2008 Extended Tax Credits

Due to the recent passing of the Emergency Economic Stabilization, Energy Improvement and Extension, and Tax Extenders and AMT Relief Acts of 2008, the following tax credits have been extended for 2008 tax returns:

• Deduction of state and local taxes
• Above-the-line deduction for higher education expenses
• Tax-free distributions from individual retirement plans for charitable purposes
• Educator expense deduction
• Additional standard deduction for state and local real estate taxes extended for 2009 tax returns

If you have questions on how these apply to you, please do not hesitate to contact our office for assistance.