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 MORE TAX IDEAS | |||
For more tax answers, watch Kevin McCormally's "Tax Tips" segment on Nightly Business Report every Monday in March as well as April 10 through 14 on your PBS station. |
Here's a memory jogger that could save you some money: Did you assign part or all of your 2006 federal tax refund last spring to your 2007 tax bill?
Lots of taxpayers who have to make estimated-tax payments during the year do that. They just let the IRS keep the money, rather than getting a refund and having to turn around and write the IRS a check for the first quarterly payment.
If you did so, make sure you include the amount with your other estimated tax payments on line 65 of your Form 1040. That will cut what you owe or beef up your refund this year dollar for dollar.
For more information about filing your tax return if you're a freelancer or have your own business, here's a rundown of the paperwork you'll need and a few tips to help lower your tax bill.
For more tax answers, watch Kevin McCormally's "Tax Tips" segment on Nightly Business Report every Monday in March as well as April 10 through 14 on your PBS station.
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