IRVINGTON, NJ AREA - What’s New In Taxes for 2009? Oh, Boy. A Lot. Thank goodness You Got People.

What’s New In Taxes for 2009? Oh, Boy. A Lot. Thank goodness You Got People.

There was a lot of new stuff in the Tax Laws for 2008. The New Economic stimulus payment. The Recovery rebate credit. The First-time homebuyer credit. An additional standard deduction for real estate taxes and net disaster loss. TWO changes to the standard mileage rates!

Fortunately, you’re not going to need to learn all of the changes for 2009. Why? Because You Got People. CONTACT THEM AT:

CONTACT AN H&R BLOCK YEAR ROUND OFFICES IN THE AREA:

Short Hills:
760 Morris Turnpike
Short Hills, NJ, 07078
973-376-4062

Irvington:
1094 Clinton Ave
Irvington, NJ 07111
973-371-0400

Maplewood:
1730 Springfield Ave
Maplewood, NJ
973-763-3883)

West Orange:
24428 Green Shopping Center
495 Prospect Ave, 401B,
West Orange, NJ, 07052
973-325-1880

East Orange:
(549 Main Street
East Orange, NJ, 07018
973-674-6089

Broad Street:
726 Broad Street
Newark, NJ, 07102
973-624-6712

Bloomfield Ave:
142 Bloomfield Ave
Newark, NJ, 07104,
973-484-2148

Ferry Street:
97A Ferry Street
Newark, NJ, 07105
973-522-0076



Nevertheless, here’s some of what's NEW for 2009:

This section summarizes the important changes that take effect in 2009 that could affect your estimated tax payments for 2009. More information on these and other changes can be found in Publication 553.

IRA income limits. You may be able to take an IRA deduction if you were covered by a retirement plan and your 2009 modified adjusted gross income is less than $65,000.

Alternative minimum tax (AMT) exemption amount decreased. The AMT exemption amount will decrease to $33,750 ($45,000 if married filing jointly or a qualifying widow(er); $22,500 if married filing separately).

The definition of a “Qualifying Child” changed: For starters, your qualifying child must be younger than you and a child cannot be your qualifying child if he or she files a joint return.

Personal casualty and theft loss limit. Generally, a personal casualty or theft loss must exceed $500 to be allowed for 2009.

What’s New In Taxes for 2009? Oh, Boy. A Lot. Thank goodness You Got People.