| Recently Federal Government has announced a | | | | like un-reimbursed employee expenses & tax |
| reminder for all tax payers to file their Federal Tax | | | | preparation fees are deductible only by the amount |
| returns & pay the taxes they owe by the | | | | that exceeds 2% of your adjusted gross income. |
| deadline of April 15, 2009. Filing your tax returns and | | | | · This 2% also includes other entries like AGI |
| paying them up in time really saves your hard earned | | | | threshold, union dues, legal fees, safe deposit box fees, |
| money. Beside tax returns filing, you can claim many | | | | etc. |
| tax deductions in order to lower your taxes. The wise | | | | Using your home to lower your tax burden |
| thing would be to research well about the IRS | | | | You can claim the tax deductions on the basis of your |
| deductions before filing your return. | | | | mortgage payments. You must itemize it in your |
| Some of these are mentioned below : | | | | financial statements and that amount would enjoy a |
| Paying you tax with a debit or credit card | | | | proper deduction. |
| In case you make this payment through the debit or | | | | Tax Credits |
| credit card, you are eligible for an IRS deduction. The | | | | The tax credits in the year 2009 under the Stimulus |
| processors' charges of the payments made would be | | | | Package do have to be paid back. You might make |
| your deduction. They would be reduced as a | | | | use of these to save your money. Check the credits |
| miscellaneous expense. This would not lower your | | | | you are eligible for. For instance, the first time home |
| taxes so easily. | | | | buyers can enjoy benefit from $ 7500 to $ 8000. |
| The mandatory rules on this are as follows: | | | | The best way to claim your tax deductions and lower |
| · You must itemize it. | | | | your taxes is to consult a qualified professional. They |
| · The value of the miscellaneous deductions | | | | would give you very essential & updated tips and |
| including your credit card fees & the other items | | | | shall guide you properly. |