Stacy's Tax Tips
Welcome to my weekly tax tips. Throughout tax season, I will give you some tax tips to, hopefully, make preparing and filing your taxes easier, as well as give you insight on the new tax law changes for 2009:
1. If your adjusted gross income is $56,000 or less in 2008, you are eligible for free filing. Just go to www.irs.gov.
2. Keep in mind that the stimulus payments that were received in 2008 are Tax Free and do not need to be reported on your tax return.
3. Remember to get a receipt for all charitable donations for as low as $1. The IRS will no longer accept any donations without proof.
4. Taxpayers who own qualifying real property but don't itemize their deductions can take advantage of the new additional standard deduction for state and local real property taxes paid in 2008, up to $500 for single filers and $1,000 for married couples filing jointly.
Call or stop by my office for all of your Accounting & Tax needs!
If you have a topic of interest, call me and maybe we can include it in the weekly tax tips.
I can be reached at 718-318-8829 and my office is located on 438 Beach 129 Street, second floor.