Tax Deductible Items
Are you thinking about the last financial year, where you paid a lot in taxes, when you could easily have saved that? Then tax deductible items are what you should be looking for. Here we give you a few options which you can show...
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IRS Tax Deductions List
There are quite a few tax deductions that any individual can avail of. The IRS tax deductions list is communicated to the taxpayers by the way of publications and topics that are included in the tax filing laws and regulations.
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Are Closing Costs Tax-deductible?
There is common query among many taxpayers and would-be-home owners, whether closing costs of a loan are partially or completely tax-deductible? The direct answer is yes and no, simply because some closing costs are tax-deductible,...
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Unusual Tax Deductions
People do go to extreme lengths to protect their money from the taxmen, and justifiably so. Weren't you always under the impression that the taxmen and their ilk would never suffer fools gladly? Well, usually they don't, but when...
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Tax Deductions for a Truck Driver
Truck driver taxation
Truck drivers are subject to certain deductions in taxes given their nature of work. The Buzzle article below lists down the tax deductions for a truck driver.
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Are Insurance Settlements Taxable?
Fact about insurance settlements
An insurance settlement is the payment received from your insurance company against your claim. This Buzzle article discusses whether insurance settlements are taxable or not.
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Most Overlooked Tax Deductions
Tip about Roth IRA plan
Despite wanting to save as much money as possible while paying taxes, there are several deductions that we often do not apply for, simply because we are not aware of the provision. Here, we have provided a list of commonly...
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Tax Deductions for Individuals
Tax is a fee collected by governments across the globe. Tax deductions for individuals include certain categories of income and expenditures that are not taxed by the government.
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Home Improvement Tax Deduction
With the financial year coming to a close, people start wondering about the different tax deductions they could file for. Home improvement tax deduction is one that people use while filing for their annual tax return.
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Home Equity Line of Credit Tax Deduction
What is home equity line of credit? What is tax deductible mortgage interest? The following article deals with the interest on home equity line of credit and tax deductions for home mortgage interest.
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How Are Lawsuit Settlements Taxed
There is a general perception that lawsuit settlements are not taxable, which in reality is absolutely not true in all cases. If you happen to win compensation for injury negligence, or other wrongdoing, and choose to accept a lump...
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Tax Deductions for Homeowners
Taxation and real estate are two factors of any economy that clash during the financial year-end when every possible individual and organization is busy filing their tax return. Tax deductions for homeowners are some very important...
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IRS Mileage Reimbursement Rules
If you are on the lookout for information on mileage reimbursement rules for 2012, you have landed on the right page.
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List of Tax Deductions
There are several different tax deductions that one can avail while filing a tax return.
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Are Lawsuit Settlements Taxable?
The Internal Revenue Service (IRS) has laid down certain guidelines regarding the tax provisions in case of lawsuit settlements. The rules state that the settlement will be taxable only if the plaintiff has received a physical...
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Tax Breaks for 2012
Come the month of January of every year, we do two very important things: one, make a resolution (which is almost never followed) and two, start searching for tax breaks (which unfortunately are less in number). Here is a brief,...
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Tax-Deductible Donations
In this article, we will take a look at which donations are tax-deductible so that you can plan out your tax deductions. Read on to know about minimizing your tax returns through donations to various charitable organizations.-
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Tax Write-Offs for Small Businesses
There are several tax write-offs which are available for small business firms. In this article, some of them, which are provided by the IRS, have been discussed. To know more, read on.
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Charitable Donation Receipt
Providing a charitable donation receipt is essential for donors to file for charitable contribution deductions in the process of filing income tax returns. Provided here is a sample of such a receipt and what goes into one.
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Is Mortgage Loan Origination Fee Tax Deductible?
In most cases mortgage loan origination fee is tax deductible, though there are some rules to be followed in order to make it tax-free. Here we try to find out the criteria that enables tax deduction.
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How to Deduct Business Mileage
You can claim a tax deduction for the business use of an owned or leased car. If you have never claimed this type of a tax deduction before, this article explaining deduction of business mileage will be a helpful read.
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Unreimbursed Business Expenses
In the following paragraphs, the accounting treatment and the tax treatment of unreimbursed expenses has been explained based upon the guidelines, laws and rules which are put forth by the IRS. To know more about such deductions,...
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Alimony Recapture Rule
In the following article, the recapture rule for alimony has been discussed. The recapture rule becomes applicable in some cases, which makes it imperative for an individual to follow some rules and regulations about tax deductions...
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IRS Deductions for Clothing Donations
IRS offers a range of tax deduction options which can help you cut down your total tax debt. In this article, you will find information about tax deductions for clothing donations and the guidelines provided by the IRS to claim them.
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What Home Improvements are Tax Deductible?
In this Buzzle article, some key and common channels with the help of which you can claim deductions for home improvement have been explained.
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Tax-Deductible Business Expenses
As the tax payment date closes in, calculation of deductions and rebates become the top priority. Learn all about these tax-deductible business expenses from this article.
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Tax-Deductible Moving Expenses
If you are wondering what exactly are moving expenses and how do they qualify for tax deduction, this article may be useful for you. Read on to know the requirements to qualify for tax deductions and how to claim it.
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Tax Deductible Medical Expenses
Refer to this list of medical expenses, which are considered deductible while filing for tax. Everyone wants to save whatever little they can after all.
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Rental Property Tax Deductions
Tax deductions for rental property imply two concepts, namely deductions for the landlord on income received from this property, and secondly, the property that a tenant uses. Here, an explanation based upon the guidelines set by...
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Is Alimony Tax-Deductible?
Alimony is a maintenance sum that comes into picture in cases of legal separation or divorce. But is it tax-deductible? Read through this article to know more on this subject.
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Home Business Tax Deductions
If you run a small business from home, you may be entitled to certain tax deductions, provided you satisfy the requisite conditions. In this article, we will look at this IRS clause in more detail.
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Exemptions on Tax Return
Worried about exemptions on tax returns for the next financial year? You don't need to be, here we give you a description of what are exemptions on tax return and the ways in which you can claim exemption. Read on...
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What do Charitable Contributions Tax Deductions Mean?
When the fiscal year approaches its end, there are several tax deductions that can be availed by tax payers. Tax exemption under charitable contributions is an uncommon but lawful and valid ground for tax deductions.
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Sales Tax Deduction for Vehicle Purchases
Looking for whether you can apply for the sales tax deduction on buying a new vehicle? Here's some information on new vehicle sales tax deduction that will help assess if you are applicable for it...
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Itemized Deductions Vs. Standard Deductions
When the fiscal year comes to an end, people start filing their income tax returns. One issue that tends to put people into a serious dilemma is itemized deductions and standard deductions. Here, we try to understand both the...
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Is Rent Tax Deductible?
As the fiscal year comes to an end, individuals and organizations start putting together all their yearly accounts for filing income tax returns. An individual who lives in a rented accommodation can avail rent deductions, provided...
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Tax Write-Offs for Individuals
There are numerous tax exemptions that individuals and organizations can avail while filing their income tax returns. Here, we provide a list of tax write-offs or exemptions, that are excused by the government, and can be availed...
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What are Tax Shelters?
Tax shelters are 'sheltering' methods adopted by individuals and businesses to effectively reduce that part of their income which is taxable. This in turn helps them reduce the payments due to various tax collecting entities and...
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