End of Year Tax Tips

It's not too late to save on you 2009 taxes. Here's an artice from the New York Times regarding some end of the year tax moves.

Supreme Court Take Up a Texting Case

Very interesting to see how the Supreme Court shakes out one this one.



At issue in this case is whether there is a right to privacy in personal text messages sent/received on workplace devices (cell phones, PDAs, ect.). This case will provide an expanded explaination on Fourth Amendment right to privacy questions in the new digital age.

New Milage Rates for 2010 & Tax Guide to Save on 2009 Taxes

Beginning on Jan. 1, 2010, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

• 50 cents per mile for business miles driven,

• 16.5 cents per mile driven for medical or moving purposes, and

• 14 cents per mile driven in service of charitable organizations.



Publication 17, Your Federal Income Tax, features details on taking advantage of new tax-saving opportunities, such as the making work pay credit for most workers, American opportunity credit for parents and college students, energy credits for homeowners going green, first-time homebuyer credit, sales or excise tax deduction for new car buyers, and the expanded child tax credit and earned income tax credit for low- and moderate-income workers. This useful 308-page guide also provides more than 6,000 interactive links to help taxpayers quickly get answers to their questions.

First-Time Homebuyer Tax Credit Changes

Finally, they've opened up the homebuyer tax credit to folks other than just first-time homebuyers---in my opinion, this should have been done from the beginning.


The revised law allows individuals who have owned a primary residence for at least five of the previous eight years to qualify for a $6,500 tax credit (although there are income limits).


Click here for more details. Happy home buying!