Starting with 2009 federal income tax returns, taxpayers will be required to attach certain documents in order to claim the New Homebuyer Credit. A new credit of up to $6,500 is available to taxpayers who have lived in a residence for more than five years, but they might have trouble finding documents to prove their residence during the five-year period.
Tax break for Haiti donations will end soon
Taxpayers can choose whether to deduct certain donations paid in 2010 to US Charities for Haiti earthquake relief on their 2009 or 2010 income tax returns.
Will the title for your property spoil your estate plan?
Michael Gray, CPA interviews attorney William Mahan about tax and financial considerations of holding title on this week's episode of the public access television series Financial Insider Weekly.