*taken from freshfiction.com, click here for article*

10 Tax Goofs That Many of us Keep Making:

By Jeff Schnepper

*Taken from: MSN Money*

Your income-tax return can inflict a special kind of pain when you make a mistake. Even a simple error can cost you time, aggravation, stress and, yes, money. So doing your return dispassionately and carefully is a must.

The Internal Revenue Service says taxpayers make some mistakes again and again. (I see them a lot, too.) If you can keep from making them, you’ll avoid much of that lost time, aggravation, stress and lost cash.

Here, according to the IRS, are the 10 most common taxpayer mistakes: [Read More…]

8 Types of Income the IRS can’t touch:

By Jeff Schnepper

*Taken from MSN Money*

Want to keep the tax man away from your money? It’s easier than you think. There are lots of ways to increase your wealth without having a chunk gobbled up by the IRS.

It’s not that the agency doesn’t want your money. It’s just that tax law prohibits the IRS from touching it. And with a bit of planning, you can start cutting your current tax bill and putting money in your pocket now.

Let’s look at a few examples. [Read More…]

Insurance You Want to Collect:

Ian Ayres and Barry Nalebuff, 04.23.10, 08:40 AM EDT
Forbes Magazine dated May 10, 2010

*Taken from Forbes.com*

You should buy an annuity–preferably 27 years before you’re going to need it.

Most insurance protects you against something bad–a fire or a car accident, for example. But the biggest uninsured risk that most people face is that something quite good will happen: You live a long life. Annuities protect against that outcome. They promise regular payments as long as you (and your spouse) live, so that you won’t outlast your retirement savings. If things were accurately named, annuities would be called life insurance (and today’s life insurance would be called death insurance).

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