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You are here: Home / Taxes / Watch out for tax savings

Watch out for tax savings

February 4, 2009 By WRN Contributor

If you're getting ready to file your income tax returns, look for some changes this year in state and federal laws.

Penny Durham with the Wisconsin Taxpayers Alliance says there are several adjustments from the federal government. Those include a credit of up to $7,500 for first time homebuyers, an increase in personal exemptions, and a greater deduction for higher education.

On the state level, Durham says the major change is that Social Security payments are no longer taxed. 

AUDIO: John Colbert reports (MP3 :37)

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Filed Under: Taxes



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