NEW YORK - MAY 20: In this photo illustration...Reblog this post [with Zemanta]

Paying taxes by credit card has just gotten cheaper

Taxpayers may deduct convenience fees charged for paying individual income taxes electronically by credit or debit cards. The convenience fees are deductible in the tax year in which they are paid as a miscellaneous itemized deduction subject to the two percent of adjusted gross income (AGI) floor. This treatment is available to individuals who itemize their deductions and will be able to take advantage...

September 7th, 2009 by The Tax Man 
Add Comment
Read More...
LAGUNA HILLS, CA - MARCH 28: Sebastian Villal...Reblog this post [with Zemanta]

First-time homebuyer credit

A new first-time homebuyer credit of up to $7,500 has been designed by Congress to entice middle-class taxpayers to get off the sidelines and buy their first home. The IRS anticipates that for the period that this temporary tax credit applies — for homes purchased after April 8, 2008 and before July 1, 2009 — over $13.5 billion in credits will be claimed. Image by Getty Images via Daylife As...

December 15th, 2008 by The Tax Man 
Add Comment
Read More...