Ask The Taxgirl: Standard Deduction Versus Itemized Deductions
It’s Ask The Taxgirl! Today, we tackle claiming the standard deduction versus itemizing your deductions.
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It’s Time For A Checkup On Your Taxes
Did you itemize your deductions on a Schedule A last year? If so, the Internal Revenue Service (IRS) encourages you to do a quick checkup on your taxes to avoid any nasty surprises at year end.
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Taxes From A To Z (2018): L Is For Line Of Credit
It’s Taxes From A to Z! L is for Line of Credit.
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What Your Itemized Deductions Will Look Like After Tax Reform
With all of the focus on new tax rates after Congress green-lighted tax reform, it’s easy to forget that some of the biggest changes don’t have anything to do with tax rates: They’re about deductions. Here’s how Schedule A will be affected for the 2018 tax year.
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Filing Your Tax Return In 2015? You Might Want To Leave Those Medical Receipts At Home
Form W-2? Check. Forms 1099-MISC? Check. Forms 1099-B? Check. Form 1098? Check. Receipts to support charitable deductions? Check. Receipts for medical expenses? Er, you might want to leave those at home. Of all of the deductions in all of the tax world, medical expenses top the list of “tax breaks that you think you’re getting…
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Taxes From A To Z (2013): J Is For Junk Fees
J is for Junk Fees. If you’ve ever bought or sold a home, you’ve probably seen a laundry list of fees on your sale or mortgage papers. These fees, usually found at the bottom, are in addition to notary fees and appraisal fees, and are sometimes called “junk fees.” While a specific fee may be…
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11 Tax-Favored Valentine’s Day Gifts For 2013
“Love is much nicer to be in than an automobile accident, a tight girdle, a higher tax bracket or a holding pattern over Philadelphia.” – Judith Viorst, children’s author and tax activist
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Ask The Taxgirl: Property Taxes
Taxpayer asks: Where I live, you prepay property taxes by 6 months. So in 2012 I paid taxes In Jan and then in June. In July, I sold the house so at the closing I paid (I guess to the seller) the taxes for Jan-July that I occupied the house. Can I deduct these taxes…
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Paying For Summer Camp: Is Any Of It Deductible?
My son starts summer camp tomorrow. And this is what I have learned as a parent about summer camp: it’s expensive. Super expensive. Last week, I took all three kids to Dick’s Sporting Goods to stock up on camp items: shin guards, mouth guards, cleats, shin guard covers (who knew?), new hockey stick… The list…
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Taxes From A To Z: J Is For Job Search Expenses
J is for Job Search Expenses. Despite recent news that seems to hint that the job market might be recovering, many Americans are still out of work. The prospects, however, of finding a job seem a little brighter as the U.S. continues to add jobs. If you’re one of those still searching, take heart. And…
