As lawmakers work to find new ways to eliminate the federal deficit, a greater focus has been placed on reducing or eliminating certain tax deductions, including the charitable deduction, which taxpayers may claim for donations made to nonprofits, churches, colleges and hospitals. In … [Read more...]
Earned Income Tax Fate (47 percent) on the Chopping Block as Vulnerabilities are Examined
Republican presidential candidate Mitt Romney may have distanced himself from his recorded comments about the “47 percent” of Americans who pay no income taxes, but the media certainly hasn't strayed. Every word of Romney’s economic plan has been under close scrutiny. For example, … [Read more...]
Tax Credits for Energy Efficient Homes
Filed Under: Taxes by
If you install certain energy efficient products like heating and cooling systems, insulation, roof, doors and windows you can receive a sizable tax break. Your tax break for installing any of these energy efficient products between January 1, 2009 and December 31, 2010 will be to … [Read more...]
Tax Credit
Filed Under: t by
Tax Credit A reduction in the tax due by a person on account of some government scheme. Random Finance Terms for the Letter T Targeted Repurchase Tax Accounting Tax Books Tax Clawback Agreement Tax Credit Tax Differential View Tax-Exempt Sector Tax Free … [Read more...]
