October 5, 2011
A lot of people choose to give to charities over the holidays. While giving is mostly altruistic, there are benefits to donating to charities. If you’re planning on giving this year and when the time comes to get ready for tax preparation, here are some things to consider.
March 27, 2009
Have you ever wondered what the difference is between a Tax Deduction and a Tax Credit? Read this informative article to understand the correct terminology and how it affects your Tax Return.
March 24, 2009
Many taxpayers default to the standard deduction when preparing their federal tax returns simply because they do not understand the difference between the standard deduction and itemized deductions. Read this article to find out which is best for you!
March 19, 2009
What is the difference between above-the-line and below-the-line deductions? â€œThe lineâ€ in this case is your adjusted gross income, which determines your tax rate. Read this article to find out how best to deduct for on your tax return.
March 9, 2009
Is your home office your primary place of business? If so, find out how to accurately deduct business expenses on your Federal Tax Return. Read on for more info.
March 5, 2009
Deducting property donated to a charity on your 2008 Federal tax return is a good way to reduce your taxable income and also lower the tax amount due. Read on to find out how to take advantage of this tax break.
March 2, 2009
Have you ever been required to buy something for your job that is not paid for by your employer, such as uniforms, educational materials, and office supplies? Learn how to deduct these expenses on your Federal Tax Return by reading this article.
February 27, 2009
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
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
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
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
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
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.