Taxpayers who buy a new car or several other types of motor vehicles this year may be entitled to a special tax deduction when they file their 2009 federal tax returns next year. The tax break is part of the American Recovery and Reinvestment Act of 2009.
When preparing to file your federal tax return, don’t forget your contributions to charitable organizations. Your donations could add up to a sizable tax deduction if you itemize on IRS Form 1040, Schedule A. If a taxpayer is donating to a qualified charity, this is a very important thing to get right. You can deduct… Read More »