Taxes Estate Answers Free helpful Knowledge Base

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you are already have the right to the money owned by your spouse, most states do not charge a tax on money left from one spouse to another.

For Americans working overseas, nearly $90,000 a year of their earned income is tax free. This totally legal tax break is called the Foreign Earned Income Exclusion. Here is a look at this tax break.

For the employees who are married and filing separately, the minimum income is $3,500 regardless of age. For a head of the family whose age is below 65 years old, the minimum income is $11,500 and $12,850 for 65 years old and above.

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Even Bigger Tax Credits are Available if you are planning a major remodel between now and 2016, the government is giving a tax credit on 30% of the cost for certain energy efficient items with NO UPPER LIMIT.

You also have a choice when it comes to claiming equipment. You can write off the total cost in the same year or you can spread it out over several years and write it off as depreciation.

The allowed purchase dates ranged from April 8th, 2008 to July 1 2009. Since the rules changed for 2009 this leaves a period of almost 7 months of overlap, The 2008 rules allowed someone to treat a 2009 purchase as being completed in 2008 and amend their returns to get the credit faster.

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