Nuances and Unanswered Questions Complicate the New Deduction for Motor Vehicle Taxes
 
(03/30/2009) The recently enacted Stimulus Plan includes a new income tax deduction for state or local sales or excise tax paid on qualifying 2009 motor vehicle purchases. It sounds pretty straightforward but William E. Massey, a Senior Tax Analyst at Thomson Reuters notes that "planning nuances and unanswered questions" can cause complications for some taxpayers. These planning nuances arise from how the new deduction interacts with other tax rules, as Massey explains below in setting out the details of the new deduction.
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How Individuals Are Affected by Tax Changes in the American Recovery and Reinvestment Act of 2009
(03/25/2009) Thomson Reuters Tax Expert Examines a Number of Important Provisions The American Recovery and Reinvestment Act of 2009 (commonly referred to as the Recovery Act), which was signed into law on February 17, 2009, makes a number of beneficial tax changes for individuals. However, according to William E. Massey, Senior Tax Analyst for the Tax & Accounting business of Thomson Reuters, most of them are temporary in nature, that is, unless extended by future legislation, they apply for 2009 only or in some cases for 2009 and 2010.
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Thomson Reuters Selected as SIIA CODiE Awards Finalist
(03/25/2009) The Tax & Accounting business of Thomson Reuters is pleased to announce that three of its products have been selected as finalists for the Software & Information Industry Association's Annual CODiE Awards. The CODiE Awards represent a prestigious peer recognition program for the software and information industry.
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Employer Recovery Act of 2008
(02/25/2009) Complete Analysis of the Worker, Retiree, and Employer Recovery Act of 2008 Available from Thomson Reuters through Online "Checkpoint"
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