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Posts Tagged "Tax Deductions"

Deductions allowed when you do not itemize

There are lines and then there are fine lines that can be read to understand better about the available options for deductions on tax returns. Shaun and Penny, a married couple and parents of two children, wanted to make the most of the available options. They are aware that there are other tax deductions you can also deduct, in addition…read more →

Deductions allowed when you do not itemize

There are lines and then there are fine lines that can be read to understand better about the available options for deductions on tax returns. Shawn and Penny, a married couple and parents of two children, wanted to make the most of the available options. They are aware that there are other tax deductions you can also deduct, in addition…read more →

Little Known or Forgotten Tax Deductions

When we include our tax deductions, we can always remember the big four: Mortgage interest, state income taxes withheld or paid, real estate taxes, and charitable contributions. Some of the forgotten deductions are medical expenses. Starting in 2013, the floor is higher (10%) for some taxpayers. Most people believe they won’t exceed the required percentage floor, so they don’t remember…read more →

Year End Tax Savings & Deductions

Yearend is right around the corner so let’s talk about some things that we can do toward the end of the year to save on our taxes and maximize our deductions.   Deplete any Health Savings Accounts. (Submit all of your medical bills to your employer if you have a flexible savings account or health savings account.  You want to…read more →

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