I amended our 2009 taxes to take advantage of the $6500,00 homeowner's credit for people who previously owned a hone in the last five years. Since we got a refund, we pocket the whole $6500.00.
Sweet.
But, I did not know about a $400.00 individual tax credit for working.
A tax credit for working? Shut the front door!!!!
Dudes, I usually keep up to date with this kind of stuff. So, I did some research and it's legit. The Making Work Pay Tax Credit is a part of the Economic Recovery Act. So, if you worked in 2009 or 2010, you are eligible for a $400.00 credit. Of course, if you still owe the IRS, Uncle Sam is gonna take that cash. So, if you didn't know about this, go amend your tax return....NOW!!!! If you have Turbo Tax or Tax Cut, they will help you amend your return.
Since Husband and I both worked, and don't owe Uncle Sam, that's $800.00.
Add it up...$6500.00 + $800.00 = $7300.00!!!
CHAAAAACHING!!!!!
About Me
- Seeking Solace
- I am a college professor who is fumbling through the chaos of academia, rheumatoid arthritis, working on my PhD and just being a 40 something woman. I used to be a lawyer, which made me a snarky little person. I have a wonderful Husband and a German Shepherd named Junior. They help keep me sane.
Paws to Consider
My Sister's Keeper
3 comments:
We got an $800.00 refund because we didn't know about the "Hurray, You're Working" credit. Nice thing to get back when there's no paycheck coming in!
Too bad that the credit really isn't the best idea from a macroeconomic perspective. In depressed economies people generally just use tax cuts to pay off debt rather that stimulate the economy. But from an individual perspective, it was certainly helpful to have that extra money for our trip to Europe! (see, I stimulated a different economy!)
I know. I was suprised at it myself. A tax credit for working? Who knew?
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