Retirement, college - they're all going to have an impact on every decision you make. Several books and Web sites are available for more in-depth information on the tax law. The Internal Revenue Service already has tax forms on some of them. And most investment brokers and financial planners are familiar with the new credits, deductions and IRA programs. But you can carry the losses forward 20 years, up from 15 years.
Farmers can claim a credit for off-highway use of fuels.
After July 1, the definition of fuels includes kerosene. And you can do this every two years. Gains on the sale of a home were tax-free only if you bought another home of equal or greater value. Charity You can deduct 14 cents per mile for charity work. Previously, the amount was 12 cents a mile.