Sunday, October 19, 2008


I Just wanted to let you know that the WHAT’S NEW FOR 2009 Page, with the various new amounts for deductions, credits phase-outs, etc that will apply to the 2009 Form 1040, is now “up and running” at

This Page includes the 2009 personal exemption, standard deductions, pension plan contribution limits, Section 179 and long-term care insurance premium deduction limits, Social Security and Medicare information, annual gift tax exclusion, etc. You can also download the 2009 Tax Rate Schedules.

I will add new information for 2009 to this page as it becomes available.

1 comment:

crestcap said...

I'm personally most disappointed with the 2009 Section 179 deduction limitations http://www.Section179.Org

$133,000 is the maximum deduction allowed on purchases not exceeding $530,000.

That is a reduction of $117,000 compared to the $250,000 deduction allowed for 2008; and there has been no legislation extending the 50% bonus depreciation deduction through 2009.