As we enter December this is typically a time of year-end planning to see if there are any last minute tax moves we still can take advantage of.
Well, all of you in the U.S., listen up. I’ve got a tip for you.
When you file your Federal income tax return next year for the 2006 tax year, make sure you take advantage of the Federal excise tax refund credit.
This is a tax credit that most American consumers and businesses will be entitled to take. It’s a refund in the form of a tax credit, to compensate us all for years of paying a Federal tax on long-distance phone bills — a tax we should not have had to pay in the first place. There is no need to do anything right now, other than perhaps assemble your telephone bills and make a mental note about the credit.
I wrote about this credit over at a blog I write for Facteon, a small business factoring company. Read: Take the Federal Excise Tax Refund Credit.
Anita, I’ve been out of the loop lately (long story) but this post needs to be read by all small business owners. Well done!! I posted a link on Soky.biz.
Hi David, good to hear from you. I was wondering what was happening on your end these days.
Yes, I thought this was a useful bit of advice for individuals and small businesses alike, in the United States, when I started reading about it.
It’s not big money, but like they say, every little bit counts. And not having the tax on our phone bills in the future will be nice, too.