Tax Help

If you missed out on the popular cash-for-clunkers program this summer, you can still qualify for big tax benefits for an older vehicle by donating your "clunker to charity. Instead of trading in your vehicle, simply give it away to a qualified charitable organization. This entitles you to a deduction on your '09 return.

The tax law provides a special jobs credit—called the Work Opportunity Tax Credit—if you hire workers from one of several economically disadvantaged groups. Strategy: Hire qualified workers before year-end. For instance, if you hire a worker in November and pay him or her $2,000 a month, you can claim a credit of $1,600 (40% of $4,000) this year.

Suppose your employees regularly incur business expenses that are not reimbursed by your company. For example, they might personally pay for business travel or tools. If that's the case, there's a way you can save income tax for employees while cutting employment tax for your company: Set up a salary reduction plan.

Q. We may have to pay environmental cleanup costs as a result of an investigation. Can we write off all of the costs on this year's return?

You may have to travel away from home on business for an extended period of time. Of course, you'd rather spend weekends back with your family, but it might cost too much to fly back and forth. Strategy: Have your company reimburse you for the air fare. As long as you provide adequate accounting of expenses, the reimbursement is deductible by the company and tax-free to you.

Are we in an era that is the end of the student stipend? Many educational systems are being faced with the negatives of providing students with stipends.

Need an easy, quick fix to your money problem? Rent out your vacation home and receive a tax break.

If you would like another shot at owning a small business, then the economic stimulus law has given you the perfect opportunity.

Is April your least favorite time of the year? Obama has a new plan to help make taxes, and the spring season, more enjoyable.

Thought that you were done with tax season, but you realized that you had made an error? Figure out if it is worth it to file an amended tax return.

Are taxes applicable to money transferred over to a trust in the U.S.?

Do you hate spending money on child care for the summer? Well, don't fret, there is an upside to this spent money! Now you can get tax breaks for that dreaded summer tuition.

What is the COBRA subsidy? Find out what it is and how it will effect you.

Did tax season make you realize that your method of filing receipts isn't efficient? Learn about other ways to organize and make your life easier.

Are you always late when it comes to paying your taxes? Well, here is an incentive to file on time. You could be charged a tax interest charge penalty, if you send your taxes in late.

Keep that money in your pocket! Find out about abstract deductions that can save you money.

Do you have worthless stock to your name? Make the best out of the situation and file a worthless capital claim.

What are the 10 most common errors? Here's what the tax pros say.

Feds delay the new Form 1-9 until April 3.

If you are self-employed, is it possible to write off business calls made on your personal cell phone? Find out where to draw the line for deducting business expenses.