Ladies Who Launch

Last Minute Tax Tips

I write about bookkeeping at my blog, Keeping Nickels and here is a recent post about taxes. Here's a great link to tips for filing taxes this weekend. (via Lifehacker)

• Get help from the source. The IRS web site is surprisingly useful. There’s a library of forms and publications, an extensive list of frequently asked questions, and information on how to file for an extension.
• Claim your telephone excise tax refund. If you’ve had phone service since 2003, you can claim a standard refund of either $30 or $60 (depending on the exemptions you claim). If you saved your phone records, you may be able to claim even more! The IRS says that 30% of those filing returns are forgetting to claim this.
• Take advantage of the Free File program. The IRS reports that 70% of all taxpayers qualify for free electronic tax filing. If your 2006 adjusted gross income was $52,000 or less, check the IRS web site for more information.
• Use tax preparation software. It’s quicker and less prone to errors. It can even save you money. Matt recently told me about an experiment he conducted: he prepared his own taxes with software, took them to a small-town CPA, and also had them done by a big-name firm. Though the big-name firm had the best results, the tax software was a close second.
• Check your work. The IRS doesn’t like a sloppy return. (Accidental errors are the top reason for tax audits.) Make sure your numbers are correct. Include your social security number. Attach all retired paperwork. Sign your return! Note that this is another reason to file an electronic return — computers help to catch bonehead errors.
• Beware of audit flags. Take deductions you can substantiate, but don’t stretch the truth. Don’t be tempted to cut corners. Your best defense against an audit is to be honest.
• If you can’t pay, don’t panic. The worst thing you can do is nothing at all. The IRS offers several payment options. In January, CPA Brian Brown told GRS readers what to do if you can’t pay your taxes.

Getting the Message Out

How is that what makes something fun can also make it stressful?  Such is the bi-polar existence I have begun to live since I decided to leave the big corporate job and 'run my own nice little business'.  I enjoy learning new things and investigating opportunities and resources BUT the frustration that come along with that can reach high levels some days!  I think you understand.  I've invented, patented, found manufacturer and am currently marketing the TwiddleMuff.  Perhaps you've heard of it?  Not likely but I hope one day that it's as common as Beanie Babies although the target audience is the other end of the life cycle.  The TwiddleMuff (and its variations) is a therapeutic, hand warming, gadget laden product to give the frail elderly comfort and activity.  There is lots of description and photos at the website:  http://www.beaulily.com and I invite you to have a look and give me any feedback you'd care to.  Meanwhile, I'm learning through Ladies Who Launch that the best way to move product is through free editoral.  So, while FREE is great...it's a lot more effort to find and persuade editors that they should highlight your product in their magazine or newspaper.  Taking out an ad is quicker but without the returns.  Is that what other people are finding?  I'd be glad to share with you what works and what doesn't as I move my business forward and work to get TwiddleMuffs into the hands of all the elderly that would appreciate them.