New year ushers in new laws to help Bronx taxpayers save money

When Bronx residents ring in the new year, they will also be ushering in a bunch of new laws designed to save them money. New on the books for 2007 is that married couples will be able to deduct up to

News 12 Staff

Dec 31, 2006, 5:49 PM

Updated 6,358 days ago

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New year ushers in new laws to help Bronx taxpayers save money
When Bronx residents ring in the new year, they will also be ushering in a bunch of new laws designed to save them money.
New on the books for 2007 is that married couples will be able to deduct up to $15,000 on their income taxes. Separate filers can deduct up to $7,500. Parents will also find a new tax credit that legislators say will save them $600 million statewide. In an effort to entice people to volunteer as firefighters or EMS personnel, a $200 personal income tax credit is being offered.
The minimum wage will increase in 2007 from $6.75 to $7.15. All the new laws are effective January 1, 2007.


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