If you are amongst the tens of millions of taxpayers paying quarterly estimated taxes in 2009, there has been a change in standard deductions that you should know about.
According to the IRS, you may be able to increase your standard deduction by the following amounts:
- Certain state or local real estate taxes you pay.
- A net disaster loss attributable to a federally declared disaster.
- Sales or excise taxes you pay on the purchase of certain new cars, trucks, motorcycles, or motor homes.
