Tax Deductions Archive
Tax Deductions
For parents who are responsible for childcare, handling the cost of bringing up children can be challenging. That’s why the IRS allows you to deduct certain child or dependent …
Tax Deductions
If you have medical expenses that exceed 7.5% of your adjusted gross income, you may be able to deduct them on your federal income tax return. This deduction is …
Tax
What is the standard deduction for married filing jointly? In the United States, the standard deduction is a dollar amount that reduces the income taxes a person or married …
Tax
Ah, the standard deduction for seniors over 65, the time has come for you to stand up and take advantage of this great deduction! For 2023 the IRS standard …
Tax
The standard deduction is a tax benefit that reduces the amount of income tax you are required to pay. It was designed to simplify the tax-filing process by reducing …
Tax Deductions
The IRS dependent exemption is designed to reduce the tax burden on taxpayers who are responsible for supporting a dependent. People who have children are the most likely to …
Tax Deductions
The standard deduction is a deduction that is available to all taxpayers who do not itemize their deductions on their tax returns. For seniors over the age of 65, …
Tax Deductions
For anyone expecting to claim mileage on their taxes in 2023, it’s an exciting time. The IRS has released the new mileage rate. Let’s discuss what you need to …
Tax Deductions
Are Home Improvements Tax Deductible? Whenever you make a home improvement, such as replacing the windows or installing a brand-new HVAC system, you may be able to use those …
Tax Deductions
When people think of home repairs, they don’t generally think of doing them as a way to lower their tax liability. However, there are some ways that home repairs …
