Wednesday, March 10, 2010

Taxing Wednesday

It was literally a taxing night. The good news is that we saw our friend and tax preparer E. again. She is delightful, knowledgeable, and has really good hair. As usual, she gave us some good tax advice that I will pass on to you for free. In Indiana, if you are a homeowner and purchase energy efficient items such as a new air conditioner, doors, furnace, and windows, you can deduct up to 30% of $5,000 worth of improvements. This is only applicable for 2010. (Some years have this option, others do not.) As a result, your total deduction could be up to $1,500. However, this does not include appliances. Also, if you are going to take classes, it is a good idea to open a c529 plan. Apparently this helps with tax deductions with supplies and tuition. This can be done through your broker or bank. (And of course, before you do any of this, consult your own accountant.) Steve and I continued our yearly tradition of going out to dinner to celebrate (or commiserate) the tax experience. This year we definitely needed comfort food, so we opted for Rulli's Italian Restaurant. Mm.


miakoda said...

Rulli's is one of those places I always mean to try but never do. What are your favorite dishes there?

Lori said...

I had the linguine lasagna. It was wonderful. Steve had the meatball sub. He liked it.

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