Subscribe to our monthly newsletter 

February 2010 Newsletter

Looking For A Lady. Running Around In Circles. And Recovering and Reinvesting. It’s Going To Be a Very Busy Year!

Wear A Crown To Work And Get Paid For It!

Do you look good in green? Do you start The Wave at sporting events? Are you a center-of-the-stage kind of person? Well then, potential Lady Liberties have we got the job for you!

Starting January 25, 2010, we are looking for one person to represent Liberty for 12 months, as “America’s Next Lady Liberty.” It is not a contest—it is a job!!

For one year from June 1-May 31, 2011, you will travel across the United States representing Liberty Tax Service, assisting with social media marketing, visiting franchisee offices events and participating in public relations events. America’s Next Lady Liberty will reach out to her audience through blog posts and social networking sites to tell everyone about your experiences throughout the year.

Submit an application, resume and introduction video about why you would be the perfect Lady Liberty. Get paid $50,000 to travel the US as Lady Liberty. Visit americasnextladyliberty.com for complete rules and information. Deadline is 11:59 pm. EST, April 15, 2010.

Liberty Tax Service and Relay for Life Walk Hand-in-Hand

For Linda Sabatic, Outer Banks LTS Marketing Manager, the fight against cancer became a personal one, when her 21-year-old neighbor was diagnosed with breast cancer. Linda jumped in and started raising money for the American Cancer Society through the Outer Banks Relay for Life activities.

Less than a year later, cancer moved even closer to Linda and her family when her two-year-old daughter, Lisa, was diagnosed with Neuroblastoma, a deadly childhood cancer. Linda, her family and friends have raised tens of thousands of dollars for cancer research through their Relay For Life Team.

Based on our overwhelming success with March of Dimes, Liberty is now helping find a cure for cancer with the American Cancer Society through Relay For Life. To participate on a national level, Liberty must commit to at least 50 teams, nationwide. In our debut year, we hope to commit 200 teams to make a difference!

Relay For Life is not simply about raising funds, but about uniting communities from the grassroots. There are many ways to participate:

• Register as a team
• Organize online fund raising
• Recognize cancer survivors
• Sell luminaries
• Collect coins

Please join us in our fight against cancer, as we work to save lives with the American Cancer Society. Watch Taxing Times for more announcements or visit relayforlife.org/relay.

The 411 on the American Recovery and Reinvestment Act of 2009

Things have been tough in the last year or so and Liberty wants to make sure you know all about the more beneficial benefits that may make things a little easier this year. Here are a few of the incentives and credits you may be able to benefit from when filing your tax returns, while you help revive our economy.

Making Work Pay Credit ($400 per person, $800 per family) This refundable credit is available to individuals who are employed or self-employed. The credit is 6.2% of earned income, up to $400 for individuals and $800 if Married Filing Jointly.

Economic Recovery Payment ($250 per person) This one-time payment of $250 was paid to individuals who receive Social Security, Tier 1 railroad retirement benefits, SSI, or VA pension or disability benefits during the period from November 2008 through January 2009.

Unemployment Compensation ($2,400) The first $2,400 of unemployment compensation is not taxable in 2009. When filing your 2009 tax return, make sure you reduce your (and your spouse's if any) reported unemployment benefits by $2,400 (but not below $0).

COBRA – Jobless individuals paying for COBRA insurance who were involuntarily terminated between Sept. 1, 2008, and Dec. 31, 2009, may receive a federal subsidy of 65% of monthly COBRA premiums for 9 months.

Additional Child Tax Credit – Lower income families with children will receive increased eligibility for the refundable portion of the tax credit for lower income families with children when they file their 2009 and 2010 tax returns.

First-Time Homebuyer Tax Credit ($8,000/$6,500) – First-time homebuyers who purchase a home after April 8, 2008, and before May 1, 2010, can receive up to an $8,000 refundable tax credit. Also, after Nov. 6, 2009 the homebuyer credit was expanded to provide up to $6,500 credit for long-time homeowners who purchase a replacement home.

Residential Energy Efficient Property Credit – Homeowners who invest in energy improvements like solar heating and geothermal pumps will receive an increased tax credit when filing 2009 to 2016 tax returns.

American Opportunity Tax Credit ($2,500) – An enhanced Hope Credit can be applied to qualified education expenses for the first 4 years of higher education. Maximum credit is $2,500, of which 40% is refundable.

Vehicle Purchase – If you bought a new vehicle after Feb. 16, 2009, and before 2010, you can get a tax deduction for the state and local sales or excise tax.

Didn’t see your favorite tax credit here? Visit your Liberty tax preparer or irs.gov for a more complete listing.

Relief Efforts Bolstered by Donations and Tax Breaks

The needs in Haiti were already at tragic levels. Now, estimates place deaths in the thousands and tens of thousands are living in the ruined streets without food, water, shelter or medical assistance. It is a desperate cry for help that has touched the hearts of Liberty Tax Service, our friends and families.

Donations and Fundraising At Local Liberty Offices

Participating Liberty Tax Service offices will offer donations for each return prepared, many of the offices are holding benefit fundraisers. There are a number of ways that individuals and corporations can make a difference, and make it quickly through Stop Hunger Now. Visit Stop Hunger Now at stophungernow.org or visit Liberty Tax Service at for more information.

Stop Hunger Now, an international relief organization co-founded by Liberty’s CEO and Founder John Hewitt is engaged in response efforts with its partners in Haiti to provide lifesaving food and supplies.

Tax Breaks for Taxpayers

In addition to in-kind donations and monetary contributions, taxpayers donating to the Haitian relief efforts can reap an immediate tax break. In a recent landmark governmental decision, donations for the Haitian relief made to IRS-approved charities before the end of February 2010 can be written off on a 2009 tax return.

“There is so much we can still do to help the Haitian people,” said John Hewitt, CEO of Liberty Tax Service. “The government has acted quickly to provide a tax incentive that can help while filing this year’s return. Liberty Tax pledges ongoing support and initiatives for Stop Hunger Now, an organization that has quickly responded to the crisis through its partnerships in Haiti.” Please join us, as we come together to ease the pain of those in need and respond to the survivors of a country facing catastrophe.