Last Minute Tax Tips from Dunkin' Donuts

Dunkin’ Donuts Retail Coffee

Tax Day Survival Tips

With the tax-filing deadline approaching, don’t panic if you haven’t completed your return. Here are some Tax Day Survival tips to help you avoid stress and enjoy a “delicious” return.

1. Set aside some quality tax time. Brew a cup of Dunkin’ Donuts coffee at home, find the materials you need to prepare your taxes, and retire to a quiet spot to get started. You can complete your return manually on paper, with Free File, or commercial software. If you use a tax professional, make sure to gather all your materials before sitting down with him or her.


2. Consider an extension. If, for any reason, you can’t file your income tax return on time, simply request a filing extension by April 15th. This gives you six more months to complete your return and avoid late filing penalties. Use Form 4868, which you can get at IRS.gov. But you still must pay now what tax you’ll owe to avoid late payment penalties.

3. Check out new tax breaks for certain 2009 purchases. If you bought a home, you may qualify for a tax credit. If you bought a new car, you may be able to deduct the sales tax. Find details about these new breaks at IRS.gov.

4. File electronically. To get your tax refund as quickly as possible, file your income tax return electronically and request that the refund be deposited directly in your account. You can have the deposit split among two or three accounts, including bank accounts, IRAs, health savings accounts, Coverdell education savings accounts, and a TreasuryDirect® account for I bond purchases.

5. Adjust your tax withholding or estimated taxes. Is it bad to be owed a tax refund? It’s nice to have the extra cash now, but getting a refund means you’ve really made an interest-free loan to Uncle Sam. A better strategy is to adjust your tax withholding or estimated taxes for this year so you pay an amount that is closer to the amount of tax owed; this gives you the use of your own money throughout the year.

6. Contribute to your retirement fund. The tax year is over but it’s not too late to put money in a regular or Roth IRA for 2009. Assuming you’re eligible, a contribution to a traditional IRA made by April 15th is deductible on your 2009 return. If you opt for a Roth IRA contribution, you can’t deduct it but will build up tax-free income for retirement.

7. Reap eco-credits. If you added insulation, energy-efficient windows, or solar panels to your home, you not only reduced energy costs but also may now qualify for a tax credit. The credit limit for installing solar panels and other alternative energy additions is 30% of cost; for other improvements, there’s a $1,500 cap. The tax credit reduces your tax bill dollar for dollar.

8. The standard deduction isn’t standard anymore. If you don’t itemize, you may be able to bulk up your standard deduction by adding amounts for being a senior, paying property taxes on your home or sales tax on a car purchase, or for suffering a loss in a federal disaster. But you’ll have to complete a new form, Schedule L, to total up your standard deduction.

Barbara Weltman is an attorney, prolific author with such titles as J.K. Lasser’s Small Business Taxes, J.K. Lasser’s 1001 Deductions and Tax Breaks, and The Complete Idiot’s Guide to Starting a Home-Based Business, and trusted professional advocate for small businesses and entrepreneurs. She is also the publisher of Idea of the Day® and monthly e-newsletter Big Ideas for Small Business® at www.barbaraweltman.com and host of Build Your Business radio. Follow her on Twitter at BarbaraWeltman.

Sign up for a free sample of Dunkin' Donuts newest flavor Dunkin’ Turbo HERE
I just signed up for mine and I hope you will too!

$5 Amazon.com Giftcard from It's All Free Online Giveaway!

I love free samples. Signing up for them has been a hobby of mine for quite some time. My favorite free samples have been from Makers Mark. When I signed up for their Ambassador program, I received two really nice cups and some swizzle sticks. Every so often they will send me an invitation to an event. Last Christmas, I received a random package from the mailman. I had no clue what it was. I opened it and it was wrapping paper with little bottles of Maker's Mark in snow flake patterns. I thought it was really cool.

My friend Matt owns a website called It's All Free Online. You can find the best free samples on his website. There are new ones added all the time. You can find something for everyone. The website is really easy to navigate and is kept up to date. Check it out for all your Freebie needs.

Matt is such a generous guy that he wanted my help to hold a giveaway.

One (1) person will win a five dollar Amazon.com gift card which can be used on any purchase on Amazon.com They sell almost everything. You can either have the gift code emailed to you or Matt will send you an actual Amazon Gift Card in the Mail. I personally prefer the code cause you get it faster. But the choice is up to the winner!

Thanks to Its All Free Online for giving me the opportunity to share his website with you all and providing the Amazon Gift Card.

Mandatory Entry: Visit Its All Free Online and tell me a freebie you would like to get

You must do the mandatory entry for the bonus entries to count.

Bonus entries:
Subscribe to my blog via email

Follow my blog

Please become a Fan of Its All Free Online's Facebook page Please let me know what name it is under for verification purposes.

Tell me about your favorite Freebie you have received

Please remember to put your email address in your comments

This Giveaway will end November 24, 2009 at 11:59 pm ET