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5 Excellent Tax Blogs And Websites

Information flows fast and free on the Internet. You can find advice on anything from stringing a tennis racket to pottery classes to square dancing. So why should taxes be any different?

Our advice: Approach the tax information you find on the web with a healthy dose of caution. Some of the numerous blogs and websites devoted to taxes are significantly better than others, and you shouldn’t assume that everything you read online is entirely accurate. It’s certainly advantageous to be well informed, but you should consult with a tax professional before implementing any sophisticated tax strategies.

With that caveat in mind, here is a brief review, in alphabetical order, of five reputable online resources of tax planning information.

1. Fairmark at http://fairmark.com. Fairmark touts itself as a “Tax Guide for Investors,” but it’s actually much more. This site includes blogs that can benefit a wide range of taxpayers. For instance, a recent posting, “Tax Provisions of the Recovery Act,” summarizes tax breaks in the 2009 economic stimulus law affecting both individuals and small business owners.

2. TaxHawk at http://www.taxhawk.com. In addition to providing free federal income tax filing services, TaxHawk offers add-ons such as professionally bound tax returns. It also features insightful articles such as “Seven Common Tax Mistakes” to help guide you through the tax return season.

3. TaxMama at http://taxmama.com. Does “Mama” know best? TaxMama (Eva Rosenberg) dispenses free advice with a mother’s loving touch and a sense of humor. She talks to you, not at you. Questions from readers are answered and blogs such as “Mind the pitfalls in claiming homebuyer tax break,” provide useful information.

4. TAXSites.com. at http://www.taxsites.com. TAXSites is a comprehensive online service accommodating both individual taxpayers and tax professionals. It is divided into three categories: Taxes, Accounting, and Payroll H/R. You can find information and links covering finances and investments, auditing procedures, and benefits administration.

5. UncleFed’s Tax Board at http://www.unclefed.com. UncleFed (not Uncle Sam) serves as a complete online source for tax relief. It provides quick links to IRS tax forms and instructions, offers practical solutions, and disseminates information about the latest developments in tax law and guidance.

Finally, don’t overlook the IRS itself as a resource. This is probably the most accurate site of all. Visit http://www.irs.gov for tax news, vital information, and updates.

 
Again, though educating yourself can help in the tax planning process, free Internet advice can’t replace professional advice. Don’t hesitate to contact us for assistance or referrals.
 

This article was written by a professional financial journalist for Legend Financial Advisors, Inc. and is not intended as legal or investment advice.




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