tax deductions
8 Tax Tips for Gambling Winnings and Losses
8 Tax Tips for Gambling Winnings and Losses
Good job if you won some money during this year's college basketball championships! But don't forget that the IRS wants a cut of your winnings.
April 6, 2021
Fund Your IRA, Cut Your Taxes
Fund Your IRA, Cut Your Taxes
Now that the tax return filing deadline has been extended, there's even more time to make a 2020 IRA contribution and lower your tax bill.
March 19, 2021
What's the Standard Deduction for 2020 vs. 2021?
What's the Standard Deduction for 2020 vs. 2021?
If you're like most Americans, taking the standard deduction on your tax return is better than claiming itemized deductions.
March 5, 2021
Claim These "Above-the-Line" Deductions on Your Tax Return (Even If You Don't Itemize)
Claim These "Above-the-Line" Deductions on Your Tax Return (Even If You Don't Itemize)
If, like most people, you claim the standard deduction instead of itemized deductions on your return, there are still many other tax deductions availa…
March 5, 2021
Can You Claim the Home Office Deduction on Your 2020 Tax Return?
Can You Claim the Home Office Deduction on Your 2020 Tax Return?
People working from home because of the pandemic are wondering if they can get a tax deduction out of it. It depends on your employment status.
February 11, 2021
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Teachers Can Deduct COVID-Prevention Supplies on Their Tax Return
Teachers Can Deduct COVID-Prevention Supplies on Their Tax Return
Eligible educators can write off expenses for COVID-19 protective items that help stop the spread of the virus in the classroom.
February 4, 2021
18 Believe It or Not Tax Breaks
18 Believe It or Not Tax Breaks
Your fellow taxpayers have successfully claimed write-offs for many things that most of us wouldn't even imagine. But be careful if you plan on follow…
January 27, 2021
20 Most-Overlooked Tax Breaks and Deductions
20 Most-Overlooked Tax Breaks and Deductions
Don't miss these frequently overlooked tax deductions, credits and exemptions. Otherwise, you're just pouring money down the drain.
January 14, 2021
Charitable Tax Deductions: An Additional Reward for the Gift of Giving
Charitable Tax Deductions: An Additional Reward for the Gift of Giving
Because of the worldwide pandemic and related restrictions, your donations to charity are needed more than ever this year. And, with charitable tax de…
January 9, 2021
Most-Overlooked Tax Breaks for the Newly Divorced
Most-Overlooked Tax Breaks for the Newly Divorced
The pandemic is expected to boost the divorce rate in 2021. If you're breaking up, here are some tips to make your return to single life more tax-frie…
January 6, 2021
The Most-Overlooked Tax Breaks for Retirees
The Most-Overlooked Tax Breaks for Retirees
For new retirees—especially those on a fixed income—it's more important than ever to take full advantage of every tax break available.
December 30, 2020
11 Tax Breaks for the Middle Class
11 Tax Breaks for the Middle Class
Tax breaks aren't just for the rich. There are plenty of them that are only available to middle- and low-income Americans.
December 17, 2020
Biden's Plan to Tax the Rich Faces Roadblocks
Biden's Plan to Tax the Rich Faces Roadblocks
The president-elect is unlikely to get much on his wish list, with the Democratic majority in the House narrowed and the GOP likely keeping control of…
November 16, 2020
Tax Tip: How to Deduct Property Damage Caused by Hurricane Zeta
Tax Tip: How to Deduct Property Damage Caused by Hurricane Zeta
Get the maximum tax deduction for property losses resulting from Hurricane Zeta or other natural disasters.
October 28, 2020
What's the Standard Deduction for 2020 vs. 2021?
What's the Standard Deduction for 2020 vs. 2021?
Most Americans claim the standard deduction on their tax return instead of itemized deductions.
October 27, 2020
Tax Relief Available for California Wildfire Victims
Tax Relief Available for California Wildfire Victims
Residents and businesses impacted by the California wildfires get more time to file and pay taxes.
October 19, 2020
Hurricane Delta Victims Get More Time to Pay Taxes
Hurricane Delta Victims Get More Time to Pay Taxes
The tax relief is currently available to Hurricane Delta victims in Acadia, Calcasieu, Cameron, Jefferson Davis, and Vermilion parishes in Louisiana.
October 19, 2020
Tax Tip: How to Deduct Property Damage Caused by Hurricane Delta
Tax Tip: How to Deduct Property Damage Caused by Hurricane Delta
Get the maximum tax deduction for property losses resulting from Hurricane Delta or other natural disasters.
October 9, 2020
Retirees' Guide to Giving for the Greatest Impact
Retirees' Guide to Giving for the Greatest Impact
The need for charity is climbing, particularly to combat the rising poverty, hunger and homelessness from the pandemic’s economic fallout. Here's how …
October 7, 2020
Most-Overlooked Tax Breaks for the Newly Divorced
Most-Overlooked Tax Breaks for the Newly Divorced
Filing taxes after a divorce can add yet another problem to an already long list of challenges. But here are some tips to make your return to single l…
September 18, 2020
Tax Tip: How to Deduct Property Damage Caused by Hurricane Sally
Tax Tip: How to Deduct Property Damage Caused by Hurricane Sally
Get the maximum tax deduction for property losses resulting from Hurricane Sally or other natural disasters.
September 17, 2020
Tax Tip: How to Deduct Property Damage Caused by Hurricane Laura
Tax Tip: How to Deduct Property Damage Caused by Hurricane Laura
Get the maximum tax deduction for property losses resulting from Hurricane Laura or other natural disasters.
August 31, 2020
IRS Extends Tax Due Dates for Hurricane Laura Victims
IRS Extends Tax Due Dates for Hurricane Laura Victims
Victims of Hurricane Laura have until the end of the year to file tax returns and make tax payments.
August 31, 2020
Tax Relief for Hurricane, Wildfire, Flood and Other Natural Disaster Victims
Tax Relief for Hurricane, Wildfire, Flood and Other Natural Disaster Victims
Deductions for lost or damaged property, filing and payment extensions, and fee waivers can help taxpayers hit by a hurricane, wildfire, tornado, eart…
August 25, 2020
Do You Qualify for a $300 Tax Deduction Under the CARES Act?
Do You Qualify for a $300 Tax Deduction Under the CARES Act?
What is the new above-the-line universal tax deduction, and how does it work?
August 23, 2020