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The new tax bill and your 2010 taxes

Young woman eating slices of fruit cake in plate

Tax laws are like holiday fruitcakes. They're dense and mysteriously show up in late December.

Everybody picks at them, but they never seem to be totally consumed.

That's how it is with the tax bill signed into law last week.

The tax compromise got lots of attention for extending 2010's income tax rates for a couple more years.

But it also continues several other tax breaks that could help reduce your tax bill when you file your return next year.

I plan to keep blogging in more detail about the various ingredients provisions, both that apply to the 2010 tax year and beyond. But some other projects and assorted family/holiday tasks are calling right now.

So until I can slice the law into more digestible blog portions, here's an appetizer -- my story posted today on on how the new tax law affects your 2010 taxes.

Some heavily spiked egg nog might help it go down a bit easier.

Bon tax appetit!

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