Itemizing Deductions—What You Can and Cannot Deduct
If it’s tax time, you are certainly looking for deductions. There are many legitimate deductions that include certain medical expense, unreimbursed employee expenses and even tax preparation fees.
If it’s tax time, you are certainly looking for deductions. There are many legitimate deductions that include certain medical expense, unreimbursed employee expenses and even tax preparation fees.
Low-and moderate income workers who contributed to a retirement plan, such as an IRA or 401(k), may be able to take the savers credit.
Did your home’s pipes burst after a hard freeze? Winter storm damage may or may not be covered on your homeowner’s policy. Read more in this Insurance Tip.
Deducting travel and business expenses can be hard to keep up with. Luckily, the IRS will allow you to deduct unreimbursed expenses on a per-diem method.
Ever wonder how many days in a year you have to work to fulfill your income tax obligation? Wonder no more.
Social Security has transformed many times since 1935 becoming more than just continuing income for the retired worker.
The recipient of a gift or a bequest pays no gift or estate tax. If taxes are due, they payable by the donor (the person making the gift) or the estate in the case of a decedent.
Long-term care can be very expensive. Long-term care insurance can help preserve assets rather than using your wealth for your medical expenses.
The Section 179 election makes it easier for small and medium-sized businesses to purchase new business equipment.
Dependent children may have to pay taxes too if their earned or unearned income exceeds a certain limit. Under certain circumstances, it can be reported on the parents’ return rather than their own.