Economic Stimulus 101: What You Need to Know
After months of preparation the 2009 stimulus package is moving into full swing. But before we assume you know everything you need to know about the stimulus package, here's one final look at the elements that taxpayers can take advantage of:
YOUR GUIDE TO THE 2009 STIMULUS
- The New Stimulus Tax Credit: This tax break puts up to $400 in your pocket.
- New Car Sales-Tax Deduction: Car buyers have till the end of the year to grab this above-the-line deduction.
- Better Benefits for the Unemployed: Qualified filers get an extra $25 a week.
- New Homebuyer Credit: Take up to 10% off your purchase price.
- Health-Care Subsidy: for the Unemployed Now there's extra help for paying COBRA coverage.
- AMT Tax Relief: Taxpayers get a one-year fix on the alternative minimum tax.
- College Aid Gets Fresh Funding: Rather than introduce big new ideas, this bill mostly replenishes underfunded programs and increases amounts available to families.