and costs you zero!

Let The Trees Breathe

Unwrap the tree if
you used a tree wrap or guard around your fruit and deciduous trees over winter, it's time to remove the protection. Leaving a tree wrapped until the weather is warm gives insects a cozy hiding place. Choose a cloudy day to prevent sunscald on the tender bark.