🚀 go-pugleaf

tax services along the front range...15 yrs expierence w/local
references....
www.richard.bonilla.com
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Individual taxpayers may still elect to deduct either state and local
income taxes or state and local general sales taxes as an itemized
deduction. Look for Publication 600, which will include the state and
local sales tax tables and instructions for claiming the sales tax
deduction.

For 2006 only, taxpayers are eligible for the Telephone Excise Tax
Refund, which is designed to refund previously collected long-distance
telephone taxes. The refund is available to anyone who paid such taxes
on a landline, wireless, or Voice over Internet Protocol service. And
so that we all don't have to go digging for old telephone bills, the
IRS is offering a standard refund amount that ranges from $30 to $60.

How much you get is based on the number of exemptions you claim on your
tax return. The standard amount is not available to businesses and
nonprofit groups, which must base their refund on the actual amount of
tax paid. Just as a reminder, the maximum limit for a 401(k) plan, a
tax-sheltered 403(b) annuity, a salary reduction simplified employee
pension (SEP) plan, or a government-sponsored 457 plan increases to
$15,000 in 2006. People age 50 or older can make additional catch-up
contributions to their plans of $5,000 in 2006.

Beginning in 2006, there are new energy-saving tax credits. The credit
is subject to a lifetime limitation of $500.

For the first time, you can divide your refund and have it deposited in
up to three separate accounts. This includes having the money sent
directly to a retirement account such as a 401(k) or an Individual
Retirement Account. To have your refund divided, you have to complete
and attach to your federal income tax return Form 8888, "Direct Deposit
of Refund to More Than One Account."

The latter change may be welcome among many couples who file jointly.
I've encountered quite a few spouses who learn - after the fact - that
their husband or wife spent the joint tax refund without their
knowledge. Spouses who keep separate accounts can now split the refund
before the money comes into the household.