'Tis the Tax Season

Yes, it's that time of year when most of us begin the arduous task of completing our 2009 income tax returns. I just received a tax-planning memo from my accountant highlighting the new tax credits available under the American Recovery and Reinvestment Act of 2009.Along with a listing and description of these credits, such as First Time Homebuyer, Energy Efficiency and Renewable Energy, and Alternative or Electric Drive Motor Vehicle, my CPA added this comment:I can't refrain from getting on the proverbial soapbox to point out that the Internal Revenue Code is no longer a body of tax law, but a body of social policy. In analyzing those credits, note that each one provides society with a type of tax credit which Washington DC believes provides good public policy, provides economic stimuli, or assists lower income taxpayers (e.g., the "redistribution of wealth"). But as those credits are available, it is our responsibility to advise you of their availability.Ah yes, the Tax...(Read Full Article)