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Wednesday, 31 December 2008 |
2008 tax code adjustment
beneficial to taxpayers
By JAMIE HENNEMAN
S-E Staff Reporter
This Thursday is not only the start of a new calendar year, but the definitive conclusion of 2008--which is important for those wanting to get a jump start on their taxes.
“It is never too early to start thinking about taxes,” said Colville H&R Block Office Man¬ager Jennifer McKinzie. “Espe¬cially if you have a small busi¬ness, it’s something to think about all year as you save re¬ceipts and do employee pay¬rolls.”
According to McKinzie, there have been some amendments to the tax code for 2008 should be beneficial to taxpayers.
“There is an additional prop¬erty tax deduction for those who don’t itemize of up to $1,000 for couples and $500 for singles,” she said. “They have also low¬ered the income threshold for getting a child tax credit and the standard exemption per tax¬payer went up.”
McKinzie said that the capital gains tax has also been dropped to zero for certain income brackets.
With all of this new informa¬tion, it seems that very few would be bold enough to do their own taxes, but the in¬crease of do-it-yourself tax soft¬ware shows many are interested in taking on the challenge. H&R Block even offers a variety of tax software programs for those un¬deterred by piles of receipts, long hours and the inevitable paper cut.
“Doing your own taxes isn’t unrealistic, but you do have to be very careful because it is possible that you might not get all the benefits you are entitled to,” McKenzie noted.
However, for those DIY stal¬warts, H&R Block does offer on¬line chat advice or in-person consultations for those using the H&R Block software.
If you aren’t interested in self-accomplished tax filing, the cost of having an agency like H&R Block do your taxes can vary depending on how many forms you need to file with your tax return, said McKenzie.
“We are more than happy to enter the information for people and come up with a quote on the cost of doing their taxes. If they decide they don’t want us to do their taxes, they don’t have to there is no obligation,” she said.
Either way, as of Thursday taxpayers will only have 105 days left to submit that essen¬tial bit of record keeping to the government before the April 15 deadline.
For more information, call McKenzie at 684-3136.
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Wednesday, 31 December 2008 |
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January is near, and that means the first Colville Community Blood Draw will happen on Tuesday, January 13, 11:30 a.m. to 6 p.m. at the United Methodist Church, 930 S. Elm Street. Once again, Super 1 Foods will be donating all the ingredients for the chili that will be served to all donors on that day. Pictured above is Super 1 Store Manager Brad Barbour.
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