What is the Government Up to Now?
I just read an article on Bankrate that says the “Making Work Pay” credits you may have gotten via your paycheck may not be what they were purported to be.
In fact, it says you may owe some of that money back! The article recommends that you check out the new Schedule M in order to know what to expect. 
So… it looks like instead of doing you some small bit of good by letting you keep an extra $400 of your earned money this year, all they did was add some hassle to your life – and cause your tax preparer to charge you for an extra form to fill out.
Do read the Bankrate article – part of being successful in business is to take care of record-keeping so that you can get the most beneficial tax treatment. This article offers some useful tips for getting ready for tax season – so you don’t go into a panic and forget some good deductions at the last minute.
Posted: January 5th, 2010 under record keeping, taxes.
Tags: Internal Revenue Service, IRS, tax credits, taxes