If Uncle Sam got a bigger chunk of your paycheck last year than you’d like – or if you’re dreading the big check you’ll have to write on April 15 – it might cheer you up to look forward to some new tax breaks for 2010. The IRS generally introduces tax changes as the year progresses, but some new tax breaks that have already been announced can help lower your tax bill this year (and next year).
I tend to stay away from offering too much tax advice. In general, good advice only comes with a solid conversation about your particular situation. If you do not have a tax adviser helping you, you probably should.
Investopedia details a few that you should investigate. Jump over there and read the full article but here is a quick list:
- Homebuyer Credit
- Earned Income Tax Credit
- No More Limits on Roth Conversions
- Haiti Relief Donations
- Making Work Pay Credit
- Homebuyer Credit