Slash your tax bill

New rules and a new President have changed the tax game. Use these strategies to save on your 2008 bill - and reap even bigger savings in the years to come.

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9. 2009 and beyond: Stay vigilant
<b>2009 and beyond:</b> Stay vigilant
Come April 15, all you want to do is bury those tax files and forget about them for another year. But keeping an ear out for upcoming changes could pay off. There's the possibility of an income tax credit, which would reduce paycheck withholdings by as much as $500 and $1,000 for singles and couples who meet the income requirement. Also under consideration: a provision that would allow taxpayers to take up to a $2,500 tuition credit (in lieu of the current deduction for college tuition). Finally, there may be changes to the home buyer credit: it could be increased to $15,000, expanded to all buyers, and the repayment requirement may be waived.

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Last updated March 02 2009: 9:16 AM ET
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