Patty McMillen

Homeowners can make energy-conscious purchases that will provide tax benefits when filling out ther tax returns for 2009.  The NEW law provides tax credits for making your principal residence more energy efficient and for buying certain energy efficient items.  The new law increases the energy tax credit to 30% of the cost of all qualifying energy-effieient improvements to existing homes.  It also raises the maximum credit limit to $l,500 for improvements placed in service in 2009 and 2010.  These improvements include adding insulation, energy efficient exterior windows, energy-efficient heating, air conditioning systems and more.  When filing your taxes asking your tax professional what you can deduct.

Great News!  If you were unemployed in 2009 but go a new job, moving expenses may be deductible, if you moved more than 50 miles away-and you don’t have to itemize to get it.  For the year of 2009, you can deduct the cost of getting yourself and your household good to that new area 50+ miles away, this includes 24 cents per mile for driving your own vehicle, plus parking fees and tolls.  Every tax break helps!