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Sun Setting Tax Laws Affecting You and Your Business
Tax Breaks Are Officially Ending This Year. Or, Are They?
On Decemeber 9, 2009, the House of Representatives passed “the Tax Extenders Act of 2009″ which extends for one year some 40-plus tax provision which were set to expire at the end of 2009. The Senate has yet to take up the matter and the final legislation may differ from the House version. We will either send a special edition of newsletter once the legislation has been signed or updated this article in the next edition
The end of the 2009 will signal the death of quite a few tax breaks for both individuals and businesses. Some temporary credits and deductions will be extended by Congress for another year or two at the last minute but most of them will be gone. So if you can take advantage of any tax breaks contained below in 2009; do it while you can.