2009 Tax Credits That Will Save You Money
2009 Tax Credits #1
The first time homeowners credit is one of the most popular 2009 tax credits. The maximum credit available is $8,000. Those who purchase a home before December 1, 2009 are eligible for a refundable credit in the amount of $8,000. The actual 2009 tax credit received for the first time homeowners credit is 10% of the purchase price of the home up to $8,000.
2009 Tax Credits #2
There are several energy tax credits available during the 2009 tax year. From a hybrid car tax credit to various 2009 credits for green energy improvements made to your home, you could save thousands of dollars of your 2009 tax bill by going green.
2009 Tax Credits #3
New educational tax credits are available in 2009 to help cover the cost of tuition, room, and board. The maximum 2009 tax credit for education is $2,500 of which 40% is refundable. A refundable credit allows you to receive money from the IRS regardless of your overall tax bill. A non-refundable tax credit only reduces the amount of taxes you have to pay.
2009 Tax Credits #4
The Making Work Pay tax credit may mean that you will receive an additional $400-$800 credit off your 2009 and 2010 tax returns. This tax credit also works by reducing the amount of taxes that you pay through your payroll deductions by $8 or so every week.
2009 Tax Credits #5
Those who receive Social Security benefits could see a $250 payment in their bank account. This $250 one-time payment is also available to certain railroad retirees and VA disability recipients.
There are several ways that you can save thousands of dollars of your 2009 tax bill. 2009 tax credits are available to pay for education and home improvement projects.
Resources:
http://www.thenewsenterprise.com/cgi-bin/c2.cgi?053+article+News.Local+20090815213231053053025
Published by Meg G.
Meg G. is a financial professional. During her previous life, she ran a contracting business with her husband. Now, she likes to share late breaking news, financial advice, and do-it-yourself tips with her d... View profile
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4 Comments
Post a Commentmy son pays my rent in a senior living (HUD) can he deduct anything?
I received the first time homeowners credit on my 2008 taxes. Came in handy!
:0)
Oh, I just noticed your cartoonature or wahtever they call it. Great Meg.