Traditionally, taxpayers who owned homes could only deduct state and local real estate taxes if they opted to itemize their deductions. However, for the tax
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Twitter Tax Tips #7
For 2008 tax year, those who itemize can deduct state and local general sales taxes OR state and local income taxes. #TwitterTaxTip (For more on
Read MoreAsk The Taxgirl: Home Repair Expenses
Taxpayer asks: Taxgirl, where do you deduct expenses for fixing your home? My neighbor said that I can take off the cost of fixing my
Read MoreAsk The Taxgirl: Where To Report Charitable Contributions
Taxpayer asks: Hello there and thank you for answering my question. I am self-employed and contributed nearly $8,000 in cash/noncash donations this past year (goodwill,
Read MoreAsk The Taxgirl: Cash & Charitable Donations
Taxpayer asks: While we were out shopping, I put a $20 in the Salvation Army kettle in front of the store. I say we can
Read MoreCan Going Green Save Some Green?
Sigh. It’s the day after tax season. Folks are tired and cranky (trust me, I get the emails). Nobody likes to pay taxes. And every
Read MoreAsk The Taxgirl: Charity & Deductions
Taxpayer asks: Hi taxgirl, There is a woman at our church who recently lost her home in a storm. A few of us put our
Read More9 Child-Related Tax Breaks That You May Be Overlooking
In recent weeks, I’ve received a flurry of emails from parents asking about whether band uniforms, soccer cleats and other expenses related to children are
Read MoreAsk The Taxgirl: Cell Phone Deductions
Taxpayer asks: I own a single-family home as rental property out of state that is characterized as investment property on my property insurance and as
Read MoreNicholas Cage’s Deduction Claims: Gone In Sixty Seconds
Actor Nicolas Cage (whose best role – by far – was in “Raising Arizona”) has filed a petition in Tax Court disputing deficiencies alleged by
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