As the economy continues to sputter, President Obama is trying to find new ways to get things back on track. While still in the early stages, it looks like his plan will include key tax breaks, which could amount to as much as $200 billion over the next couple years.

First, the plan will allow companies to write off 100% of new investment in capital and factories. Of course, all companies can deduct such purchases -- through depreciation. But it can take as much as 30 years. But the new plan would greatly accelerate the process to one year.

Despite the heated politics, business owners need to have an understanding of President Obama's $940 billion health care plan. So, I've talked with various experts on the matter.

And while things are far from set, there are some general things to consider.

Americans can expect to receive a 10% increase in their tax refunds from last year. Average refunds are $3,036, up $266.

The reason for the increase stems from the wide array of tax credits offered in the Obama administration's Recovery Act. Here are some of the credits:

• $400 for qualified individual workers, or $800 for married couples
• $2,500 credit for certain college expenses
• up to $8,000 for first time home buyers and $6,500 for repeat home buyers
• a deduction for state and local taxes on the purchase of a new vehicle
• a tax break for unemployment benefits; the first $2,500 of jobless benefits received in 2009 are not taxed.

There has been much confusion among taxpayers about exactly what the benefits are and how to file the proper tax forms to get them.

The first-time homebuyer's credit -- of up to $8,000 -- has certainly been popular. And, it's given a much-needed boost to the lagging real estate market.

But according to a report from the Treasury Inspector General last year, the program has seen plenty of dubious activity. In fact, there are now more than 107,000 civil cases in progress (even a four-year old claimed a credit!).

With the recession, the federal government implemented a variety of tax-saving programs to spur business. But as should be expected, there are limits. Might some of the tax-breaks go away next year?

To get some insight on the matter, I had a chance to talk to Michael D'Avolio, who is a senior tax consultant at Intuit (INTU). When considering any tax advice, you certainly should talk to a pro.

One of the programs which may come with the new economic stimulus package is a big tax credit for people who buy new homes. It would help potential buyers across almost every income class, which is not what was being contemplated a few days ago. According to Bloomberg, "By replacing a $7,500 tax credit for first-time homebuyers earning less than $150,000 with a $15,000 break for all income groups as part of the economic stimulus package, senators effectively are encouraging purchases by higher-income households with a reduced risk of default."

Last week, Moody's said it was reviewing debt ratings on four home builders, including Beazer (NYSE: BZH) and Hovnanian (NYSE: HOV), for downgrades. That did not do the shareholder in the companies any favors.

EWG (Environmental Working Group) found that the largest chunk of Federal subsidies for renewable energy has been for ethanol. The corn based ethanol industry received $3 billion in Federal tax credits in 2007, more than four times the $690 million in tax credits for all other forms of renewable energy including solar, wind and geothermal.

Some critics argue that Federal subsidies for corn based ethanol have not produced the results needed to solve our current energy crisis and dependency on foreign oil.

One important factor in ethanol production is water consumption. One state, Minnesota which keeps records on water consumption reports that on average it takes 4.5 gallons of water to produce one gallon of ethanol. Not included in this report is the cost in water usage needed to irrigate the corn to produce the feedstock.

Enter the environmentalists who argue that ethanol production is polluting our nation's water, eroding our soil, plowing up precious habitat and worst of all most likely contributing to global warming. There is growing concern that ethanol will not solve our growing energy problem and it was previously intended.

Should we continue with our current subsidies for ethanol?