miscellaneous expenses

Most Confusing Parts Of The Income Tax Code, Part 3: Retirement Accounts

Many provisions of the Internal Revenue Code are complicated. Proper interpretation of the rules and regulations contained in these provisions requires the assistance of an experienced and knowledgeable tax professional. The third part of our series about the most confusing provisions of the Internal Revenue Code addresses retirement accounts.

There are over a dozen different tax-advantaged retirement savings accounts, each with its own set of rules governing contributions, distributions and when money may be withdrawn without incurring any penalties.

Why Is It Confusing?

  • There are a large list of incentives from which to choose

The Most Overlooked Tax Deductions, Part 5

Many taxpayers overlook the long list of deductions that they may take when completing and filing their tax returns. The tax professionals at the Thorgood Law Firm can help ensure that all taxpayers take advantage of any and all deductions that may apply to them.  Here is the fifth part of our multi-part blog on the most overlooked tax deductions:

LEGAL INCOME & FEES AS DEDUCTIONS

Jury pay paid to employer

Tax Benefits For Education Part 4

This is the fourth part of our multi-part series of blogs on tax benefits for education. Any present or former student should utilize the knowledge, experience and expertise of the tax professionals at the Thorgood Law Firm to ensure that they take advantage all the credits and deductions that the law allows for students of higher education.

Tax credits, deductions and savings plans offer taxpayers ways to reduce their expenses for higher education.

  • A tax credit may reduce the amount of potential income tax.
  • A deduction reduces the amount of income that is subject to tax, thus reducing the amount of tax paid.

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