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Feb 27 2010

5 Overlooked Tax Breaks and Deductions

Category: Best of | new list | top 10 listsThe List Ninja @ 20:44

Taxes & Death, well you know how it goes.  Time to start putting together all of your deductions for the past year and get ready for the tax man.  We have put together a list of a few tax deductions that are either new or sometimes forgotten about.  Check this list to see if you qualify.

·         American Opportunity Credit - Can be claimed for 2009 or 2010 college tuition, text books and even computers.

·         Residential Energy Property Credit - Incentives provided to homeowners who make energy-efficient upgrades to their homes.

·         Making Work Pay Credit - The Tax Policy Center estimates that 75% of all taxpayers filing their returns this year will benefit from the credit.

·         Homebuyer Credit - $8,000 in credit only if you bought your first house in 2009, the law has been expanded to include any new homes purchased by April 30, 2010.

·         New Car Credit - Deduct state and local taxes paid on new vehicles bought from Feb. 17, 2009 through the end of last year.

If you are looking to file online, here is a list of the Best Online Tax Services so that you find every deduction. 

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