TAXES!! Yes, the dreaded word. We live, pay, hate, and will die paying taxes. I hope this helps some…please do NOT be confused by others posting information. ALWAYS consult with a tax advisor or an accountant (such as moi!) before filing. Your penalty under law is that you will have to pay or you may be charged with tax evasion in the event that you incorrectly file or claim specific deductions and incomes on your taxes. Here are the basics about blogs and taxes. Again I highly stress TALK TO AN ACCOUNTANT! A stay at home mom (with no specific formal training in finance, accounting, or tax laws) or someone who happens to know an accountant is NOT an accountant. Get on the phone, go down to a local office, search IRS.Gov and get your facts.
Let me know if you have additional questions or concerns. I will be posting over the next weeks on taxes as well for first time and existing home buyers how to receive the tax credit and how your mortgage works. Ask me questions and send them to email@example.com for future Thursday Tips and Tricks.