Taxes

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Dayton Would Devote Half Of Surplus To Tax Breaks

Gov. Mark Dayton is proposing to use half of Minnesota’s projected $1.2 billion surplus to cut taxes, with another big chunk going to fill reserve accounts. Dayton outlined his supplemental budget plan Thursday, the day the House was planning to vote on a slightly smaller tax bill.

03/06/2014

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Quick-Moving Tax Bill Put To Minnesota House Vote

Barely a week into the legislative session, a $500 million package of tax cuts and repeals is being put to a vote in the Minnesota House. The Legislature is racing to undo some business sales taxes adopted last year, including one on warehousing services that will kick in April 1.

03/06/2014

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Minn. Same-Sex Married Couples Ponder Tax-Filing Method

The push to get same sex marriage adopted in Minnesota was an emotional one, but now those couples are wrestling with the financial implications.

03/04/2014

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Five Tips for Getting the Most From Your 401(k) Plan

Whether you’re 25 or 55, you know you’ll want to retire one day – and to retire in comfort you must save. These five simple steps can help you make a big difference in your efforts to reach retirement with lots of money in your retirement account.

03/03/2014

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Tax Tips For Retirees

With careful planning, you may find yourself paying the IRS much less than you have in years past.

03/03/2014

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Newlywed? Whether To File Separately Or Jointly

Newlyweds are often confused about the best type of filing for their particular situation as well as the legalities involved. If you want to enjoy the lowest tax rate possible, you’ll need to do your homework, starting with these considerations.

03/03/2014

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Should You E-File Or See A Tax Specialist For Your Returns?

When it comes to figuring your taxes, should you rely on software or turn to a pro?

03/03/2014

Electronic Tax Filing

Best E-Filing Programs For Tax Returns

Forget the stress of tax season by using one of these e-filing programs.

03/03/2014

Taxes

5 Tips For Doing Your Own Taxes

Save money — and maximize your refund — with these tips for doing your taxes all on you own.

03/03/2014

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5 Tax-Deductible Items You May Have Missed

Who doesn’t want to save a little (or a lot of) extra money at tax time? Claiming all the deductions for which you are eligible can significantly reduce your tax bill.

03/03/2014

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State’s Property Taxes Mostly Static After Refunds

Minnesota property taxes owed this year are mostly static once refunds and credits are factored in, state officials said Friday, despite their earlier prediction that those taxes would drop considerably. A Department of Revenue analysis shows a net $8 million drop in a property tax system that generates $8 billion a year.

02/28/2014

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Surplus Pleases DFL, But Different Priorities Show

Democrats who control Minnesota’s House and Senate agree a $1.2 billion surplus is likely to make for an easier legislative session, but there’s not agreement yet on how much to spend, save or rebate to taxpayers. House Speaker Paul Thissen says he wants to move quickly on more than $500 million in tax relief.

02/28/2014

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Lawmakers Mull Padding Reserve With Budget Surplus

A tantalizing Minnesota budget surplus has stirred talk of tax cuts or funding bumps for prized programs and infrastructure upgrades, but a less-flashy option also has gained some currency: saving some to prepare for the next economic downturn.

02/27/2014

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Dayton Pushes Mid-March Deadline For Tax Votes

Gov. Mark Dayton is urging final action by mid-March on a package of tax breaks and the repeal of some recently adopted business taxes.

02/25/2014

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Wayzata To Vote On School District Upgrades

Voters in Wayzata, Minn. are going to the polls Tuesday to deciding if they should expand the high school, build an elementary school and upgrade safety, security and technology districtwide. The district believes a bigger high school is needed because so many people have moved to the Wayzata area.

02/25/2014

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Good Question: Who’s Looking At Our Taxes?

Every year, the IRS receives 240 million tax returns. The Minnesota Department of Revenue processes 2.7 million returns. On Friday, WCCO viewer Brian from Shakopee was surprised when both the state and federal governments approved his filing within hours. He has a Good Question for us: Does an actual person actually read over tax forms, or does a computer program scan it for errors? According to Terri Steenblock, the assistant commissioner of individual taxes with the Minnesota Department Revenue, the answer can be both.

02/24/2014

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NFL Wants Tax Breaks For Minneapolis Super Bowl Bid

Minnesota taxpayers might have thought the Vikings stadium debate was behind them, but there may be another controversy brewing.

02/20/2014

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Minn. Tax Preparer Faces 28 Tax-Related Felonies

A 64-year-old Minnetonka man has been accused of stealing clients’ refund money while working as a tax preparer, the Minnesota Department of Revenue announced Wednesday.

02/12/2014

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Should You File Your Own Taxes?

We are just a few days into tax filing season. Though most people probably haven’t gotten their taxes done quite yet, WCCO took look into answering one of the most common questions. Tax season was delayed a few weeks, but the deadline is still April 15.

02/04/2014

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Minn. Tax Agency Halts Move To Debit Cards For Now

The Minnesota Department of Revenue is choosing paper over plastic when it comes to tax refunds. The state tax agency confirmed Wednesday it is delaying a conversion from paper refund checks to preloaded debit cards for now.

01/29/2014

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Good Question: How Is Food Tax Decided?

Right now, Papa Murphy’s is fighting a push to tax its take-and-bake pizza. The pizza is not considered “prepared” food, so it’s exempt. Looking at your grocery receipt to see what’s taxed often doesn’t make a whole lot of sense. So how is food tax decided? Heather Brown takes a close look at this Good Question.

01/21/2014

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State Surpluses Spark Debate On Tax Cuts, Spending

As they open their legislative sessions, politicians in many states are facing a pleasant election-year challenge: What to do with all the extra money? A slow but steady economic recovery is generating more tax revenue than many states had anticipated.

01/17/2014

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Minn. Lawmakers Give Taste Of 2014 Session Bills

Lawmakers itching to get their proposals in the pipeline have filed them ahead of the 2014 session.

01/13/2014

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Don’t Neglect End-Of-Year Tax Write Offs

In the midst of the holidays, taxes are likely the last thing on the minds of most people. But maybe they shouldn’t be. From selling a car to buying energy efficient windows, there are ways to get money back before 2013 comes to an end. And there may be a few extra tax deductions that most people don’t even know about, according to Jeff Bergerson of Bergerson Tax Services in St. Paul. The Energy Efficient Credit is a major one.

12/23/2013

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