New September/October Tax Watch Now Available

Tax Foundation has released the newest version of their bimonthly tax policy newsletter, Tax Watch. The newsletter contains research and analysis on many current tax issues. Some of the featured articles include:

Paying for Public Schools: What's the Cost of Judicial Mandates?
U.S. Corporate Taxes Still Among World's Most Punitive
Fixing AMT without Raising Tax Rates
Study Finds Income Redistribution between Young, Middle-Age and Elderly

You can download the PDF of the newsletter for free by heading over to Tax Foundation.org, or if you are a member of the Tax Foundation you can request a hard copy version.

Help With W2 Forms

Associated Content has added an article with a detailed breakdown of the information on W2 forms. Included is a box by box breakdown of what appears in every box on W2 forms and how it pertains to individual taxpayers. You can read the full article here.

Small Business Deductions

Do you own a small business? Nolo.com has compiled a list of the fourteen most important small business tax deductions, as well as another list of other easily overlooked deductions. You can check out the list by visiting Nolo.com.

IRS Introduces Sales Tax Calculator

Earlier today the Internal Revenue Service announced a new online tool to help individual taxpayers. The tool is an online calculator designed to help people who itemize to determine if they will benefit more from deducting their local sales tax or their state income tax. For those not wanting to use the calculator, the IRS also has an online worksheet you can use to calculate the amount. You check out the calculator by clicking here.