Archive for the ‘Itemized Tax Deductions’ Category.
January 10, 2023, 4:30 pm
In IRS Tax Tip 2023-03 the IRS discusses the differences between the Itemized Deduction and the Standard Deduction.
One of the first decisions taxpayers must make when completing a tax return is whether to take the standard deduction or itemize their deductions. There are several factors ...
Click here for more February 22, 2016, 12:00 am
Most people claim the standard deduction when they file their federal tax return, but you may be able to lower your tax bill if you itemize. You can find out which way saves you the most by figuring your taxes both ways. The IRS offers these six tips to help you choose:
1. Use IRS Free...
Click here for more August 15, 2014, 12:00 am
You may be able to deduct certain miscellaneous costs you pay during the year. Examples include employee expenses and fees you pay for tax advice. If you itemize, these deductions could lower your tax bill.
Here are some things the IRS wants you to know about miscellaneous deductions:
De...
Click here for more August 14, 2014, 12:00 am
Many people change their job in the summer. If you look for a new job in the same line of work, you may be able to deduct some of your job hunting costs.
Here are some key tax facts you should know about if you search for a newjob
Same Occupation. Your expenses must be for aÂ...
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