Watch Your Wallet, July 2009, Volume 2009, No. 7
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Tax Tips
The American Recovery and Reinvestment Act of 2009 provides a deduction for state and local sales and excise taxes paid on the purchase of new cars, light trucks, motor homes and motorcycles through 2009.
With the 2009 energy efficiency tax credits, you may be able to reduce the cost of certain home improvements.
Many parents are looking at ways to save for college. In 2000, Section 529 plans, also known as Qualified Tuition Programs (QTP) became a popular college savings vehicle for parents. Every state now has a program allowing persons to prepay for future higher education, with tax relief.
A Coverdell Education Savings Account is an account created as an incentive to help parents and students save for education expenses.
Why and when do you have to pay estimated taxes?
If you use a portion of your home for business purposes, you may be able to take a home office deduction whether you are self-employed or an employee.
Quickbooks
From time to time you may encounter an infrequent transaction that will stop you in your tracks. Here are several common tricky transactions along with advice on how to handle them.
