New homebuyer credit rules
The “first-time homebuyer credit” isn’t just for first-time homebuyers anymore. Thanks to a new tax law change, longtime homeowners may
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Double tax benefit for NOLs
The new “Worker, Homeownership and Business Assistance Act of 2009” extends and expands the tax break for net operating losses
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IRS raises per diems for 2010
Keeping detailed records of employee travel expenses is a hassle. But there’s a way your business can simplify matters without
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New mortgage interest break
The tax law permits generous deductions for mortgage interest paid in connection with “acquisition debt” and “home equity debt” of
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Simplified Employee Pension Plan
What is a SEP? A SEP is a simplified employee pension plan. A SEP plan provides employers with a simplified
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Residential Energy Credits
2009 Nonbusiness energy property credit. This credit, which expired after 2007, has been reinstated. You may be able to claim
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Income Averaging for Farmers and Fisherman
Exxon Valdez litigation. If you received qualified settlement income made up of interest and punitive damages in connection with the
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Economic Recovery Payment
Any economic recovery payment you receive during 2009 is not taxable. These $250 payments are being made to most people
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Earned Income Credit – 2009 Changes
The following paragraphs explain the changes to the credit for 2009. Amount of credit increased. The maximum amount of the
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