There's good news ahead for most taxpayers. President Obama signed the American Recovery and Reinvestment Act into law Feb. 17 -- a new economic stimulus bill that gives tax breaks to a large portion of Americans of all ages and income levels, as well as to businesses.
The...
created by frankie1266 | 37 wks ago | updated 37 wks ago 8596 views | 4 recommendations | 15 comments
If you have children who are under 17 as of the end of the tax year, you can get a $1,000 tax credit per child on your tax return.
Because this is a credit, not a deduction, you get to take those dollars right off your tax bill. That makes this much better than a deduction...
created by frankie1266 | 42 wks ago | updated 6 days ago 5544 views | 0 recommendations | 0 comments
Barack Obama has proposed a new economic stimulus package. Part of this stimulus package is to raise taxes on the wealthy in order to lower taxes on the middle class. The plan outlines an increase in taxes for couples who earn more than $250,000.00 per year and an...
created by frankie1266 | 48 wks ago | updated 48 wks ago 1690 views | 2 recommendations | 1 comment
There are so many questions about the 2009 economic stimulus check package. Here are some of the details that will help you to gain a better understanding of the facts. First of all you have to know if you received a stimulus check last year.
If you did receive a stimulus...
created by frankie1266 | 49 wks ago | updated 37 wks ago 934541 views | 132 recommendations | 447 comments
You can deduct any expense you pay for the prevention, diagnosis, or medical treatment of physical or mental illness, and any amounts you pay to treat or modify any part or function of the body for health, but not for cosmetic purposes.
(So you can deduct the cost of Lasik...
created by frankie1266 | 1 year ago | updated 6 days ago 31986 views | 10 recommendations | 2 comments
You may know that because the IRS provides a standard mileage rate for the deduction of vehicle expenses used in your business, you are allowed to choose between this rate and the actual expenses you incur in calculating this deduction.
Because the mileage rate includes...
created by frankie1266 | 1 year ago | updated 6 days ago 1982 views | 0 recommendations | 0 comments
Tax Refund Estimator - How much will your tax refund be this year?
Changes in your life—like a salary or job change, new house or car, or additions to your family—might affect your refund. This tax calculator helps you determine how much you are likely to...
created by frankie1266 | 1 year ago | updated 30 wks ago 7862 views | 1 recommendation | 0 comments