Howell & Sullivan PLLC

Summertime can be a great time for cutting taxes.
Consider these possibilities:

* If you and your spouse work, the cost of sending your
children to a summer day camp may qualify for the
child care credit.

* Mix business and pleasure in your summer travels, and
take a tax deduction for the business portion of the
cost. That may include your lodging, meals (50%),
transportation, and incidentals such as tips.

If you or one of your family members qualifies for a stimulus payment from the IRS, here is the schedule on which the money will be delivered.

For those who filed their 2007 income tax return by April 15, 2008, the following dates apply. For those who filed later, their payment may be later. You must file a 2007 income tax return to get a stimulus payment. There is no other notice or filing necessary by you. The IRS will not call you or e-mail you for additional information.

The stimulus package that had been working its way through Congress has now been signed into law. The new law, signed by President Bush on February 13, provides $152 billion of tax rebates and business investment incentives intended to give the slowing U.S. economy a boost.

Here's what the new law contains.