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 mayRead more.
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 withoutRead more.
New mortgage interest break
The tax law permits generous deductions for mortgage interest paid in connection with “acquisition debt” and “home equity debt” ofRead more.
Simplified Employee Pension Plan
What is a SEP? A SEP is a simplified employee pension plan. A SEP plan provides employers with a simplifiedRead more.
Residential Energy Credits
2009 Nonbusiness energy property credit. This credit, which expired after 2007, has been reinstated. You may be able to claimRead more.
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 theRead more.
Economic Recovery Payment
Any economic recovery payment you receive during 2009 is not taxable. These $250 payments are being made to most peopleRead more.
Earned Income Credit – 2009 Changes
The following paragraphs explain the changes to the credit for 2009. Amount of credit increased. The maximum amount of theRead more.