Tax Deductions
Tax Credit vs Deduction
Use Tax Breaks to Lower Your IRS Bill As you probably know, tax credits and tax deductions can help reduce your overall income tax liability.…
Types Of Tax Deductions
[video width="1280" height="720" mp4="https://www.irs.com/wp-content/uploads/2025/03/Essential_Tax_Deductions_Explained.mp4"][/video] An Overview of the Types of Tax Deductions & How to Claim Them on Your Return With the ever-changing tax laws…
IRS record-keeping rule: What receipts to save in substantiating charitable donations
A fairly recent record-keeping rule has been a surprise for many audited taxpayers. The IRS has tightened up a number of taxpayer loopholes in the…
Take advantage of tax deductions for business travel and entertainment
When entertaining clients or traveling on business, you may be eligible for Federal income tax deductions on a portion of your expenses that are not…
You can deduct your job-seeking expenses
NEW YORK (MainStreet) — Were you unemployed in 2012 and looking for work? If you itemize, you can deduct job search expenses to look for…
Deduct your job-related expenses
You can get more mileage out of your salary by deducting these work-related expenses.NEW YORK (MainStreet) — If you can itemize, you can deduct as…
Deduct your state unemployment and disability contributions
Residents of seven states have to look out for this.NEW YORK (MainStreet) — Most taxpayers are aware that state and local income taxes are deductible…
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)…
