Tax Deductions
The rules on deducting student loan interest
You can claim up to $2,500 in interest paid on qualified student loans used to pay for college or vocational school. NEW YORK (MainStreet)…
What’s the best tax break for childcare expenses?
Most working parents have only one way of getting a tax break on the expenses they pay for childcare – the special tax credit allowed…
Can The Windfall Tax Affect You?
The windfall tax is deceptively simple. When you receive a windfall — whether it’s an inheritance from a relative, winnings from the lottery or gambling,…
Smart move: Deduct your relocation expenses
Did you move for a job last year? You may be entitled to a deduction for your unreimbursed moving expenses.NEW YORK (MainStreet) — Did you…
Nine tax breaks you’re probably missing
The U.S. tax code clocked in at more than 73,000 pages last year. Here's what's hiding inside. NEW YORK (MainStreet) — The tug of…
Do I need my babysitter’s Social Security number?
Mary Poppins might play hard ball if you ask for her social. Here's a spoonful of tax advice to help you get her on the…
Is a live-in girlfriend or boyfriend tax-deductible?
Maybe, if she wasn’t working last year, or didn’t earn very much. A qualifying partner gives you an extra personal exemption, worth $3,800. This works…
Special rules for deducting moving expenses
There are many costs associated with moving and they can really add up fast. Fortunately, if you are moving because of a new job, or…
