Standard Deductions Archives - Page 3 of 4 - FREE Yourself from IRS Problems

Shamsey Oloko June 22, 2016 Capital Gains, Capital Losses, Death Benefits, Expenses Deductions, Filing Status, Gains & Losses, Home-Related Deductions, Income Exclusions, Income Tax, Interest Income, IRA, Medical Expenses, New York Estate Tax, Roth IRA, Roth Thrift Savings Plan, Social Security Benefits, Standard Deductions, Tax Credit, Taxable Gain 0

Tax Issues for new Widows and Widowers

It’s a traumatic experience to lose a spouse. While there is little that can be done to replace this physical and emotional loss, the Tax Code provides some relief for newly widowed taxpayers. Here is a summary of some of…

Shamsey Oloko May 17, 2016 Deductions, Expenses Deductions, Income, Medical Expenses, Moving Expenses, Qualified Expenses, Schedule A, Standard Deductions, Taxable Income, Travel Expenses 0

Deduction Thresholds And Bunching Expenses

All of us as taxpayers continually think we have a lot of expenses that we can itemize and deduct to help reduce our respective tax bills. But they come, they go, all for naught and no effect. The problem usually…

Shamsey Oloko January 20, 2016 Deductions, Form 1040, Mortgage Interest Deduction, News, Standard Deductions 0

HOW MUCH OF MY MORTGAGE CAN I REALLY DEDUCT?

What can taxpayers deduct from their mortgage payments? What portion of a payment consisting of principal, interest, taxes and insurance, if any, is deductible? To deduct the expenses of owning a home, at least those costs paid in your mortgage…