| Greetings!
As you start assembling your data for your 2009 tax appointment, I've listed a few additional items for you to consider and information to bring in with your appointment. |
| Qualified Motor Vehicle Sales Taxes |
If you purchased a car, light truck, motorcycle or motor home after February 16, 2009 and before January 1, 2010 you can deduct the sales tax paid on the purchase, subject to limitations, even if you do not itemize your deductions. Make sure you bring in the Illinois Sales Tax Transaction Return (Form ST-556) with your tax return data.
Also, if you purchased a car, light truck, motorcycle or motor home after December 31, 2008 and before February 16, 2009 or purchased anytime during 2009 a boat, airplane and home building materials, you may still be able to deduct the sales tax on Schedule A. Bring in the Illinois Sales Tax Transaction Return (Form ST-556) with your return data. |
| Residential Energy Tax Credits |
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For 2009 and 2010, you can claim a credit for certain home improvements installed on or in your personal residence. Vacation homes or rental property do not qualify. Qualifying property must meet technical requirements related to energy savings; a manufacturer's certification statement and your receipts are required to claim the credit. |
| 2010 Standard Mileage Rates |
Beginning on Jan. 1, 2010, the standard mileage rates for the business use of a car (also vans, pickups or panel trucks) will be:
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50 cents per mile for business miles driven
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16.5 cents per mile driven for medical or moving purposes
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14 cents per mile driven in service of charitable organizations
The new rates for business, medical and moving purposes are slightly lower than last year's. The mileage rates for 2010 reflect generally lower transportation costs compared to a year ago.
Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates. | |
Visit our updated web site http://clarkfs.com for information about our company and biographies of our staff.
You can now follow Clark Financial Services on both Facebook and/or Twitter for important tax updates throughout the year.
Evening and weekend appointments are available for your convenience; be sure to call early to schedule your 2009 tax preparation appointment since these available times fill quickly. You can call us at 708-424-4100 or e-mail at info@clarkfs.com to schedule your tax preparation appointment
As always, if you have any questions, comments or concerns, you can call or e-mail us at any time.
Sincerely,
Timothy Clark EA
Clark Financial Services |
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IRS Circular 230 Notice: Any advice expressed above as to tax matters was neither written nor intended by the sender or Clark Financial Services to be used and cannot be used by any taxpayer for purposes of avoiding tax penalties that may be imposed under U. S. tax law. If any person uses or refers to any such tax advice in promoting or marketing or recommending a partnership or other entity, investment plan or arrangement to any taxpayer, then (i) the advice was written to support the promotion or marketing (by a person other than Clark Financial Services) of that transaction or matter, and (ii) such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.
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| It's February Already! |
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It's never too early to call for your tax preparation appointment! Call us at (708) 424-4100, we'll be happy to schedule a convenient time for you.
One of the nicest compliments you can provide is the referral of our services to your friends, family and colleagues. Please forward this email to someone you know that may be looking a register and licensed tax professional to work with them who will provide fast, friendly and affordable services.
As our way of saying thank you to the brave men and women who serve our country, we offer to prepare their returns at no charge. Active Military I.D. required to claim this offer. |
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