What an incredibly complex tax year for our household. Before 2009, we lived in an apartment, worked two jobs, and could only deduct student loan interest. But in 2009, we purchased a home, earned freelance income, and donated to charity. We were eligible to take the home office tax deduction and self employed tax deductions. [...]
Looking for unemployed tax deductions? You’re in luck, there are several tax deductions related to unemployment, job searching, or moving for a new job that will give you tax relief at a time when you probably need it most. Unemployment reached 10% in the United States for 2009, sending over 16 million people home without [...]
I just finished an amended tax return for a client this week. She originally efiled her tax return for free with H&R Block. However, a few weeks later she received some 1099s reporting interest she had forgotten about. In addition, she didn’t know that she was eligible to claim the American Opportunity education tax credit [...]
We pay lots of attention to income tax returns around here, but they’re not the only tax returns with a tax deadline on April 15th. If you made a significant gift during 2009, you will also need to file a gift tax return. Gift Tax Basics In 2009 and 2010, the first $13,000 you give [...]
Most of us watched as the horrible events unfolded after the earthquake hit Haiti on January 12th, 2010, eventually killing over 217,000 people. Financial aid began pouring into the ravaged country, totaling more than $625 million at the writing of this article. However, much more is going to be needed to bring a country that [...]
