The IRS Deductions Blog

Archive for January, 2010

Items on Amazon Right Now for Standard Deduction 2009 Irs:

Economic incentives aid taxpayers

The deep recession that hung over the nation in 2009 has led to new tax credits and deductions _ attempts by Congress to boost consumer spending and get the economy moving again. These, along with increases in the standard deduction, personal exemption and… Tax – Tax credit – United States Congress – Standard deduction – Taxable income

Items on Amazon Right Now for Are Funeral Costs Deductible:

‘Walk for Warmth’ helps those in need

Raising $200,000 to celebrate the 20th anniversary of the “Walk for Warmth” is the goal of the Oakland Livingston Human Services Agency.

Eddy Reber Memorial House

Items on Amazon Right Now for Corporate Tax Deductible Interest:

Another developer floats a Cleveland aquarium plan

If it feels as if you’ve heard this story before, you probably have. Two other developers have pitched aquarium proposals over the last year, and no fewer than six have been floated through the North Coast over the past 20 years.

Question: I purchased a home in May, 2008. I am not a first time homebuyer. Is there any tax credit/deduction for me?

in particular, nothing in the stimulus package for new home purchases going back to May/08? the $7500 was for first time homebuyers only? I’d heard that was modified to any homebuyers.

Answer: You can deduct mortgage interest and real estate taxes if you itemize. If you don’t itemize, you can add your real estate tax up to a max of $500, or $1000 on a joint return, to your standard deduction.

Items on Amazon Right Now for Tax Deduction Home Purchase:

Life Changes Equal Tax Savings

KANSAS CITY, MO–(Marketwire – 01/20/10) – Life changes can mean tax savings. From the home-buyer credit to parenthood, to higher education and buying a new car, changes in the tax code affect the complexity of the 2010 tax filing season and could mean more money in taxpayers’ pockets. Overall, the changes help taxpayers in five key areas: 1. Buying a home 2. Workers 3. Parenthood 4. Higher …

Foreclosed Property: How to Buy Foreclosed Properties

Items on Amazon Right Now for Employee Gifts Deductible:

HCA Pledges $1 Million in Cash and Supplies to Haiti Relief Effort

HCA today announced it has committed to match employee contributions and provide in-kind donations for a $1 million total contribution. Â Cash donations will go to relief organizations including the Red Cross and Doctors Without Borders.