Another Tax Change

Posted on 13. Jan, 2009 by in Income Taxes, Tax Changes

Another Tax change that I failed to mention in previous posts is the one pertaining to property tax. If you have enough itemized deductions to file a Schedule A, you can claim property taxes paid on your property.  However, many people may have purchased their home in the latter part of the year, or the interest payment isn’t large enough to qualify them for itemization.  The new change for this year allows you to claim the property tax paid up to $500 single and $1000, married filing jointly.  This is a good change and will help many people.

I have been extremely busy the last week getting my Tax Office ready to open for the Tax filing season, which begins this friday.  I will continue to post, but probably not every day.

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