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WINTER 2009
Maximize Your Income Tax Savings • Property Tax Deduction for Non-Itemizers • Direct Expense Deduction up to $250,000 on Qualifying Purchases of Business Assets • 50% Bonus Depreciation on Qualifying Purchases of New Business Assets • Shorter Depreciable Life on New Farm Equipment Purchased in 2009 • Relief From Paying Tax on Debt Discharged Through Foreclosure Are you able to take advantage of the new 2008 income tax laws to maximize your tax savings? Four major 2008 tax acts create a significant number of new tax breaks for individuals and businesses such as: • First-Time Homebuyer’s Credit up to $7,500 • 0% Tax Rate on Long-Term Capital Gains and Qualified Dividend Income
• Increased Charitable Contribution Deduction Limits for Contributions to National Disaster Funds GreenStone’s Tax Specialists receive comprehensive training and testing on individual and farm income tax laws. Their “Tax Specialist” designation means they’ve passed a comprehensive tax test and that they are required to keep abreast of tax law changes through continuing professional education. They are available year-round to ...Continued on page 3
The Switch to Digital Many of you are undoubtedly already aware of the upcoming switch from analog to digital broadcast television, but here is another reminder that the date is fast approaching. The switch from analog to digital broadcast television is referred to as the digital TV (DTV) transition. In 1996, the U.S. Congress authorized the distribution of an additional broadcast channel to each broadcast TV station
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