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Yes, the federal
stimulus package was passed earlier this week and we are proud to report
that the Salt Water Harvest
Mouse
should be well taken care of for the next few years. Contractors are
working now to set up the marshland power grid so that the mice can stave
off the chilly San Francisco climate with space heaters and electric
blankets.
Also, California appears close to having a budget again,
which spells good news and bad news for taxpayers. The good news is that
the new budget should increase the chances of taxpayers actually receiving
their 2008 state tax refunds at some point in the future! On the flip
side, they better hang on to the refund to help pay for all the tax
increases.
Expect more news in the coming weeks on the substance of
the federal stimulus package and the California budget, and what they both
mean for your taxes and the Salt Water Harvest Mouse.
Finally, in
other tax-related news, if you didn't itemize your deductions in 2008, you
may claim an additional standard deduction for any state and local
property taxes you pay. The deduction is limited to $500 ($1,000 for a
joint return), or the actual real estate taxes you paid, if less. This
deduction is available regardless of income.
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