Category Archives: Deductions

Tax breaks may boost paychecks by $40 a week

By doris | Published: January 1, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — Your paycheck will either shrink by a few dollars or grow by nearly $40 per week in 2011, thanks to the tax compromise lawmakers passed earlier this month. Slated to take effect in the first few weeks of 2011, a central component of the tax package included [...]

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Low rates aren’t helping the housing market

By doris | Published: July 6, 2010

Full Story at msnbc.com An odd scene has been playing out lately in the offices of mortgage brokers and bankers around the country. Mortgage rates have sunk to levels not seen in more than a half-century — a seductive 4.58 percent for an average 30-year fixed loan. Yet brokers and lenders report not a flood [...]

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House approves homebuyer tax credit extension

By doris | Published: June 30, 2010

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — The House of Representatives voted Tuesday to give first-time homebuyers three more months to close on their purchases and land an $8,000 federal income tax credit. But the Senate had better act fast – the deadline is currently Wednesday. The bill doesn’t help anyone currently shopping for [...]

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5 tax breaks you should look at

By doris | Published: March 2, 2010

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — Tax season is upon us. And while nobody likes shelling out their hard-earned dollars to the IRS, this year the government is offering up some new opportunities that could save you big money. As part of the American Recovery and Reinvestment Act, or stimulus bill, Congress introduced [...]

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Obama proposes tax hikes in budget

By doris | Published: February 2, 2010

Full Story at msnbc.com WASHINGTON – While President Barack Obama is proposing to cut some taxes for companies that hire workers, his budget would raise a host of other taxes on businesses and wealthy individuals. The budget proposal released Monday would extend Obama’s signature Making Work Pay tax credit — $400 for individuals, $800 for [...]

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7 most overlooked tax deductions

By doris | Published: January 22, 2010

Full Story at  msnbc.com Through deductions, American wage earners have the chance to pocket more income rather than hand over their hard-earned cash to the government. For those who keep good records, deductions can mean more money — and less for the IRS. You probably know the most common deductions, such as deductions for property [...]

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