Thanks, Mitt and Newt: 12 Tax Tips for the Rest of Us

Mitt Romney and NewtBy Kevin McCormally, Editorial Director, Kiplinger.com

While the punditocracy dives into the details and debates the vices and virtues of Mitt Romney’s and Newt Gingrich’s 2010 tax returns, we decided to see if we could glean any ideas that might help you with your taxes … and maybe even save you some money.

We found a gold mine for ordinary folks who’ll never need a Swiss bank account or have to file forms like the Form 926 “Return by a U.S. Transferor of Property to a Foreign Corporation” or Schedule M of Form 5471 “Transactions Between Controlled Foreign Corporation and Shareholders or Other Related Persons” that were attached to Romney’s return.

More from Kiplinger:

• Nation’s Tax Burden?

• How Much Would a Payroll Tax Increase Cost You?

• Tax Breaks for the Middle Class


Click here


Tagged: alimony, assets, Banking in Switzerland, charity, Domino’s Pizza, Federal Insurance Contributions Act tax, Finance, insurance, Kiplinger, Local, losses, Medicare, Mitt Romney, mortgage, Newt Gingrich

Article source: http://www.dailyfinance.com/2012/01/27/thanks-mitt-and-newt-12-tax-tips-for-the-rest-of-us/

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