(KTVI - FOX2now.com)—
There are some changes coming to a tax law near you. And you should tack advantage of them. Elliot Weiler explained them to Tim, but hopefully, you'll pay closer attention than he did.MAKING WORK PAY: Changes in W2 withholdings--Should be in paycheck, but if not, take the credit--
CHILD TAX CREDIT INCOME LOWERED: If you make at least $3,000 you can claim the child tax credit
EARNED INCOME TAX CREDIT--Increased for people with 3 or more children and married couples filing jointly--Should ease payroll taxes
NEW CAR SALES TAX DEDUCTION--New cars purchased from Feb 16, 2009 to the end of '09--Deduct state and local taxes up to $49, 500
HOME BUYER TAX CREDIT--$8,000 for first-time home buyers for sales from Dec 31, 2008 and before May 1, 2010
$6,500 for people buying a home as long as they've lived in current home for 5 years.
