Dollars & Sense

TAX TIP: retirement credit and mortgage help

By Carol Hill
Posted Mar 11th 2009 3:19AM

RETIREMENT SAVERS CREDIT

If you are able to make a contribution to your IRA or 401K Plans (including elective deferral) you may be eligible for a non-refundable credit (Retirement Savers Credit) on your income tax return.

There are adjusted gross income limitations. You are eligible for a portion of the credit if you are married filing jointly and your AGI (Adjusted Gross Income) is $53,000 or less. If single, your AGI needs to be $26,500 or less.

HOME MORTGAGE HELP

Housing Rescue plan begins TODAY! You should call your lender to see if you qualify to refinance your mortgage. The new Housing Rescue plan can help people who are having trouble making their mortgage payments by refinancing their loans.

TIRED OF AUTOMATED PHONE SYSTEMS? CALL PBS AND TALK TO A REAL PERSON!

A tax tip for tax season from PBS Tax & Bookkeeping Service, your trucking specialist.
www.pbstax.com Telephone (800) 697-5153