Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty
 

Company highlights tax benefits for homeowners

March 23, 2009 by  

Company highlights tax benefits for homeownersAmong the few bright spots in the current economy are some tax breaks that homeowners may want to keep in mind during this tax filing season.

In addition to real estate tax benefits that can be applied to 2008 income tax returns there are also benefits that will be available for 2009, according to Jackson Hewitt Tax Service, an industry insider.

"Homeowners want to make sure that when they visit with the tax preparer, they bring along all pertinent home-related documents," says Mark Steber, vice president of tax resources at Jackson Hewitt.

"Knowledgeable tax preparers will not only walk [them] through the credits and deductions they may qualify for this year, but also alert them to the documents that will be important [in 2009]."

This year’s benefits include an additional standard deduction for homeowners who are not eligible to itemize deductions. For 2008, they can increase their standard deduction amount by the lesser of either the real estate taxes paid in 2008 or $500 ($1,000 if married and filing jointly).

A first-time homebuyers credit of $7,500 is also available this year.

For 2009, there are new benefits to those who want to make improvements to their homes.

They include an energy credit whereby homeowners can claim 30 percent of the cost for energy-saving improvements to their main home.

According to the U.S. Census Bureau, more than 67 percent of U.S. residents owned homes at the end of 2008.
ADNFCR-1961-ID-19088206-ADNFCR

Personal Liberty News Desk

Facebook Conversations

Join the Discussion:
View Comments to “Company highlights tax benefits for homeowners”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at newstips@personalliberty.com

Bottom
close[X]

Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to PersonalLiberty.com,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.