As part of The American Recovery and Reinvestment Act there were quite a few incentives included for the purchase and retrofitting of electric and hybrid vehicles. If you’ve been thinking about buying a hybrid, electric vehicle, or even retrofitting an older car, the time may be right since tax credits are now available for you. […]
2010 Federal Income Tax Brackets: Official IRS Marginal Tax Rates
Two things are sure in life, death and taxes. Tax season is coming up again, and if you’re not dead – you’ll be paying taxes! The 2010 tax rates have been released by the IRS, so if you’re concerned about what marginal tax rate you’ll fall into in the coming year, you can now check […]
Get Organized For Filing Your Taxes
Guess what? The tax season is right around the corner. For many people, thinking about taxes can cause some anxiety. Will I or will I not have a refund? What’s a W-2 and when do I get it? What do I do with all those papers I receive in the mail? Tax season really doesn’t […]
Important Tax Rules For The Self Employed: Payments Are Coming Due!
The IRS defines a self employed person as one who: Carries on a trade or business as a sole proprietor Is an independent contractor Is a member of a partnership, or Is in business for yourself in any other way General Tax Considerations For The Self Employed If you earned $400 as a self employed […]
2009 Federal Income Tax Brackets: Official IRS Marginal Tax Rates
This past week I’ve been getting all of my tax information together to make my final estimated tax payment for the one that’s due on January 15th. One thing I’ve realized during that time is that sometimes the tax information isn’t all that easy to find when you’re searching the IRS site. For example, if […]
10 Year End Tax Deductions And Credits That You Can Claim In 2009
It’s the last week of the year, and it’s your last chance to take advantage of some last-minute tax deductions for 2009. If you’re anything like me, you’ll want to make sure that you do anything you can to lower your tax bill this year. 10 Tax Credits And Tax Deductions Increase your retirement account […]
2010 Home Improvement Tax Credits For Energy Efficient Products (Insulation, Windows, Heaters, Etc)
Congress has extended energy efficiency tax credits for most homeowners through the end of 2010, so if you’ve been looking to upgrade your water heater or windows and doors, you can probably still get a tax credit in the coming year. Some less common of the tax credits for home improvements will be around all […]
Tax Considerations For Ministers
Since church ministers are in a unique tax situation it is important for all ministers to understand their unique tax situation. When you work and earn an income you will need to pay taxes. We should pay unto Caesar what belongs to Caesar, but if Caesar is offering you a tax break you should be […]
Democrats Hope To Pass A Second U.S. Stimulus Bill By Early 2010
Fresh off of a $787 billion stimulus package passed in February of 2009, congressional Democrats are now beginning to talk about passing a second, more modest stimulus package sometime within the next few months – aimed at easing the unemployment crisis. From Reuters: Congressional Democrats’ push for another U.S. stimulus package got a boost on […]
How To Save Hundreds Of Dollars On Your Tax Bill By Challenging Your Property Taxes
After reading on some other blogs how the bloggers had successfully challenged their property tax assessments, saving them hundreds of dollars every year, I decided that it was time that I give it it a shot as well. Our assessed property value last year was almost $20,000 higher than we thought that it should be, […]
$8000 First Time Homebuyer Tax Credit Extension: Take Advantage Of Incentives Through June 30th, 2010
The homebuyer tax credit closing deadline has been extended until September 30th, 2010 for those who were under contract by April 30th, 2010. Details here. If you’re a first time homebuyer and you thought that you might be out of time when it came to getting the $8000 refundable tax credit, think again! On Friday […]
$6500 Homebuyer Tax Credit For Current Homeowners Signed Into Law Today. Is It Retroactive?
Last week I wrote about how congress was attempting once again to pass an extension of the $8000 first time homebuyer tax credit. There had been several false starts to get an extension passed as the senate and congress weren’t able to agree on amounts of credits, whether to extend the credits at all, and […]
Senators Agree To Extend First Time Homebuyer Tax Credit And Allow Up To $6500 Tax Credit For Current Homeowners
For some time we’ve been talking about the first time homebuyers tax credit that was passed as a part of the 2009 Economic Stimulus Package. As we mentioned a short time ago, if you haven’t already put in a contract on a house and set up your closing for before November 30th, you most likely […]
Lawmakers Push For An Extension Of The $8000 First Time Homebuyers Tax Credit Into 2010 In Proposed Bill
Since earlier this year we’ve been talking a lot about the $8000 first time homebuyer tax credit that was passed as a part of the 2009 Economic Stimulus Package. The credit has been available for first time homebuyers since January 1st, and will continue to be available until November 30th. Now that the program is […]
