Beating the IRS – Book Giveaway!

by Dual Income No Kids on February 22, 2010 · 2 comments

As finance bloggers, we’ve received our fair share of finance books, many of which frankly aren’t ones I’d pay for myself. I’d have to say that with our latest book give away I couldn’t be more excited to share it with our readers.

Roni Deutch, tax expert and author of THE TAX LADY’S GUIDE TO BEATING THE IRS: And Saving Big Bucks on Your Taxes, continues her campaign to educate and empower taxpayers.

We’ll be doing posts all week sharing tips from the Tax Lady and then we will select two winners on Friday. Just leave us a comment with your tax questions or comments and we’ll draw winners from the comments.

2009 was one of the biggest years for tax law change in history. Filing this year will be more confusing and could cause many to pay money to the government that is rightfully theirs. Here are the 5 essential changes in tax law you need to know:

Newly Expanded Home Buyer Credit
If you were thinking about buying a home, get a move on! Congress approved the newly expanded homebuyer credit which counts for all homes with closing dates before April 30, 2010. First time homebuyers are eligible for up to $8,000 in refundable credit for new home purchases!

Increased Contribution Limit for 401(k) Plans
Invest in your retirement! The maximum employee contribution rises to $16,500 from $15,500 in 2009 for these and similar workplace retirement plans including 403(b)s and the federal Thrift Savings Plan.

Tax Credit for College Tuition
For 2009 and 2010, the new American Opportunity credit provides up to $2,500 per student a year for four years of college, not just the first two years. It now also covers the cost of books!

Higher Annual Gift Tax Exemption
For 2009, you can give up any individual up to $13,000 without owing any gift tax, a $1,000 increase over 2008.

Partial Exclusion for Unemployment Benefits
While your unemployment checks are usually considered taxable income, in 2009, the first $2,400 you received will not be taxed. Simply subtract that amount from the total benefits your received (which should be reported to you on form 1099-G).

Drop us a comment and we wish you luck in winning! Please keep in that anonymous comments are fine, but if you’d like to win, please leave a name of some kind so we can announce winners and get information to send out the books.

Happy Filing!


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{ 2 comments… read them below or add one }

1 Anonymous February 23, 2010 at 5:24 pm

Yo, I want a copy of this book.

2 Wealthy Immigrant February 25, 2010 at 11:55 am

Thanks for the giveaway! It would be interesting to know if there are tax breaks for renters – if any.

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