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Enduring a taxing time

Residents navigate a trying economy

Senior Tax Advisor Richard Fontaine goes over some of the 2010 tax law changes with H&R Block employee Travis Hutchins at H&R Blockís satellite office on Main Street. Christopher Tanguay. (click for larger version)
March 08, 2010
SOUTHBRIDGE —†It's tax season again, and while some look forward to the annual bank deposit courtesy of the state and federal governments, for others the days leading up to the April 15 deadline can be stressful. Especially so if one is unsure about proper exemptions, classifications and other tax-related issues.

According to H&R Block Senior Tax Advisor Richard Fontaine in Southbridge, it can be hard to keep track of all the finite points of tax preparation given the ever-changing tax laws.

"This year, there's over 300 tax changes," Fontaine said, 10 of which will affect nearly everyone.

Some of those changes include an $8,000 benefit for first-time homebuyers, and up to $2,400 tax-free for people on unemployment. Energy credits are also available for people who make energy efficiency upgrades to their home.

"If you put an energy efficient unit in your home there's a tax credit," Fontaine said. Without knowing that, "you could be missing out on up to $1,500 per year."

See Tuesday's Southbridge Evening News for complete coverage of community news.

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