2008 Changes The amount you can deduct for each exemption has increased to $3,500 for 2008. You lose part ofRead more.
New Rules for Children of Divorced or Separated Parents
Revocation of release of claim to an exemption. For tax years beginning after July 2, 2008 (the 2009 calendar yearRead more.
Increase in Limit on Long-Term Care and Accelerated Death Benefits Exclusion
2009 The limit on the exclusion for payments made on a per diem or other periodic basis under a long-termRead more.
Home/Residence-Related Tax Changes
Discharge of Qualified Principal Residence Indebtedness The Emergency Economic Stabilization Act of 2008 extended the exclusion from gross income forRead more.
Health/Medical-Related Tax Changes
Archer Medical Savings Accounts (MSAs) 2010 Changes For Archer MSA purposes for 2010, the minimum annual deductible of a highRead more.
Education-Related Tax Changes
Student Loan Interest Deduction 2009 For 2009, the amount of the student loan interest deduction is phased out (gradually reduced)Read more.
Decreased Estimated Tax Payments for Qualified Individuals With Small Businesses
For 2009, qualified individuals with small businesses may be eligible to make smaller estimated tax payments. If you qualify, yourRead more.
Child-Related Tax Changes
Adoption Benefits Increased For 2009, the maximum adoption credit has increased to $12,150. Also, the maximum exclusion from income forRead more.
Alternative Minimum Tax (AMT) – 2009 Changes
The following changes to the AMT went into effect for 2009: AMT exemption amount increased. The AMT exemption amount hasRead more.