That Makes Cents: Tax tips

If you bought your first home in 2008, you may qualify for a first time homebuyers' credit.

Peggy Riley, IRS
"It can be up to $7,500."

If your home was foreclosed on or if you were forced to sell it for less than its mortgage, you may have some financial relief.

Peggy Riley, IRS
"You don't have to claim that debt forgiveness as incomes."

There are energy credits for going green and making energy efficient upgrades to your home like new storm doors or windows.

Peggy Riley, IRS
"It can range from about $500 up to about $1,500."

And talk to your company about a new federal incentive to ride your bike to work.

Peggy Riley, IRS
"Some employers may be offering up to $20 a month for employees to actually ride their bike to work."

And that makes cents.

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