Tax Blog

February 27, 2009
categorized as: Tax Deductions   |   Comments: 2 comments
Have you given to a charity of some type this year? Did you know that you can claim charitable cash contributions as a deduction on your Federal Tax Return? Read on to learn more about this tax break.

February 25, 2009
categorized as: Tax Deductions   |   Comments: 31 comments
Are you one of the millions of Americans who require daycare for your children? Did you know that the US government has made these services deductible, if you fit certain requirements? Read this article to find out how to take advantage of this much needed tax break.

February 23, 2009
categorized as: Tax Deductions   |   Comments: 0 comments
Did you know you are able to deduct points paid on mortgages with your Federal Tax Return? Points are charges the home buyer pays to obtain a mortgage. The amount paid for points when buying a house or when refinancing an existing mortgage is tax deductible, in most cases. Read on to find out more.

February 20, 2009
categorized as: Tax Deductions   |   Comments: 5 comments
Did you know that you can deduct fees paid for tax preparation on your Federal tax return? If you file an itemized tax return, you can deduct the costs of your purchase of any tax preparation software programs, tax publications, electronic filing costs, and preparation fees.

February 19, 2009
categorized as: Tax Deductions   |   Comments: 7 comments
Think income tax is unfair? Yes, it's true that both Federal and State governments can tax us on our income, but the IRS has tried to compensate for this by allowing us to deduct paid state income taxes on current federal income tax returns. Read on to learn more.

February 17, 2009
categorized as: Tax Deductions   |   Comments: 0 comments
Did you know that individuals can deduct state and local general sales taxes in lieu of state and local income taxes? This tax break was set to expire, but new legislation extends this benefit. Read on to find out more.

February 14, 2009
categorized as: Midwest Disaster Relief   |   Comments: 0 comments
The Midwest Disaster Relief legislation doubles the tax credit for students attending eligible institutions in the Midwestern disaster area. In addition to the tuition and fees, qualified expenses also include room, board, and books. Try our free credit calculator!

February 12, 2009
categorized as: Tax Breaks   |   Comments: 0 comments
If you are a parent you should know that you are eligible for a substantial tax credit. A new tax law passed in 2008 increases your benefits. Find out more by reading on.

February 11, 2009
categorized as: Tax Breaks   |   Comments: 0 comments
Are you an Emergency Responder or do you know someone who is? Find out about unique tax breaks for those who work for the Police, Fire Service, and Emergency Medical Services.

February 5, 2009
categorized as: Tax Credits   |   Comments: 0 comments
So, what is the difference between a refundable tax credit and a non-refundable tax credit? This is one of the most important distinctions to understand when preparing your federal tax return. Read on to find out!

February 2, 2009
categorized as: Tax Breaks   |   Comments: 18 comments
Are you a teacher or educator professional of some type? Did you know that you can deduct your out-of-pocket classroom expenses? This includes books, supplies, software, and more. Read on to find out if you can take advantage of this great tax break.