No major changes in store for taxpayers this year
Published 12:00 am Wednesday, January 19, 2000
DANIEL TYLER GOODEN / L’Observateur / January 19, 2000
LAPLACE – They say the only thing sure in life is death and taxes.
Unfortunately the latter comes every year.
As always there are new tax laws that will affect the River Parishes.
However, this year’s changes aren’t too radical.
Gwen Kennedy, manager at H&R Block in LaPlace said, “The changes are moderate in comparison to last year’s sweeping reforms.” According to Kennedy, the child tax credit has increased. Also there aretwo different deductions for business mileage. The deduction changed inApril, leaving two different rates to take into account.
Every year new legislation is passed concerning taxes, often in the middle of the year.
“That’s why it’s so important to keep good records throughout the year,” said Kathy Burlson, manager of tax operations field training for H&R Block.
Though the deadline to have your taxes in is still four months away, it’s a good idea to start organizing and gathering your information for filing.
A few of the many income records you should gather include W-2 forms, interest and dividend statements, sale of property records, retirement benefits, gambling and lotto winnings, rents and royalties, scholarships and jury duty pay.
For deductions or credits find your records on home mortgage interest, retirement plan contributions, business mileage, real estate and personal property taxes, medical expenses, union and professional dues, alimony paid, moving expenses and casualty and theft losses.
For a complete list contact a local tax accountant.
For those who like to block out the idea of taxes until the last week, you have three more days this year to let slip through your fingers. One extraday is given to leap year. And April 15 falls on a Saturday, so the deadlineis pushed back to April 17.
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