Archive for 2009


Estimated Tax Payment Due Date Reminder

Third quarter estimated tax payments are due on September 15.

How to Make Payments. To make your payment, you can use the paper Form 1040-ES or you can use the IRS EFTPS electronic payment system.
Who Needs to Make Payments. For guidelines on who needs to pay estimated tax payments, see the estimated tax payment details.
Payment [...]


Energy Efficiency Tax Credits

Energy efficiency tax credits are for homeowners to improve their house with energy efficient appliances, windows, and other energy saving upgrades.
Most of the improvements must be placed in service January 1, 2009 through December 31, 2010. Here is a summary of the energy efficient upgrades and the tax credit available. For specifications of each, see [...]


Cash for Clunkers Tax Rules

What are the Cash for Clunkers tax rules? Do you have to pay federal income tax on the Cash for Clunkers program?
There seems to be a lot of confusion around the tax rules for the Cash for Clunkers program which ended this week. One of the tax rules currently being debated is whether or [...]


State Sales Tax Holidays

State sales tax holidays are here! If you’re lucky, your state will encourage you to shop on specific days this summer and fall to avoid paying sales tax. Sales tax holidays vary by state. Here is an overview of the dates and savings for each state:
Alabama

Date: August 7-9
Savings: 4%

Connecticut

Date: August 16-22
Savings: 6%

Georgia

Date: July 30 – [...]


2009 Tax Brackets

The 2009 tax brackets are out. Don’t forget tax rates are marginal, so you’ll pay taxes at each rate until you reach your taxable income level.
For example, a single filer who has $25,000 of taxable income will pay 10% on the first $8,350 ($835) and 15% on the remaining $16,650 ($2,497.50). The total tax [...]


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