As you may recall, the US Government passed a landmark Housing Bill back in July that was intended to help prevent hundreds of thousands of families from losing their homes. Part of the package includes a $7500 tax credit for first-time home buyers that purchase a home between April 9th, 2008 and July 1st, 2009.
There is now a website up: FederalHousingTaxCredit.com, that provides additional information on the credit.
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GoogleFor many Americans, taxes of various forms (Federal, State, Sale, etc.) represent their largest expense on an annualized basis. So it always gets my attention when someone makes noise about making significant changes to the tax code.
(Read More...)As of July 1st, the IRS will increase the mileage rates for business purposes from 50.5 cents to 58.5 cents per mile. In addition, mileage rates for medical or moving are going up from 19 to 27 cents.
(via Don't Mess With Taxes)
