Subscribe to RSSPosts Tagged ‘Home’
25% Discount on Your Taxes AND TAX UPDATES THAT EVERYONE SHOULD BE AWARE OF
Its tax time again and even though it is not a fun “thing to do” MomsFirstStop.com is here to help make it a little less painful. MomsFirstStop.com is partnering with her favorite tax man, Ben Warren co-owner of NILE CLARK AND ASSOCIATES, to give all MomsFirstStop.com readers a 25% discount on their taxes. Just contact Ben Warren at NILE CLARK AND ASSOCIATES, mention the MomsFirstStop.com discount and he will take great care of you. *Ben also does mail-ins for those of you who aren’t in the area.
BWarrenTaxService@gmail.com
NILECLARKANDASSOCAITES.COM
208-383-1186
208-383-1183 FAX
FIVE TAX UPDATES THAT EVERYONE SHOULD BE AWARE OF FOR 2008/2009
- First time homebuyer’s credit: this credit is for those first time home buyers that purchase a home between April 9 2008 through July 1 2009. This credit should be viewed as a loan. The money is interest free but must be paid back over the next 15 years.
- Residential Energy credits are suspended for 2008 but will be allowed for 2009.
- Property tax can be claimed even if the taxpayer doesn’t itemize.
- Sale of personal residence capital gains tax: There are significant changes starting in 2009 with sale of a personal residence that has had any business use in the prior 5 years.
- Mileage changes: 50.5 cents per mile the first half of 08 and 58.5 for the second half.
TOP FIVE REASONS THAT YOU SHOULDN’T USE TURBO TAX OR TAX BOXES
- Cost vs. Value- typically you’re going to get someone that has little experience, tax accounting isn’t their fulltime job, and they typically charge way too much.
- The IRS has established a department just for auditing Turbo Tax returns; error likelihood is very high.
- There is very little understanding of the complete financial picture.
- You may get some audit protection but it must be purchased.
- Very little understanding of tax law and optimizing a return to its potential.
* Call and get a quote from a reputable company before taking on the task yourself or allowing someone with little experience to prepare your tax return.