XL Country 100.7 KXLB Radio » taxes

Governor Steve Bullock Releases 2012 Tax Returns

Associated Press — Thu, 02 May 2013 14:48:39 +0000

Governor Steve Bullock and his wife Lisa made $176,000 last year and paid $32,000 in state and federal income taxes. The Democratic governor recently released his 2012 tax returns to the public like other governors before him. The couple had typical deductions like real estate taxes and mortgage interest. The Bullocks also reported giving [...]

The IRS Is Going to Check Facebook to See If You Cheated on Your Taxes

Colleen O'Quinn — Tue, 09 Apr 2013 14:30:19 +0000

Bad news . . . someone finally told the IRS about Facebook. According to reports, this year, the IRS plans on checking your Facebook page and Twitter accounts, to see if you’re cheating on your taxes. For example, let’s say you went to Key West for Spring Break, but you wrote off the flight and [...]

Opponents Call Montana Tax Cut Proposals "Wealth Redistribution"

Associated Press — Wed, 13 Mar 2013 17:38:55 +0000

A Helena Democrat is asking the Republican-led Legislature to consider a tax hike for those earning more than $150,000. The proposal from state Sen. Christine Kaufmann would reduce state income taxes for all wage earners below that threshold. Kaufmann told the Senate Taxation Committee Wednesday her plan needs to be part of the broad discussion [...]

Broadwater County Raises Taxes to Make Up for 6 Year Shortfall

Associated Press — Tue, 12 Mar 2013 16:57:20 +0000

Broadwater County officials have increased property taxes to make up for shortfalls in its accounts for the Townsend and Three Forks school districts. County treasurer Doug Ellis says the county has collected the wrong amount of taxes for six years due. He says the county levied $256,750 less than it should have between 2006 [...]

Filing Your Taxes at the Last Minute? Here Are Five Things You Need to Know

Maura Chwastyk — Tue, 10 Apr 2012 14:55:57 +0000

Remember the kids who always sat in the front of the classroom, the ones who reminded the teacher when she forgot to hand out homework? Those kids grew up into adults who get their oil changed every 3,000 miles, visit the dentist every six months like clockwork and file their taxes as soon as they can.

Then there were the back of the class kids. They’re now the reasons dentists send those “we’ve missed you” cards and cars have low oil lights. If you’re a “back of the classroom” kid, don’t worry — there’s still time to get those taxes filed. Here are a few handy tips for the procrastinators of the world.

Tax Rate Changes You Need To Know About

XL Country — Wed, 13 Jul 2011 13:49:45 +0000

Although tax rates are a boring subject, you need to keep up with them when they change. Effective 7/1/11, the new standard mileage rate is 55½ cents per mile for the remainder of 2011 (unless they change it again).

How To Deduct Travel Miles In Your Taxes, Better Start Tracking Now

XL Country — Mon, 13 Jun 2011 15:25:27 +0000

Over the months to come, we will be bringing you tax and accounting tips from CS and Company that we hope will be helpful in your business and personal life. Feel free to let us know topics you would like to know more about. We will try to keep it current, interesting and informative. Upcoming topics include costs savings of hiring a tax professional to prepare your taxes, deducting mileage, stashing tax free income away and changes in payroll taxes. Hope you’ll join me and utilize my tips!

How To File an Extension For Your 2010 Taxes

XL Country — Mon, 18 Apr 2011 21:42:53 +0000

Because of Emancipation Day, a little known Washington D.C. holiday that this year is being celebrated on April 15, US taxpayers had until April 18 to file their taxes.

For some people that still won't be enough time to get all their papers in order. If you find yourself in that boat, you can file for an extension with the IRS.

It's important to remember that filing an extension doesn't extend the due date for any money you owe the IRS, and you will have to pay interest and possibly penalties on any money you send to the government after the April 18 deadline.

Read on for advice, from the IRS website, on who should and shouldn't file for an extension.

Seven Ridiculous State Taxes

XL Country — Fri, 15 Apr 2011 14:29:53 +0000

While doing (and paying) your taxes is the opposite of a good time, there are some taxes that are so ridiculous, they’re actually kind of fun. Well, maybe not so fun if you actually live in one of these states. Check out our list of seven ridiculous state taxes: Illegal Drug Tax – Tennessee In [...]

Five Forbidden Tax Deductions

XL Country — Tue, 12 Apr 2011 18:16:29 +0000

One of the few joys of tax preparation is making deductions and watching your bill from Uncle Sam get lower and lower. Here’s a list of five expenses that might be tempting to deduct, but are strictly forbidden by the IRS. 1. First Land Line If you happen to be one of the increasing number [...]

5 Helpful Tips for a Successful Tax Return

XL Country — Fri, 08 Apr 2011 19:44:34 +0000

It’s tax time! It can get overwhelming to file all alone. Here are a few resources that might help.
The IRS Website
The IRS’s website, while written in legalese, is the ultimate guide to everything you’ll need to know about your taxes. Here, you can download tax forms and find out which items are deductible. The site is a valuable resource if you’re filing your own taxes.

5 Great Ways to Spend Your Tax Refund

XL Country — Thu, 07 Apr 2011 20:05:25 +0000

It’s tax season, but that also means it's tax return season, too. In 2010, the average return was $3,036. That’s a lot of money to get at one time. With all that extra cash, you might be asking yourself, "How should I spend it?"

Here are few ideas.

Seven Celebrities Who Cheated on Their Taxes

XL Country — Fri, 01 Apr 2011 17:57:40 +0000

With tax day just around the corner, the IRS is readying itself to spot this year's round of tax evaders. Given the lack of impulse control and sense of entitlement among the celebrity set (we're looking at you, Charlie Sheen), it should be no surprise that the famous and the powerful are among the worst tax cheats out there. Here are seven celebrities who didn't pay the tax man, and ended up paying the price:

The Unseen Taxes That You Pay Every Day

Tom Jordan — Wed, 02 Mar 2011 18:30:16 +0000

So the old joke says that nothing is certain in life but death and taxes. It seems like taxes continue to go up and up, no matter who "promises" they won't in Washington, right? We pay tax on darn near everything... I found this story to help illustrate how the tax burden can be spread around, consider the "tax trail" on a few common daily items:

Obama Saves All Tax Payers Billions

XL Country — Tue, 01 Mar 2011 20:23:25 +0000

Wow, we have been wasting billions of dollars in tax payers’ money. Obama called for a detailed report to discover areas of spending that may be redundant or just plain dumb. What they found–546 such programs that fell into one of these categories. Even republicans are stating the obvious, “[This] makes us all look like [...]

Tax Time – Are You Ready

Tom Jordan — Sun, 27 Feb 2011 15:53:04 +0000

Have you filed your income taxes yet? Getting anything back or do you have to pay? I’m split in two again. Not only federal, but this year I have to file Montana AND California state income tax! UGH! What about you? Ready? Click here for more details! Tax Time ARE YOU READY?

Gotta Love An Extra Day

Tom Jordan — Wed, 05 Jan 2011 18:00:17 +0000

So this year we get an extra day (or 3!) to file our income taxes! YAY! Why? Because Friday the 15th is Emancipation Day, a little-known Washington, D.C., holiday that celebrates the freeing of slaves in the district.

I've never been one to wait until the last day, but have several friends who do that...do you? This year should be pretty interesting for us tax wise. Two jobs, two states, moving and all that stuff. If you do wait until the last minute, make sure you have everything postmarked by midnight on Monday April 18th this year.