Do You Have to File a Gift Tax Return?

Posted by Jill on February 24, 2010

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. Update: The 2016 annual gift tax exclusion is $14,000. Gift Tax Basics […]

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Special Tax Deduction for Haiti Donations Made in 2010

Posted by Amanda on February 23, 2010

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 […]

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Do You Have to Repay the Making Work Pay Tax Credit?

Posted by Jill on February 15, 2010

Running into making work pay tax credit problems? As you probably know, early this year congress enacted the Making Work Pay Credit as part of the stimulus package. The Making Work Pay Credit is valid in 2009 and 2010 and is worth 6.2% of earned income (up to $400) for each qualified individual. Companies were […]

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How to Take a Property Tax Deduction Without Itemizing

Posted by Amanda on February 10, 2010

Take your property tax deduction without itemizing. It’s another deduction you’ll want to claim on your 2009 tax return, as we continue our series on tax deductions. We recently reviewed the new car tax deduction. Home ownership can have some enticing tax benefits because you can itemize and deduct home expenditures–such as mortgage interest paid […]

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When is the 2010 Tax Deadline?

Posted by Madison on February 9, 2010

When is the 2010 tax deadline for your 2009 tax return? As a tax junkie, the date is etched in stone in my mind. However, I realize that not everyone knows when taxes are due. The 2010 tax deadline for your 2009 tax return is April 15, 2010. Tax Deadline Postmark Whether or not you […]

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How to Claim Your Home Buyer Tax Credit

Posted by Madison on February 2, 2010

Whether you are claiming the tax credit for existing homeowners or the tax credit for first time home buyers, it’s time to get your money! How to Claim your Home Buyer Tax Credit The IRS released the updated Form 5405 to claim your tax credit. Complete and attach Form 5405 to your 2009 tax return. […]

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The New Business Launch… Sort Of

Posted by Madison on January 28, 2010

I promised you would be the first to know when we launched the new business. I’ve been working around the clock for the last few months to get ready for the big reveal. I’m sure you figured it out by now; we started a new tax business. However, it’s not just any tax business. I’d […]

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New Car Tax Deduction

Posted by Amanda on January 20, 2010

Want to get a tax credit for your new car? If you bought a new vehicle last year, you may be able to take advantage of the following tax credits on your 2009 taxes: deducting the amount of state and local sales and excise tax paid. You can also take further tax deductions if you […]

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How to Donate Your Used Car

Posted by Amanda on

While the Cash for Clunkers program helped many people in the market for buying a car optimize their savings, many people were unable to take advantage of this program (like myself!) because their ‘clunker’ or used car had too good of gas mileage to be counted. Another downfall was the fact that it significantly dropped […]

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How Much Money Do You Have to Make to File Taxes in 2009?

Posted by Madison on January 18, 2010

How much money do you have to make to file taxes? That seems to be a popular question these days, especially for people that made less money last year due to the economy. 2009 Income Requirements For the 2009 tax year, you need to file taxes if your gross income meets the minimum income for […]

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