This issue of the Tax Update Newsletter provides a summary of key changes to the tax code for 2008 and offers ideas to help you reduce your taxes.
In addition to the preprogrammed changes discussed and charted to the right, three federal tax laws passed in 2006 could result in substantially more tax savings when your 2007 tax return is filed. Here is a summary of some important changes for 2007 that apply to many clients.
Local Maryland Tax News HeadlinesMaryland and IRS Ready for Today's Start of Tax Season Bay Net Maryland, IRS ready for Jan. 27 start to tax season MyEasternShoreMD Maryland lawmaker proposes tax credit for those with long commutes, no access to transit WTOP Maryland Governor Proposes Major Tax Cut for Retirees Kiplinger's Personal Finance Should The Wealthy Pay More Income Taxes? Debate Divides Maryland Democrats WAMU 88.5