Angies List Coupon Code Referral

Angies List is celebrating their 15th year online and is offering a coupon code that can earn you some cash and save your friends some money as well.

If you’ve never heard of the service, a while back I wrote up an Angies List review and also list some angies list coupon codes you can use to get a discount on the service. I’m a member and actually used it not long ago when our dishwasher stopped working and flooded with water one night. The service helped me find a good local appliance place to get the dishwasher taken care of right away. I haven’t written about it on the site yet but I did tell some friends and co-workers about the incident.

Which brings me back to the anniversary deal that they’re offering. If you’re a member of the site, you can use their referral form (shown below) to tell your friends about this Angies List promotion.

If they sign up for Angies List with the coupon code CELEBRATE then they’ll save 15% off of their membership. You could just email them directly but if you use the referral form that I showed you above, you’ll also get $15 if they decide to become a member.

Angies List Referrals

I wouldn’t email everyone in your address book about it because most people probably wouldn’t care and might get irritated with you clogging up their inbox. I’d only use it if you have a few people you think might be interested.

For example, as I mentioned earlier, I talked about my recent dishwasher experience on Angies List with several friends and co-workers. A few of them sounded interested in seeing if there was a free trial or discount they could use to try it out for themselves.

Angies List Promotion

So to recap. If you’re a member you can earn $15 for each person you refer; the link is on the site under the “Member Resources” menu and is called “Invite a Friend”.

If you’re not a member and want to give it a try, you can get a discount with the angies list coupon code CELEBRATE. The promotion is only for a limited time, if the promo code has expired by the time you read this then check out the other angies list coupon codes.

Posted on February 27th, 2010 in Angies List | Comments Off on Angies List Coupon Code Referral

Written by Ben Edwards · Filed Under Angies List 

Online Tax Software Success

Online tax software is becoming more popular each year for people looking to file their federal income tax returns on their own.  Compete, a company that measures website visitors across the Internet, released a report this month that showed 11.5% more consumers visting the category of “Accountancy and Tax Service” sites than the previous year.

All three of the main online tax prep software sites saw more visitors than the year prior, with Tax ACT seeing a huge increase:

Of course, it’s no surprise that online tax software websites had a big increase in the number of visitors in January that’s when tax season starts nbsp;but the increase from previous years is what points to more people filing online. 

Traditional Tax Prep vs. Online Tax Filing

A recent Wall Street Journal article (trial subscription required) takes a look at how traditional tax prep companies are losing customers to online tax software.  While companies like Jackson Hewitt are suggesting that the bad economy has more people paying less to do their taxes themselves online; the tone of the article suggests that the shift to online tax filing is a long term trend that brick and mortar tax prep businesses should be concerned about.

Why Online Tax Software? 

So why are more people moving to online tax software vs desktop tax software or manually filing?  Here are a few things that come to mind.

Convenience – The first reason I can think of is that online filing is certainly more convienent than having to go to the store and buy tax software and then install it on your computer. All you have to do is open your browser and you can get started in just a minute or two.

Broadband – A few years ago this might not have been as feasible since more people had slower internet connections. Can you imagine trying to prepare your taxes using dial-up, I’d rather have my fingernails pulled out than have to sit through that frustration!

Promotion – Companies like Intuit and H&R Block are really emphasizing online tax filing.  For example, when I watched an episode of the show LOST on HULU a few weeks ago, H&R Block at Home was the exclusive advertiser for the program. I think the companie are also doing a good job of reaching out and interacting online.  For example, this interview I did with Intuit Vice President Bob Meighan about TurboTax online and also the presence of Intuit employees on social media sites.

Cost – I don’t know if this is the case but I imagine that offering the software online lowers the cost of delivering the product.  Of course, what the companies do with the cost savings is up to them but they could use it to help out and attract customers with things like the H&R Block at Home discount weekend.

If you do your own taxes, are you using online tax software? If not, what are some of the reasons?

Posted on February 25th, 2010 in Taxes | 4 Comments

Written by Ben Edwards · Filed Under Taxes 

No Debt Plan

Have you heard the saying, “If you fail to plan, then you should plan to fail”? Well how about making a “no debt plan” to keep yourself out of debt?  Well Kevin, of the blog No Debt Plan, is doing just that; sharing his tips for avoiding debt.

His site is setup to help people with basic financial education. As you can read on his about page, Kevin believes that the American education system doesn’t prepare students adequately for managing their money in the real world.  Kevin’s doing his part to fill in the gaps by sharing what he’s learned about money.  Some of the topics he covers are:

  • Budgeting
  • Saving for retirement or a rainy day
  • Avoiding living paycheck-to-paycheck
  • Buying a home

About Kevin

So what does Kevin know about money? Well, in addition to his life experience, he has a Bachelor’s Degree in Business Management and an MBA so he certainly knows how to whip together a spreadsheet.

Kevin’s passionate about showing others how to budget and get their financial situations under control. He’s been writing online since 2008 and has recently been working on a comprehensive guide for staying on top of your credit.

You can keep up with the latest on Kevin from his article feed or on Twitter

No Debt Plan Recent Posts:

Here are some other articles to check out from the last week or two around the web:

Valentine’s Day

Taxes

Investing & Retirement

Debt and Personal Finance

Carnivals

Posted on February 22nd, 2010 in Personal Finance | 2 Comments

Written by Ben Edwards · Filed Under Personal Finance 

Now You Know the Rest of the Story…

I apologize, these stories won’t be as entertaining as the tales Paul Harvey used to tell but people have been asking so I’ll share.

For better or worse, there are times when I share personal stories on this site or write about something based on personal experiences.  I’ve had several people follow up with me over email to see how things turned out so I thought I’d share some of them here.

How to Refer a Friend for a Job – Good news!  He made it past the first interview and went back in for the second round of interviews today! Turns out my company has a referral program where I can make $2,000 if I someone I refer gets hired.  Unfortunately, there’s a certain form you have to fill out before they apply to make it official, which I didn’t know about, so I don’t qualify for the referral bonus even if he gets the job.  Bummer. 

Lost Wedding Ring Blues – We searched high and low for my wife’s missing wedding ring and had written it off as lost.  Then one day when I was at work our son runs out of his bedroom yelling, “I found it” and holding her ring.  Apparently one night when she was picking up his toys it must have slid off and ended up in the bottom of his toy box.  He gets a gold star for finding the ring.  He was VERY proud of himself for finding it : )

Cost of Sick Kids – Our family was suffering through several bouts of cold and stomach bugs this winter season when I wrote about some of the ways that sick kids cost you money.  Well, we ended up losing money in each of those ways. 

  • I had to take sick days to stay home with sick kids. 
  • We lost daycare money that we paid when the kids didn’t go to day care. 
  • We had several bills from several visits to the doctor’s office.
  • I burned some cash stocking up on prescriptions and over the counter medicine.
  • My cold turned into a sinus infection that lasted FOREVER which meant more doctor’s visits, more time off work for appointments, and more medicine.

Our poor little girl’s cold stuck around long enough that not only did it turn into a sinus infection, she ended up with a double ear infection as well.  Luckily we’re all feeling much better now and our girl is finishing up her final dose of antibiotics.  Thank goodness I put a chunk of money in my flexible spending account!

Posted on February 18th, 2010 in Personal Finance | Comments Off on Now You Know the Rest of the Story…

Written by Ben Edwards · Filed Under Personal Finance 

2010 Federal Tax Brackets

The federal income tax brackets for 2010 probably aren’t the tax rates you’re worried about right now if you’re still working on your tax return for last year. Although the tax brackets don’t tend to change significantly from year to year; over time the changes in tax rates add up so it makes sense to keep an eye on them.

Of course the federal tax brackets are going to change each year whether you watch them or not but you can be aware of the tax tables as you do your tax planning for the year to come.

Here are the 2010 income tax brackets along with an overview of the different brackets and common questions regarding tax tables.

Tax Bracket Single Married/Filing JointlyFree Tax Calculator
10%$0-$8,375 $0-16,750
15%$8,375-$34,000$16,750-$68,000
25%$34,000-$82,400$68,000-$137,300Free Tax Calculator
28%$82,400-$171,850 $137,300-$209,250
33%$171,850-$373,650 $209,250-$373,650
35% $373,650+ $373,650+

What are tax brackets?

Tax brackets were established by Congress with the idea of taxing citizens based on their varying income levels. Tax brackets are based on your amount of taxable income after deductions and exemptions and tells how much will be owed in federal taxes for every dollar earned. Tax brackets are also dependent upon your filing status. Each year tax brackets are reconfigured according to rates of inflation.

Will my entire income be taxed in one bracket?

Your entire income is not taxed within one bracket. For example, in you are single and earn $40,000, the first $8,375 will be taxed in the 10% bracket, then from $8,375 up to $34,000 will be taxed in the 15% bracket, and the remaining $6,000 will be taxed in the 25% tax bracket.

Tax Bracket Head of Household Married/Filing Separately
10%$0-$11,950$0-$8,375
15%$11,950-$45,550$8,375-$34,000
25%$45,550-$117,650$34,000-$68,650
28%$117,650-$190,550 $68,650-$104,625
33%$190,550-$373,650 $104,625-$186,825
35%$373,650+ $186,825+

Tax Bracket Overview

Single – This status is for unmarried, individual tax payers.

Married/Filing Jointly – This status applies to married couples who choose to file their taxes together in one return.

Married/Filing Separately – This status is for married couples who choose, for personal or financial reasons, to continue filing separately, though not as a Single status.

If you are married but filing separately, keep in mind with children that dependent exemptions can only be claimed by one of you, not both.

Head of Household – This status does not claim marital status. A dependent does not have to be claimed to qualify as Head of Household.

2010 Tax Updates

Here are some things to note for your 2010 federal income tax returns:

  • New/additional Tax forms such as Form 2553 for election by small business entities: or Form 8868 for internal real estate mortgage investment conduit returns.
  • Electronic online filing will be strongly encouraged more than in past years.
  • New standard deductions for 2010 are $11,400 for married couples filing jointly, $5,700 for singles/separated and married couples filing separately, $8,400 for heads of household.
  • Unlike last year’s increase, the Gift Exclusion remains the same at $13,000.
  • Also unlike last year, personal exemptions will not increase, remaining at $3,650.

Tax Calculator 2010

If you’re wondering what the tax rates mean to your family, you can run the numbers with this free tax calculator.

Posted on February 17th, 2010 in Taxes | 5 Comments

Written by Debbie · Filed Under Taxes 

Chase Credit Card Payment Scare

What would you do if the amount you owed on your mortgage suddenly showed up on your credit card bill?

Chase Bank

Here’s a little background.  I’ve had a Chase credit card for years and have been paying the bill with our online bill pay service for most of that time.  A while back, Chase Bank also bought our mortgage; which screwed up my online bill pay processing for our home loan for a month or two.  After spending time on the phone and getting late fees reversed, I thought I was all set with our automated billing/payment.

Unfortunately, the customer service person who had helped me straighten out the online account for our mortgage had only solved a part of the problem.  When they added the home loan account they somehow “hid” the credit card account, which meant it no longer showed up online.

Chase Credit Card Late Payment

Since the credit card was hidden in the online interface, the electronic bill wasn’t sent to my  online bill pay company so I never received notice of what I owed.  I do have my credit card setup to send phone alerts when payments are paid or overdue so I was notified the day after the bill was due that Chase hadn’t received payment.  I also got another phone alert telling me that I had reached my credit limit.

Now, here’s the part where my heart leapt from my chest. 

I logged into my Chase account online to see what was going on and I saw the balance due was many thousands of dollars!  Of course I immediately thought someone had stolen our card and was on a shopping spree.  I couldn’t understand how the credit card company could have possibly let them spend that much money before cutting the card off.  We’re not talking 10K or 20K here, we’re talking a LOT of money that showed up on the balance due line.

Chase Customer Service

I dialed the phone number for Chase as fast as possible and I’m sure the lady on the other end of the line probably thought I was about to lose it.  After asking me a few questions, she pointed out that the bill I was looking at online was my mortgage bill, not my credit card bill.  Whew!

I could breathe again.  I was so used to logging into that account to see my credit card statement, I hadn’t even thought about the fact the balance due I saw could have been a home loan.  The customer service lady was reasonable and Chase waived the late fee and finance charges since they had made some sort of technical mistake that caused me not to get my bill.

Then she transferred me to the web department who looked at my account and let me know that somehow my credit card account had been “hidden” from online access.  They flipped a switch and right away I was able to see both types of statements.

So now I’m back on track with our online bill pay for both bills and am glad I didn’t have a heart attack during the few minutes I thought my credit card balance was as large as my mortgage payment.

I do get frustrated when big companies miss a detail in your account somewhere that causes you lost time and hassle.  I am glad that Chase was reasonable and refunded my late fees and I must admit she offered some of the best customer service I’ve had in about 8 months.  Luckily, I did have to break out my tips on how to beat bad customer 🙂

Posted on February 16th, 2010 in Credit Cards, Mortgage | 4 Comments

Written by Ben Edwards · Filed Under Credit Cards, Mortgage 

Common Income Tax Problems

Income taxes can make us all a little crazy at times! As part of the recent free turbo tax giveaway I asked what your biggest frustration is when it comes time to file your taxes. Here are some of the things you worry about every year at tax time.

Missing a Tax Credit or Deduction

Several people were worried that they might be overlooking a tax credit that they qualified for or not taking advantage of a deduction. Who can blame them? We all work hard for our money and don’t want to pay more taxes than necessary. With such a complex tax code I bet there are lots of people that file their tax return each year wondering if they’ve missed a deduction and overpaid.

Tax Forms

The most common frustrations seemed to revolve around all the tax forms we get in the mail this time of year. Here are some of them:

  • Waiting on tax forms to arrive
  • Keeping track of all the tax forms
  • Understanding IRS instructions on the forms
  • Knowing which tax forms to use to report various income

Tax Complexity

Many times the complexity in your tax return comes from some form of life change. Here are some examples of the tax situations that cause you to scratch your head when you’re filing out your tax forms:

  • Being a student
  • Filing in multiple states
  • Getting married
  • Working multiple jobs
  • Multiple sources of income

Below is an example of multiple life changes rolled into one year from our commentor, lunettes. Often times we can deal with one or two but when they keep coming throughout the year they can get overwhelming.

I’m really frustrated with this year’s tax issue because I got married and this is the first year I’m off my parents’ dependancy. I know how they have filed taxes in the past, but I never had to deal with some of the oil/gas leases and farm situation in my name before.

Additionally, my husband has an easy W-2 situation but I had multiple jobs and freelancing positions this year in addition to being a student and things have just gone CRAZY tax-wise especially with saving for retirement and getting married halfway through the year and our deductions changing then! This software would be a big help. 🙂

Turbo Tax Winners

Hopefully TurboTax can help the winners get over some of these hurdles and get their taxes done with less stress! Congrats to the winners of the Turbo Tax coupon codes for the Online Premier edition, selected randomly by a number generator at random.org :

  • thecognosguy
  • lunettes
  • mslee

I’ve sent you all an email on how you can claim your prize. If for some reason one of you doesn’t respond or no longer needs it then I’ll use the random number generator to select an alternate.

Thanks to everyone who participated! Don’t feel badly if you didn’t win, I have some more stuff to give away next week so stay tuned!

Posted on February 13th, 2010 in Taxes | 3 Comments

Written by Ben Edwards · Filed Under Taxes 

How to File Taxes Online

Filing taxes online can make the whole tax return process a little faster. The main benefits of online tax filing are that you can receive a faster refund, your income tax return is immediately delivered to the IRS and state government without a drive to the post office, and the software that allows you to file taxes online can catch errors on your tax return.

Tax Return Security

One of the big reasons people choose not to file taxes online is that they’re concerned whether it’s safe to submit their financial information over the Internet.  Of course this is certainly a valid concern, one that tax software providers have been working to overcome in recent years. 

One way to quiet your fears is to stick with well known names that have been in the business for years.  These companies have put a lot of time and money into making your information safe. They have a vested interest in providing secure online tax software, if they don’t guard your data they’ll go out of business.

Another security tip is to look at the start of the web address on any page where you’re asked to enter in financial information.  If the web address doesn’t start with https then don’t share any sensitive data.

Filing Your Taxes

To begin preparing your tax return online, you need to gather all the same tax forms you would when filing manually – social security numbers, income information including your W-2, deductions, receipts, 1099’s, and last year’s tax information.  The biggest benefit of tax software vs manual tax returns is that the online software helps you avoid errors.

There are several options for tax preparation companies, we look at some of the best tax software online, they all go through a similar process. The forms begin with your personal information, move on to your income and assets, walk you though your deductions and help you determine your final refund amount or the amount of tax you must pay.  Typically at the the end of your form, the software checks for any exclusions or errors.

There are also options where you can file taxes online for free with IRS Free File if you meet certain income requirements or with Free File Fillable Forms for the 1040, 1040 A, or 1040EZ return.

eFile Your Return

Electronic filing, or e-file, allows you to send your tax return from a tax software package online to the IRS. The IRS and many state governments encourage you to eFile because it saves them the time and money of dealing with paper returns.  Sending your tax information in a digital format not only makes it easier for them to process your return, it also dramatically reduces the number of errors since the software can catch details that you or I might overlook on a paper return.

Tax prep software vendors like Turbo Tax and H&R Block at Home often include a free federal efile when you buy their software.  If you qualify for and use a service like the IRS free eFile then there’s no charge for electronic filing. Once the forms are filed, you will receive an email from the IRS within 48 letting you know you return has been recieved.  If there were any problems with your income tax return

Whether you are able to efile for free or have to pay a small fee to efile it’s the most efficient, reliable way to file your federal and state taxes.  Be aware that the rules around eFiling state returns can differ around the country so check the website for your state’s department of revenue for more information on electronic filing.

Tax Refunds & Payments

If you are receiving a refund, you have the option of receiving a check in the mail or having the refund deposited directly into your bank account.  If you eFile and use direct deposit it can take as few as 10 days to get your tax refund, compared to 4-6 weeks when manually filing. 

Of course if you owe money you’ll have to pay the amount that’s calculated when you file taxes online.  One option is to pay right away by having the IRS electronically take funds out of your checking account.  Another option is to use a credit or debit card to pay your balance but you’re typically charged a convenience fee in these cases.

You don’t have to pay your taxes at the time you eFile your return.  You can still mail a check into the IRS for the amount due; just make sure it’s postmarked by April 15th to avoid late fees.

Benefits of Online Tax Filing

In addition to the benefits of saving time, getting a faster refund, and catching filing errors there are a few other reasons it might be good for you.

Services like H&R Block at Home and Turbo Tax will store your tax data from year to year if you use the online versions of their software.  This makes it easy to import the previous year’s data when you start your tax return.

Online tax preparation software also allows you to easily upgrade versions if you run across a tax situation that requires a more advanced version.  For example, if you’re using TurboTax Deluxe online and have more complex investment or rental property income than the Deluxe version can handle, you can keep all the work you’ve done on your return and easily transfer it up to TurboTax Premier.

Hopefully we’ve covered the basics on what you need to know about filing your taxes online.   We’ve gone through online filing security, the process of filing your taxes, eFiling, tax refunds,  and tax payments. Now it’s up to you to decide whether filing taxes online is the best option.  Here are some well known tax prep software packages that let you file your taxes online:

Posted on February 12th, 2010 in Taxes | 3 Comments

Written by Debbie · Filed Under Taxes 

How to Refer a Friend for a Job

Have you ever been asked to refer a friend for a job where you know nothing about their industry but want to help them out?

Referring a Friend (Blind)

Our neighbor recently applied online for a job at the company I work for but the job is in a different department working in an area that I really know nothing about.  He called me up and asked if I could put in a good word for him at work.  He’s been applying to several jobs lately and due to the flood of applicants the bad economy had dumped on the job market, he’s found it’s much easier to get an interview if someone in the company will put in a good word for you.

I asked him a few questions about his background just to get a rough idea of what his experience level was but still felt pretty shaky about it since I’m not familiar with his field or work ethic.  Just because someone’s a great person and you enjoy hanging out with them while your kids play doesn’t mean you know whether they do a quality job in their profession.

Google + Social Media = 2 Minute Resume

I wasn’t sure the best way to help him out BUT not look bad to my company by recommending someone I didn’t really know much about professionally.  I ended up researching him a bit on Google and finding his LinkedIn profile which gave me some good stuff to work with.

On top of not knowing much about his career, I didn’t even know who in my company would be hiring for a job like his.  I asked my boss, who wasn’t really sure but gave me the name of someone in that department.  I went through Outlook and looked at the groups that person belonged to and found two people that appeared to be the appropriate contacts.  I sent them both the email below, turns out they weren’t the right resources but one of them forwarded me onto just the person I was looking for:

Names & profession changed to protect the innocent. It wasn’t Chris Brogan but I knew he had a public Linked in profile I could use as an example.

<—-

Hi Cindy and Sharon,

I saw you were both part of the Outlook ACME Recruiters group, I hope you don’t mind me asking questions about the Software III position in New York City that was just posted under the Current Open Positions.

My next door neighbor, Chris Brogan, applied online yesterday for the Software III position and I wanted to see if there was any further information I could pass onto him about what types of things you are looking for in a candidate.

I’ve never worked with him professionally but our kids play together and through various conversations I’ve learned that he’s done a good job at the software company where he’s worked for over a decade, ABC Tech.  I checked out his LinkedIn profile after talking to him last night, http://www.linkedin.com/in/chrisbrogan, and he moved up from a Software Engineer to a Software Team Lead and then Systems Manager so it sounds like he knows the industry well.

Is there any additional info I could pass onto Chris about what ACME needs from the person who will fill the position or about how the interview process works?

—->

The recruiter called him up the next day and he has an interview scheduled so the ball’s in his court now.  I sure was glad to find a bunch of info about his experience and skills on LinkedIn.  It made it much easier for me to feel comfortable referring him and to put some substance in the email other than, “my neighbor is cool, please interview him”.

What do you think of the email I came up with? Have you had good/bad experiences referring friends?  What has worked best for you (and them)?

Posted on February 10th, 2010 in Career | 12 Comments

Written by Ben Edwards · Filed Under Career 

Tax Credits for 2009

Looking for tax credits? Here’s a list of some of the more popular tax credits for 2009, and who qualifies for them:

First Time Homebuyer Earned Income Tax
The first time homebuyer’s tax credit was part of the economic recovery plan in 2009. It allows first time homebuyers who purchased homes in 2009 to take a tax credit of 10% off the purchase price of their home, with a maximum deduction of $8000.00. To qualify as a first time homebuyer, you cannot have owned a home anytime during the last three years that you used as a primary residence. The home you are purchasing must be for the use as your primary residence and be used as such for the next three years.

Prior to November 6 to qualify you must also have a modified adjusted income as an individual less than $75,000 or as a couple less than $150,000. If you purchased the home after November 6 your modified adjusted income must be as an individual less than $125,000 or less than $225,000 for a couple. For homes purchased after November 6 the other restrictions include that the home you bought must be less than $800,000. To qualify the home you purchased could not have been bought from a close relative. Homebuyers must also be over eighteen years of age.

Vehicle Tax Credit

The car tax credit is also part of the stimulus package. If you purchased a new vehicle between February 17 and December 31 you qualify. All vehicles including cars, trucks, motorcycles and even motor homes qualify, but only if they are brand new. You can get the amount you paid in tax on the vehicle back in a tax credit. To qualify you must have an income as an individual lower than approximately 135,000 and lower than 260,000 approximately for couples. The vehicle you purchase must also be $49,500 or less to qualify for a full credit. If the vehicle is more than this amount, you can only deduct the tax up to $49.500. You will receive your credit when filing your income tax return for 2009. You do not need to itemize to receive the credit and instead of taking off your tax due, it reduces your income. For some this might not add up to much savings.

Adoption Tax Credit

For anyone who adopted a child in 2009, expenses accumulated during the adoption process may be eligible for a tax credit. Adoption expenses eligible for the tax credit are all reasonable and necessary adoption fees including court fees, cost for your attorney, travel expenses including meals and lodging and any other fees that are directly related to the adoption. Costs not eligible include any fees that you have been reimbursed for through your employer for example. To qualify the adoptee must be under 18 years of age. The maximum tax credit that can be earned is $12,150 per child.

Social Security Tax Credit

For individuals and couples collecting social security, you are entitled to a tax credit in 2009 of $250.00 as an individual or $500.00 as a couple. Basically, every individual who collects social security is eligible for this $250.00 credit, even if you have other income.

Government Retiree Credit

Government retirees who do not collect social security are also entitled to a $250.00 tax credit. Every retired federal employee not receiving social security will receive the credit.

American Opportunity Tax Credit

The American Opportunity tax credit has replaced the Hope Credit and allows individuals attending college to receive at tax credit for college related expenses. For the first four years of post secondary education a tax credit can be earned in the amount of up to $2500.00 per year. Tuition, room and board, text books and other necessary supplies qualify for the tax credit. The tax credit is calculated on 100% of the first $2000.00 paid and 25% of the next $2000.00 paid. To be eligible gross income cannot be more than $80,000 for an individual and $160,000 for couples filing jointly.

Energy Efficient Tax Credit

This tax credit is for qualifying purchases of energy efficient home products including hot water heaters, insulation, doors, windows and skylights. Purchasers can earn up to 30% of the cost in a tax credit. The maximum credit earned is $1500 and can not include installation of such products. Each product must meet certain energy efficient criteria to qualify.

This last one’s not a tax credit; it’s a tax deduction that you probably already had applied to your paycheck in 2009. However, it could be worth up to $800 so it’s worth double checking to see if it your employer handled it with your paycheck.

Making Work Pay Deduction

The Making Work Pay tax deduction for 2009 is also a stimulus plan tax deduction. The deduction is for 6.2% of your earned income up to $400.00 for individuals and $800.00 for couples. Most people have already received this deduction in their pay checks. Those who are self employed will need to claim the deduction when they file their 2009 income tax return. To be eligible for the full credit individuals need to have made less than $75,000 and couples less than $150,000.

Posted on February 9th, 2010 in Taxes | 6 Comments

Written by Debbie · Filed Under Taxes 


Page 78 of 190« First...102030...7677787980...90100110...Last »