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20/20 Holiday Gift Guide for 2009
Still looking for that last minute holiday gift? Don’t worry 20/20 has done the research necessary for you to get those tax-themed gifts out the door.
1040 IRS toilet paper:
According to www.prankplace.com this product isn’t deductible, but it’ll sure make you feel better. A collage of the 1040 IRS Form is printed throughout the whole roll!
Set up a 529 account:
According to David McPherson of ABC News.com ,”Thinking about buying a savings bond for Junior’s college fund? I say forget it, and instead help fund a 529 college savings plan. U.S. savings bonds are more trouble than they’re worth with a long list of peculiar rules.
A 529 plan offers far more flexibility, including higher contribution limits and the ability to transfer account balances among family members. To learn more about 529 plans, check out Savingforcollege.com.
Stick The IRS! Board Game:
This Monopoly-style game can be found here. Enjoy the family fun watching players have a chance to receive “annual reports” that determine whether the tax shelter investment made them rich or, as in most “real life” shelters, turn out to be a bust.
Boost Your 401(k) Contribution Rate (A gift to yourself and your future):
According to Carla Fried of CBS MoneyWatch.com, “…contact H.R. or your plan administrator and boost your contribution rate by a percentage point. Or two. Or three. You know full well that you will not go off the deep end when your take-home pay takes a slight dip. So just do it. Now. No more excuses. How much is enough? Well, setting aside 10 percent of pre-tax income for retirement is good; 15 percent is ideal.”
We realize that some of these suggestions are gags, but owing back taxes is no laughing matter. If you or someone you know has back tax issues with any taxing authority, start 2010 on the right path. Give the gift of a financially secure road map to the future. Please contact 20/20 Tax Resolution today for a free consultation.
Happy Holidays to you all from us here at 20/20 Tax Resolution.
