Property-Tax Deduction for Non-itemizers and Other 2009 Tax Breaks
Below is some information given to me by Erika Kuhlmeyer Dragich of Brookstone Mortgage Corporation. I found it informative and hope you will too!
You don't have to be a new homeowner in 2009 to deduct
qualifying property taxes, but prior to 2008, you did have to itemize your taxes
in order to receive the benefit – not anymore. 
Under the new rule, homeowners
who don't itemize can boost their standard-deduction amount by up to $500 if
they're single and up to $1,000 if they're married and file a joint return to
account for property taxes paid during 2009. You'll need to include a Schedule L
with your 2009 tax return, but it's definitely worth it if you qualify. Talk to
your tax preparer and don't be one of the millions of taxpayers who will claim
the standard deduction and miss out on the savings.
Refinancing
Points – When you buy a house, you get to deduct (all at once) the points
paid to get your mortgage. When you refinance a mortgage, though, you have to
deduct the points over the life of the loan. That means you can deduct 1/30th of
the points per year if it's a 30-year mortgage. It's not a lot of savings, but
everything helps when you're legally trying to lower your tax bill.
Other 2009 Tax Breaks
New Car Purchases – If you bought a
qualifying new car or truck ($49,500 or less) between February 16 and December
31st, you may be able to deduct the sales or excise tax. Your income must be
less than $125,000 for a single taxpayer or $250,000 for a couple to get the
full deduction. The benefit applies to more than one vehicle, as long as all of
them qualify and delivery was taken by Dec. 31.
Unemployment Benefits
– Unemployment benefits are usually fully taxable. If you received any
unemployment benefits at any time during 2009, however, you are eligible to
exclude the first $2,400 of these benefits when you file your tax return. For a
married couple, the exclusion applies to each spouse separately.
Moving expenses – If you were unemployed in 2009 but you got a
new job, moving expenses may be deductible, if you moved more than 50 miles away
– and you don't have to itemize to get it. For 2009, you can deduct the cost of
getting yourself and your household goods to that new area 50+ miles away, this
includes 24 cents per mile for driving your own vehicle, plus parking fees and
tolls.