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NEW for 2007 ...
PMI Deduction - You may be able to deduct your Private Mortgage
Insurance on your Schedule A along with your mortgage interest.
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RESIDENTIAL ENERGY
Credits - You may be able to take the two new residential energy
credits if you made energy saving improvements to your home in 2006.
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ALTERNATIVE MOTOR
Vehicle credit - Includes fuel cell, advanced lean-burn, hybrid
and alternative fuel vehicles placed in service after 2005.
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ALTERNATIVE FUEL
Vehicle refueling property credit - 30% of cost of property
placed in service after 2005. Maximum credit is $1,000 for each
property.
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IRA CONTRIBUTION
limits raised to $4,000 and raised to $5,000 for taxpayers age
50 or older at the end of the year.
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SPLIT REFUND Option
- Refunds can be split among up to 3 deposit accounts. This is a
great tool for those taxpayers funding their IRA's with a tax refund.
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(252) 633-6430
(252) 633-9330
or
(252) 633-4289 fax
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