Tax Preparation

Tax time is here and there are a number of changes in the tax code that help you keep more of your hard earned dollars.

If you wish, you can prepare your own taxes at

This site allows you to prepare your taxes and also electronically file your taxes!

First Time Homebuyer's Credit

As many of you know, the first time homebuyer's credit has an extended deadline from November 30, 2009 to April 30, 2010. The new home must be under contract on or before April 30, 2009 and must be settled (purchased) by June 30, 2010.
To be eligible the buyer must not have owned a home in the prior 3 years. The home must not cost more than $800,000. The $8,000 credit will be available to those single filers making $125,000 or less and married filing joint filers making $225,000 are generally eligible for the full amount of the credit. If you are making in excess of these amounts, you may not be eligible or you may be eligible for a lesser amount.

Other Credits

Education credits have been revamped.

Taxpayers who have purchased certain new vehicles will be able to deduct the sales tax paid on the vehicle.

Up to $2,400 of unemployment benefits are tax free for 2010. Prior to this all unemployment was taxable.

Energy credits and renewable energy incentives such as adding insulation, energy efficient replacement windows and energy efficient heating and air-conditioning are eligible for up to a $1,500 credit.

Making Work pay credit was reflected in most taxpayer's paychecks. To be sure that enough taxes have been withheld. Go to the IRS withholding calculator at

There are a number of other credits available. Check with your taxpreparer to see if any of them will benefit you!