According to an IRS news release, taxpayers who qualify for the Section 36 first-time homebuyer credit and purchase a home before 12/1/09 can claim the credit on their 2008 tax returns due on 4/15/09 or on their 2009 tax return filed next year. Following changes by the recently enacted American Recovery Act, they do not have to repay the credit, provided the home remains their main home for 36 months after the purchase date. They can claim 10% of the purchase price up to $8,000, or $4,000 for married individuals filing separately. However, the new law does not affect people who purchased a home after 4/8/08 and before 1/1/09—the maximum credit remains 10% of the purchase price, up to $7,500 or $3,750 for married individuals filing separately, and the credit must be repaid in 15 equal annual installments beginning with the 2010 tax year. News Release IR-2009-14 .

One of the negative aspects of buying a new car is the annoyance involved with getting rid of your old car. Many individuals find the trade-in allowance offered by dealers (if any) to be well below the car's true value. But the alternative of selling the car on your own involves the expense of advertising as well as the commitment of time needed to meet with potential buyers, accompany them on test drives, negotiate a fair price, etc.

A weight-loss program is a deductible medical expense only if you participate in the program as treatment for a specific disease diagnosed by a physician.

Local transportation refers to travel in which you aren't away from your tax home (the city or general area in which your main place of business is located) long enough to require sleep or rest. Different rules apply if you are away from your tax home for significantly more than an ordinary work day and need sleep or rest in order to do your work.

The IRS standard mileage rate for 2009 will be 55.0 cents per mile for business miles driven.  This rate is higher than the first half of 2008, but lower than the second half of 2008 due to the spike in gasoline prices in 2008 that are now trending downward.  The rate for medical or moving expenses will be 24.0 cents per mile while the rate for providing services for a charity will remain at 14.0 cents per mile. [see Revenue Procedure 2008-72]