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H&R Block TaxCut 2010 &
Tax Changes
H&R
Block TaxCut, is
one of the most well known and well
liked tax organizations and tax software
programs on the planet. Millions of
people have learned to trust their
professionals, and they return every year.
If you're looking for a inexpensive way to
get your taxes done, then you
might want to consider
TaxCut 2010 from
H&R Block. It is no doubt the
biggest competitor to
TurboTax and it
has the same user friendliness but it
comes with a more reasonable price tag.
Another great thing about H&R Block is
that you can always find a local office
nearby if you would like to just drop
off your papers and let the
professionals take care of it for you.
TaxCut - Tax Law Changes for
2010
The following is a
summary of important tax law changes to
occur in 2010:
Unemployment income up to $2,400 that
could be excluded from taxable income in
2009 is no longer be available in 2010.
Sales tax: Individuals
will no longer be able to take an
itemized deduction for state and local
sales tax.
New vehicle sales tax:
Effective January 1, 2010, individuals
will no longer be able to take a
deduction for sales tax on the purchase
of a new motor vehicle.
Educator expenses: Teachers in 2010 will
no longer be allowed to deduct out of
pocket expenses incurred for school
supplies..
Roth IRA conversion: There are no income
level restrictions in 2010 for
individuals that convert a traditional
IRA to a Roth IRA. Conversions made in
2010 will pay their tax in 2011 and
2012.
Phase outs: In 2010, there will be no
phase out of itemized deductions or
personal exemptions.
Charitable distributions &
contributions: Charitable distributions
made directly from an IRA account will
no longer be excluded from your income
Home buyers credit: If you got a home
buyers tax credit in 2008, you are
required to start paying the credit back
in 2010.
Alternative Minimum Tax: AMT exemption
is scheduled to decrease to $33,750 for
single filers and to $45,000 for those
filing a married joint return.
Retirement contributions: Maximum
contribution an individual can make to a
401(k) plan remains at $16,500. The
catch up contribution of $5,500 for
individuals age 50 + also remains the
same for 2010.
Mileage reimbursement: Rates effective
for January 1, 2010 are $0.50, $0.165
and $0.14 for miles incurred for
business purposes, medical purposes and
charitable purposes.
H&R Block
TaxCut 2010 is a great way to
insure your taking advantage of all the
tax benefits you can.
The nice thing about going online to
prepare your taxes with
TaxCut 2010
Online is that you can do it anytime
and at your pace. Do it all in one
sitting or come back for a few minutes
here and there until you complete your
return. If
something doesn't look right the
software will automatically flag it and
give you tips on making sure it's
correct.
That can save you from major hassles
with the IRS down
the road.
If you're looking for great tax software
at a fair price, then
HR Block TaxCut 2010
Software is probably the right
software for you. It will help you get
your taxes done quickly, easily and
accurately. Plus it will make sure your
getting all deductions and credits you
can qualify for. Chances are it will pay
for itself finding bonus deductions
you've missed in the past, and that will
make up for any software that you may
need to pay for.
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