2006 Taxes
Feb. 7th, 2007 10:08 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
bjarvisI've largely finished this year's US federal & Maryland state tax returns for myself and ![[livejournal.com profile]](https://www.dreamwidth.org/img/external/lj-userinfo.gif)
kent4str. For the most part, our returns are trivial as we've each been working for one employer the entire year and living in the same residence; the only complication comes from the business income & deductions related to square dance calling and even that was pretty easy thanks to QuickBooks and good record keeping. We'll both be getting healthy returns again this year, the bulk of which will pay down the equity line of credit.
The only surprise for was how little I gave to qualified charities this past year. While I do regularly shovel spare money and checks to worthy causes, not all are gov't registered 501(c)(3) organizations; even when they are, not all of them are in a format which allows for receipts and proof of donation (eg. passing the hat at an event). Of course, now that DC Diamond Circulate has its 501(c)(3) status for the 2009 IAGSDC convention, I'll likely send the bulk of my charity dollars there.
I've also been slack on obtaining matching funds from my employer for qualifying donations. Checking the matching funds history database, I found I had only submitted two requests all of last year. I've just finished making six more matching fund requests totalling $350, and may submit a couple more if I can find them in their 501(c)(3) database.
kent4str. For the most part, our returns are trivial as we've each been working for one employer the entire year and living in the same residence; the only complication comes from the business income & deductions related to square dance calling and even that was pretty easy thanks to QuickBooks and good record keeping. We'll both be getting healthy returns again this year, the bulk of which will pay down the equity line of credit.The only surprise for was how little I gave to qualified charities this past year. While I do regularly shovel spare money and checks to worthy causes, not all are gov't registered 501(c)(3) organizations; even when they are, not all of them are in a format which allows for receipts and proof of donation (eg. passing the hat at an event). Of course, now that DC Diamond Circulate has its 501(c)(3) status for the 2009 IAGSDC convention, I'll likely send the bulk of my charity dollars there.
I've also been slack on obtaining matching funds from my employer for qualifying donations. Checking the matching funds history database, I found I had only submitted two requests all of last year. I've just finished making six more matching fund requests totalling $350, and may submit a couple more if I can find them in their 501(c)(3) database.
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no subject
Date: 2007-02-07 08:23 pm (UTC)I'm amazed and impressed you got a 501(c)(3) status for your convention!
I have all my tax info put together, and it just needs a pluggin' into Turbo Tax. I have the same Schedule C issues as you, plus Schedule E for rentals split with my exe! Fun, fun, fun!
no subject
Date: 2007-02-07 08:39 pm (UTC)Both 2007 (Denver) and 2009 (DC) have 501(c)(3) status now... I haven't heard about Cleveland (2008) or Chicago (2010), but I'm hopeful. Being able to avoid local sales taxes will save a bundle, not to mention how much easier it will be to get corporate sponsorships and personal donations.