Lower Adoption Costs in 2011 & 2012 With the Adoption Tax Credit
When you are in the process of adopting, it seems like there is always another bill to be paid. Travel expenses, home study fees, court costs, and more keep piling up. The IRS offers an adoption tax...
View ArticleTheft and Casualty Tax Deduction Details 2011
2011 was an eventful year, filled with a few natural disasters such as earthquakes, hurricanes, tornadoes and more. It’s never fun to lose money due to a disaster, or to theft. However, you can...
View ArticleIs that Charitable Donation Tax Deductible?
When we think of giving to charity, we often consider our largess to have a financial benefit – it’s tax deductible. Being able to reduce your taxable income, with the help of a charitable donation,...
View ArticleDoes Your Roommate Qualify As a Tax Deduction?
The current economy is changing the makeup of our households. With unemployment high, many are finding that they are supporting relatives and non-relatives alike by allowing them houseroom. While you...
View ArticleHow to Itemize Miscellaneous Tax Deductions
Many of us wonder, as we prepare our taxes, whether or not some of our expenses are deductible. A tax deduction offers you the chance to offset some of your income, reducing your taxable income and...
View ArticleTax Deductions That Can Be Taken Without Itemizing Your Return
An itemized tax deduction is a qualified expense by which a US taxpayer can claim on their Federal tax returns in order to lower their taxable income. Many tax deductions are subject to the 2% limit,...
View Article5 Tips for Taking a Tax Deduction for a Charitable Donation
Most of us want to give in order to help others. Charitable donations, whether they are in the form of cash, investments, or goods, can help others, and allow us to feel as though we are contributing...
View ArticleShould You Take the Home Office Deduction?
When you work from home, whether you are telecommuting and doing work for an employer, or whether you are running a home business, you may have the option to take a tax deduction for the business use...
View ArticleBuilding a Tax-Efficient Investment Portfolio
You know that “nothing is certain except death and taxes,” as Benjamin Franklin once said. This is true whether you have earned income from a job, or whether your income is the result of financial...
View ArticleUsing a Donor-Advised Fund to Get a Tax Break
You probably know that you can get a tax break when you donate to certain causes. You can even donate a stock or other asset to charity and get a tax deduction. However, it’s possible to go beyond just...
View ArticleDeductions vs. Credits: What You Need to Know
As you prepare your taxes this year, it’s important to understand the key differences between certain tax breaks. Knowing how deductions and credits work can help you make more informed choices about...
View Article4 Tax Breaks that are Crazy — And Legit
When we think of tax breaks, we normally think of the boring things we all claim: charitable contributions, Earned Income Credit, and mortgage interest. We might think about our business expenses, or...
View ArticleHow to Deduct Meals and Entertainment on Your Taxes
Most of us regularly look for tax advantages that allow us to reduce our liability. When you’re self-employed, this can be an especially important move to make. There are a number of tax deductions you...
View ArticleBuilding a Tax-Efficient Investment Portfolio
You know that “nothing is certain except death and taxes,” as Benjamin Franklin once said. This is true whether you have earned income from a job, or whether your income is the result of financial...
View ArticleUsing a Donor-Advised Fund to Get a Tax Break
You probably know that you can get a tax break when you donate to certain causes. You can even donate a stock or other asset to charity and get a tax deduction. However, it’s possible to go beyond just...
View ArticleDeductions vs. Credits: What You Need to Know
As you prepare your taxes this year, it’s important to understand the key differences between certain tax breaks. Knowing how deductions and credits work can help you make more informed choices about...
View Article4 Tax Breaks that are Crazy — And Legit
When we think of tax breaks, we normally think of the boring things we all claim: charitable contributions, Earned Income Credit, and mortgage interest. We might think about our business expenses, or...
View ArticleHow to Deduct Meals and Entertainment on Your Taxes
Most of us regularly look for tax advantages that allow us to reduce our liability. When you’re self-employed, this can be an especially important move to make. There are a number of tax deductions you...
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