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american recovery and reinvestment act

7 new tax laws that could save you money

February 12, 2010 by Kay Bell
with 270 views
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Welcome to prime tax-filing time. Tax forms (W-2s, 1099s and the like) have arrived and folks are ready to get their 1040s into the IRS so they can get their refunds. If you're among the 40 percent of taxpayers working on your return this month, here are some tax law changes that could help you maximize your refund. Or at least reduce... [read more]

The 12 Tax Tips of Christmas: #6 Watch out for AMT issues

December 19, 2009 by Kay Bell
with 166 views
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If you have to pay the alternative minimum tax, or AMT, you'll be singing the blues instead of the joyous tunes of the holiday season. In today's sixth verse of The 12 Tax Tips of Christmas, we look at just what this dreaded and costly parallel tax is and how you can find out if you might face it. The AMT is a separately figured tax... [read more]

Road ending for auto deduction

November 8, 2009 by Kay Bell
with 115 views
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Lost in all the hoopla about the just-extended first-time home buyer tax credit is the fact that the clock is ticking down on another stimulus-created tax break. In addition to tweaking the home buyer credit, the American Recovery and Reinvestment Act included a deduction for state and local sales and excise taxes paid when you buy a... [read more]

Schedule M, yet another new form

August 31, 2009 by Kay Bell
with 684 views
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The tax alphabet is sure filling up. Earlier this month, I blogged about the new Schedule L that some taxpayers will have to file with their 2009 returns next year.Let me now introduce you to Schedule M. As the Schedule M snippet above indicates, it's related to the Making Work Pay credit that was part of the American Recovery and... [read more]

Obama budget basics

February 28, 2009 by Kay Bell
with 148 views
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What is "is"? We all remember how that one little word caused so many problems for a former president.But today my initial question also highlights how personal perspectives shape our definitions of everything.Take, for example, the definition of wealthy. In reviewing Barack Obama's first national budget as president, we all are asking... [read more]

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