2010 Tax Changes that Affect You

6 Tax Law Changes that Affect You (and Your Wallet)

As almost all of us have discovered at one point or another, the Internal Revenue Service’s tax code is constantly changing. A tax credit that you’ve used for years might be snatched away from you. Or you could suddenly find yourself eligible for a new deduction that was just added to the books. Let’s take a look at some of the ways that the tax rules have evolved this year and how they might affect you.

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Tax Credits 101: Credits for Students

For most higher education students, the fall semester has come to a close. As the new year and another semester approaches, now is a good time to begin thinking about taxes. Yes… taxes. Students who are filing their own tax returns this year may qualify for higher education tax credits that can significantly reduce your tax burden, or possibly increase your refund. Learning about them now will save you from cramming later and maybe even missing out on some money to which you’re entitled.

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All I Want for Christmas Is… CASH!

Santa baby, slip a little envelope under the tree for me! Nothing says “I love you” like a hunk of cash to buy what you want when you want it. Cash (or check) makes the perfect gift and it is so easy to give – or is it? Unfortunately, lurking behind your tree is the mean and nasty Scrooge IRS ready to levy 35 percent gift tax on you if you are too generous this year! How can you avoid the Scrooge and still fill your family with joy on Christmas morning? Certified Financial Planner, Gelasia Steed, gives us the scoop.

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Need Cash? There May Be More Money Available in Your Paycheck

Could you use some extra cash from your paycheck now rather than waiting for your tax refund? Would you like to reduce a possible balance due on your 2010 Federal income taxes? You can make adjustments to your Federal Income Tax (FIT) withholding to increase the amount of money you get with each paycheck. But, the opportunity is NOW! You must take advantage before you receive your last paycheck for 2010. Certified Financial Planner Heidi Davis shows us how to access this available cash.

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