OAKLAND, CA - APRIL 10: Manuel Alvarez (R) he...Reblog this post [with Zemanta]

Making Work Pay Credit

For 2009 and 2010, most individuals with earned income can claim a refundable Making Work Pay Credit (MWPC of up to $400 ($800 for joint returns).  The Making Work Pay Credit is the lesser of 6.2% of a workers earnings or $400.  Image by Getty Images via Daylife The credit effectively eliminates the first $400 of Social Security taxes. This credit is subject to phase outs as well.  The amount...

March 9th, 2009 by The Tax Man 
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Domestic credit to private sector in 2005Reblog this post [with Zemanta]

2008 Hope and Lifetime Learning Credits

Phase-out begins at modified adjusted gross income of $96,000 joint return; $48,000 all others. Hope credit, 100% of first $1,200; 50% of next $1,200; maximum credit $1,800. Image via Wikipedia   a2a_config.linkname="2008 Hope and Lifetime Learning Credits"; a2a_config.linkurl="http://besttaxtips.com/2009/02/2008-hope-and-lifetime-learning-credits/"; a2a.init("page");
February 11th, 2009 by The Tax Man 
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