Tax Season Is Upon Us..!

Greetings, 
 The info below is copy/pasted from IRS.gov. 
Should I ever make enuf to pay taxes, I promise to include fun and profitable tax shelters here. Thanks!

Businesses and Self Employed

Credits & Deductions for Businesses

Businesses and Self Employed


Manufacturers' Energy Efficient Appliance Credit

Act Section 305 - Modifications of Energy Efficient Appliance Credit for Appliances Produced After 2007


Plug-In Electric Drive Vehicle Credit (IRC 30D)
Plug-In Electric Drive Vehicle Credit (IRC 30D) - Internal Revenue Code Section 30D provides a credit for Qualified Plug-in Electric Drive Motor Vehicles including passenger vehicles and light trucks.


Research Credit
Guidelines and audit technique guide are provided for field examiners on the examination of Research Credit cases.


Deducting Business Expenses
Find out what qualifies as a deductible business expense, including depreciation.


***Abusive Tax Shelters and Transactions***
The Internal Revenue Service has a comprehensive strategy in place to combat abusive tax shelters and transactions. This strategy includes guidance on abusive transactions, regulations governing tax shelters, a hotline for taxpayers to use to report abusive technical transactions, and enforcement activity against abusive tax shelter promoters and investors. 

PART II: 

For Individuals:
What Is a Tax Credit?



Subtract tax credits from the amount of tax you owe. There are two types of tax credits:
• A nonrefundable tax credit means you get a refund only up to the amount you owe.
• A refundable tax credit means you get a refund, even if it's more than what you owe.
What Is a Tax Deduction?
Subtract tax deductions from your income before you figure the amount of tax you owe.
Credits for Individuals
• Family and Dependent Credits
• Income and Savings Credits
• Homeowner Credits
• Health Care Credits
• Education Credits


Deductions for Individuals
• Work Related Deductions
• Itemized Deductions
• Education Deductions
• Health Care Deductions
• Investment Related Deductions