THE WEIRS TIMES, Thursday, March 25, 2010
Your Money
TIPS & TRICKS FROM FINANCIAL EXPERTS
METZLER from 8
country remained serious and required the contin- ued attention of the Coun- cil.” The Republic of Korea supported the renewal of the Special Rapporteur’s mandate. Not surprisingly a num-
ber of delegations rallied to the DPRK among them,
RETURN from 22
China, Cuba, and Sudan. A Syrian delegate added, “ It is astonishing that the Council was returning to the practice of targeting certain countries, as that was clearly politicized.” Many critics charged that the hearings were “politi- cally motivated.” Politics in the UN?
The modified HOPE cred-
credit amount. For the 2009 tax year,
your standard deduction may also include state or local real estate taxes of up to $500 ($1,000 for married filing jointly) and net disas- ter losses that occurred before Jan. 1, 2010. The first $2,400 of un- employment compensa- tion is exempt from 2009 federal taxes. Any amount over $2,400, as well as severance pay, is taxable income. If you purchased a home
in 2009, you may qualify for the first-time home- buyer credit. Keep in mind the name of the credit is deceiving, as current and past homeowners may also qualify. The credit is equal to 10 percent of the purchase price, up to either $6,500 or $8,000, depending on the purchase date, price, whether you’ve owned a primary residence and when you last owned a primary residence. In- come level and filing status also affect eligibility. Those claiming the credit must mail their federal returns along with certain docu- mentation for the home. Energy efficient improve-
ments made in 2009 and 2010 may give homeown- ers up to $1,500 through the Nonbusiness Energy Property Credit. Up to 30 percent of the costs for qualifying improvements to a primary residence can be claimed.
it, the American Oppor- tunity Credit, is equal to 100 percent of the first $2,000 and 25 percent of the next $2,000 (totaling up to $2,500 per student) for tuition, related fees and required course materials. It applies to the first four years of post-secondary education in 2009 and 2010. The refundable cred- it phases out at MAGIs of $80,000 for individuals and $160,000 for joint fil- ers.
Finally, if you made a
cash contribution towards earthquake relief efforts in Haiti after Jan. 11, 2010, and before March 1, 2010, you can deduct it on your 2009 or 2010 return (but not both). To ensure you get all
the tax breaks you qualify for, Dolmage recommends a do-it-yourself tax solu- tion like TaxACT that in- cludes a maximum refund pledge. The program will break down all the tax law changes in an easy-to- understand and easy-to- follow format and point out potential deductions and credits you may overlook on your own. TaxACT us- ers can e-file their federal return free, so they can have their refund in as few as 8 days with direct deposit. For information about all
2009 tax law changes, visit www.IRS.gov and www.
TaxACT.com/recovery-act.
COURTESY OF ARACONTENT
The 47 member Human
Rights Council is often criticized—but rarely when it turns its attentions to- wards Western countries. The clear case of state-
sanctioned abuse of its own citizens by the DPRK remains a hallmark of its rulers. While the UN Se- curity Council has tried to contain Pyongyang’s nu- clear proliferation, there’s been a nervous reluctance to confront the North on its vulnerable human rights record.
Allowing political sun-
shine into the dark corners of the DPRK, State of Fear, is long overdue and a moral responsibility of the international community.
John J. Metzler is a Unit-
ed Nations correspondent covering diplomatic and defense issues.
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