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2009 Economic Stimulus Act

February 18th, 2009

On February 17, President Obama signed into law the “American Recovery and Reinvestment Act of 2009” (the 2009 Economic Stimulus Act).  This new legislation was passed with the purpose of aiding our ailing economy and includes a wide variety of tax provisions, many of which will affect both individuals and small businesses.  Included below are […]

Tax Benefit to Aid First-Time Homebuyers

February 9th, 2009

Now may be a good time to purchase a home as a lot of good deals are awaiting those with a down payment to facilitate a purchase.  If you are a first-time homebuyer, you can benefit from a limited-time tax break designed to help first-time homebuyers afford the down payment on a home. For home […]

Some Extension Due Dates Earlier for 2009

February 9th, 2009

The extended due dates for returns of calendar year trusts and estates (1041), partnerships (1065), and certain other returns that generate form K-1s have historically been the same as for individual returns (1040).   Since these returns generally include information that is required to complete the individual returns of beneficiaries or partners, having the same extended […]

A New Twist for Home Sales

February 9th, 2009

With the advent of the home sale gain exclusion back in the 1990s, taxpayers have been using that provision of the law in a popular strategy to exclude gain, not just from their primary residence but from rentals and second homes as well. They do that by moving into and making the rental or second […]

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January 25, 2010
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October 17, 2008
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