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List of 2009 Tax Deductions and Credits

Mammoth list of tax deductions, old and new. Each section includes links to the relevant IRS page(s) for more detailed information. read more »
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$8,000 Homebuyer Credit extended - $6,500 Credit introduced

President Barak Obama will sign a measure today that will extend unemployment benefits and the $8,000 first time home buyer credits, and will also in[...] read more »
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11 Most Commonly Missed Tax Deductions

Don't overpay taxes by overlooking tax credits and deductions. See the most common errors taxpayers make on their tax returns so you don't make the[...] read more »
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Tax Brackets Explained

Since our tax brackets may change soon, I decided that I should explain tax brackets. I wanted to know how our tax liability will be affected. read more »
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Understanding Financial Hardship for Taxpayer Relief

Taxpayer relief due to financial hardship will be considered when collection of an account has been suspended because of a taxpayer’s inability to pa[...] read more »
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Are Taxes In Canada Really That High?

Taxes in Canada have been reported as increasing faster than other expenditures, but tax rates may actually be decreasing. read more »
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401(k) Retirement Plans

Everything about 401(k) retirement plans! Benefits, details and more! read more »
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2010 Tax Credits For Energy Efficient Home Improvements Like Insulation, Windows, Doors, Heaters, Stoves, Solar Panels

Congress has extended tax credits for energy efficient home improvements through December 31st of 2010. You can now get credits to upgrade your water[...] read more »
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Own a Business? Don’t Forget these Tax Deductions

As the year draws to a close, it’s time to think about the best ways to reduce your tax liability. If you own a business, you have quite a few option[...] read more »
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Suppose that Every Day Ten Men Go Out For A Beer

Suppose that every day ten men go out for a beer and the total bill for all 10 comes to $100. If they paid their bill the way we pay our taxes, it w[...] read more »
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Retirement Planning using gross incomes can be misleading

All retirement planning should be done after tax because you can't spend your gross income. You can only spend your net. read more »
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How is America's Income Tax Burden Weighted?

Here, we analyze data from the Tax Foundation in detail – who pays the most, who pays the least, and how the progressive nature of American income ta[...] read more »
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How Much Is The Social Security Tax?

The Social Security program is funded by the social security tax that is paid by working Americans and their employers pay. How much is this tax? read more »
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Put Your Tax Refund to Work for you

Does the idea of a tax refund or stimulus cash have you dreaming of sunny beaches and shiny big-screen TVs? read more »
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First-Time Homebuyer Credit must be filed on Paper (Form 5405)

Use IRS form 5405 instructions to determine your eligibility for the homebuyer tax credit and be aware that if filing form 5405, you cannot eFile you[...] read more »
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