Drug & Alcohol Addiction Treatments May Be Tax Deductible
Deductions, Tax TipsArticle Highlights:
Potential medical deductions
Medical dependents
Divorced parents
Medical AGI limitations
A taxpayer is allowed an itemized deduction for medical expenses paid during the taxable year and not compensated by…
Is It Better to Have a Tax Credit or a Deduction?
Deductions, Tax Credits, Tax Refund, Tax Tips, TaxesArticle Highlights:
Itemized Deductions
Above-the-Line Deductions
Business Deductions
Asset-Sale Deductions
Refundable Credits
Nonrefundable Credits
Carryover Credits
Business Tax Credits
Tax Deductions –
In one…
Tax Deductible Expenses for Charity Volunteers
Charity, DeductionsArticle Highlights:
Charity Tax Exempt Status
General Rules for Deducting Volunteer Expenses
Away-From-Home Travel Expenses
Vehicle Expenses
Entertaining For Charity
Uniforms
Use of a Capital Assets
Conventions
Underprivileged…
2024 Standard Mileage Rates Announced
Deductions, Tax TipsArticle Highlights:
Standard Mileage Rates for 2024
Business, Charitable, Medical and Moving Rates
Important Considerations for 2024
Switching Between the Actual Expense and Standard Mileage Rate Methods
Employer Reimbursements
…
Taxes and Holiday Gift Giving
Deductions, Holidays, Tax Tips, TaxesArticle Highlights:
Watch Out for Holiday Gift Scams
Gifts with Tax Benefits
Gift of College Tuition
Gift of College Student’s Supplies
Payoff of Student Loan Debt
Clean Car Credit
Qualified Tuition Programs
Qualified…
Home Energy Improvement Credit Is Enhanced
Deductions, Environment, Finance Tips, Tax CreditsArticle Highlights:
Credit History
Credit Percentage and Annual Credit Limit
Per Item Credit Limit
Home Energy Audit
Identification Number Requirement
Other Credit Issues
Tip To Maximize The Credit
This credit goes…
Bunching Your Deductions Can Provide Big Tax Benefits
Deductions, Tax TipsArticle Highlights:
Itemized Versus Standard Deductions
Medical Expenses
Taxes
Charitable Contributions
If your tax deductions normally fall short of itemizing your deductions or even if you are able to itemize, but only…
Not All Interest Is Deductible for Taxes
Deductions, Tax TipsArticle Highlights:
Interest Categories
Category Deductibility
Interest Tracing Rules
A frequent question that arises when borrowing money is whether or not the interest will be tax deductible. That can be a complicated question,…
Ways to Maximize Business Deductions
Business, DeductionsArticle Highlights
New Business
Legal and professional fees
Spousal Joint Ventures
Self-employed Health Insurance
Home Office
Deducting the Cost of Business Equipment
Advertising Expenses
Website Costs
Financing
…
Don’t Overlook Your Charitable Contributions
Charity, DeductionsArticle Highlights:
Charitable Itemized Deductions
Bunching Deductions
Qualified Charitable Distributions
Donor-Advised Funds
Volunteer Expenses
Misconceptions
Household Goods and Used Clothing
Documenting Charitable…