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Monday, January 11, 2010

Income tax changes for this year

by taxnick on January 11, 2010

There are several tax changes for this year that will benefit almost everyone who files a tax return. Here is a sampling of things that you should know:
· Sales Tax Deduction for New Vehicles – Sales tax on a new car is deductible, whether or not you itemize your deductions. For those who do not [...]

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Obama may use bank tax to recoup bailout

by taxnick on January 11, 2010

The White House is considering a tax on financial institutions to ensure that taxpayers who bailed out banks get paid back, a senior administration official said Monday.
The law that created the $700 billion Troubled Asset Relief Program empowered the president to ask Congress to recoup money if bailouts were not paid back in full.
TARP dictates [...]

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