Donating to charity is a great idea, and may even afford you a tax deduction. It’s necessary that you keep a clear and accurate record of your charitable contributions in order to qualify for a tax deductions. You will need a hard copy record of the donation if you want to deduct it on your […]
— Read moreTaking the standard deduction may seem like the easier option when filing your taxes. However, it may not be the most valuable to you in the long run. Itemizing your deductions may lower your taxes owed. You can determine which method works best for you by figuring out the amount of each deduction method. In […]
— Read moreYou’re probably not thinking about filing next year’s taxes already, but if you start organizing your documents now, you can avoid a lot of stress and headaches when the next season comes. Tax preparation doesn’t begin on January 1st, but is instead a year-round activity that can make filing your taxes a breeze when it […]
— Read moreSaving for retirement is an important part of life. There are a variety of options you can use to ensure you have the appropriate funds to support you in your golden years. If you’ve opted to contribute to an Individual Retirement Arrangement (IRA) you should be aware of how your contributions will factor in at […]
— Read moreIf you paid someone to care for a dependent in your household within the tax year, while you either worked or sought employment, you may be eligible to claim the Child and Dependent Care Tax Credit. The Requirements You must meet certain requirements in order to claim this credit. You must have paid for dependent […]
— Read moreAs an employee of another company or business, you may qualify to deduct any expenses you paid out of pocket. Generally, you will have to itemize your deductions using a Schedule A, Itemized Deductions in order to claim allowable expenses. Follow these five tips to maximize your deduction and avoid delays in processing your return: […]
— Read moreDo you make your living as a production worker? If so, you should be aware of eligible work-related deductions that you can claim, which will lower your tax liability and help you get the most of your tax refund. Once you receive your W-2 from your employer, you can begin to prepare your tax return. […]
— Read moreFor anyone who is a PC specialist, you must acquire Form W-2, Wage and Tax Statement, through your boss. Any payments you get for providing computer solutions, away from your current regular work, may be deemed as profits coming from self-employment and is reportable on Schedule C, Profit or Loss from Business. Self-employed individuals can […]
— Read moreDo you drive a bus for a living? Being on the road, helping people get where they need to go can feel very rewarding. Reward yourself at tax time by claiming deductions which can lower the amount you owe in taxes and put more money in your pocket. If you work for a specific business, […]
— Read moreThere’s more to being a cashier than just scanning a barcode with a red laser. If you’re aware of all the tasks that a cashier does, you’ve likely been employed as one at some point. As a cashier, you are entitled to some expense deductions at tax time that can save you money on your […]
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