2010 Tax Season

Welcome to my blog.  Most of my discussions will be tax related as that's my line of work.  However, I will from time to time discuss other issues that I find it necessary to voice my opinion about.

Well the 2010 tax season is upon us and it time to pay the piper or hopefully get paid.  There were several changes in the tax laws that will affect preparation of the 2009 income tax return.  First, for those that received unemployment benefits for 2009, you can now exclude up to $2400 in benefits from your income irregardless of total income.  Next, there's the Schedule L used by certain filers to claim standards deductions beyond the basic deduction, which include real property tax deduction and motor-vehicle sales tax deduction.   Then there's the Making Work Pay Credit and the additional qualifying child for the Earned Income Tax Credit (EITC). 

I'm really excited about this coming tax season and I'm ready to get started.  Please note that the IRS will begin accepting e-files on January 15, 2010.  Also, for e-files transmitted and accepted between January 15 - 21, refunds will be direct deposited  on January 29, 2010 or paper check mailed on February 5, 2010.


Get your documents organized and make preparing your taxes and lot less taxing.

 

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