2009 has been a rough year for many people. Aside from getting professional tax help from a tax attorney or CPA, you can also learn how you can take advantage of available tax incentives in order to save money.  Below are some experiences from a taxpayer who wanted to emphasize the benefits of year-end tax planning in maximizing the many Tax Code provisions designed to help ease the impact of
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For people who are planning to purchase a home for the first time in the near future, you can still qualify to receive the First-Time Homebuyer Credit if you finalize your purchase by May 1st, 2010. The initial FTHBC was due to expire after November 30, 2009 but has now been extended for another six months.
First-time homebuyers should take advantage of the monetary benefits of this credit by meeting the
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The current gloomy economy has put many ordinary law-abiding taxpayers in IRS trouble for unpaid taxes.
In response to this dire situation, Congress has been working steadfast to create a number of tax breaks for Americans who are struggling to make ends meet. In Feburary of 2009, Congress passed the Economic Recovery and Reinvestment Act of 2009. The nearly $800 billion economic stimulus package offers significant tax incentives.
However, due to the
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Many people may qualify for a significant reduction in their tax burden if they qualify for an educational tax break from the IRS. While there are tax benefits available for college and other post-secondary expenses, trying to figure out if and how your qualify for the various benefits can be confusing.
It can be difficult to determine which breaks you are eligible for and what will produce the greatest benefit. When
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The American Recovery and Reinvestment Act includes approximately $300 billion of net tax cuts. The new stimulus act includes tax provisions that may impact you and your small business. You will want to familiarize yourself with the plan’s new tax relief provisions.
Several key tax provisions include:

New 5-year net operating loss (NOL) carryback rule.
Deferral of certain income from the discharge of indebtedness
Extension of the existing bonus depreciation rules, which allows businesses
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The federal economic-stimulus packaged includes tax provisions focused on cutting marginal tax rates and expanding tax incentives.  While the new tax agenda increases taxes on upper-income Americans, it also includes plenty of tax cuts.

To fund deficit-reduction and other federal projects, the new stimulus law would increase a range of taxes - which falls in line with President Obama’s pledge to cut taxes for the middle class while allowing tax cuts
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I recently appeared on the KVEC Morning New as a guest tax expert to share some insider advice for filing your 2008 taxes.
In addition to year end tax tips, deduction opportunities that help make the most of slow economy, and advice on taking advantage of extended tax breaks,  I talked about how the IRS will continue to aggressively pursue tax cheats at every level in 2009.
Tracking down the non-filers, tax
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Last week I appeared as a guest tax expert on New Mexico’s KSVP with Mike Jaxson. We talked about important year-end tax tips for reducing your IRS tax bill.
Check out the videos below to find out more about:

Self-employment deductions including business vehicles, equipment and furniture expenses
Tips on accelerating deductions, like paying your 2009 property taxes and estimated tax payments before the end of the year so you can take those
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Start getting your 2008 taxes ready now with these year-end tax tips! Don’t wait till April to start thinking about your taxes. With the sluggish economy, you have to get started on trimming your taxes now, before the end of the year!
For 2008, savvy income and deduction management can help taxpayers make the most of a bad year. Knowing your rights as a taxpayer and how to avoid filing penalties
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A recent article on MSN talks about how The Emergency Economic Stabilization Act of 2008 includes several tax breaks that could help you. Sure, the $700 billion measure is directed at rescuing the nation’s devastated financial system, but it may also offer a little help to the average American.
Many of the provisions extend, as expected, tax breaks that had expired at the end of 2007. Others provide disaster relief, primarily
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