The TCJA eliminated several itemized deductions from 2018 through to 2025. However, the investment interest deduction was not affected. This means that single taxpayers can claim their...
IRS Form 1099-A is an informational declaration that reports the application of a property. Homeowners typically receive an IRS Form 1099-A from their lender after their home has been...
Depreciation is negative. It is like something losing value. In the tax world, however, depreciation can translate to considerable tax savings. Depreciation means deducting the...
One of the more intricate provisions of the Tax Cuts and Jobs Act (TCJA) is the new limitation of business interest expenses. At first glance, this limitation seems simple, but the...
A student's credit card helps students pay for college needs of students without income. It is also a good idea for a student whose credit score is not enough for a regular credit...
When it comes to taxes, the federal income tax is the one that gets the most attention. However, this is far from the only money American residents pay the government. Most states...
If you want to enjoy deductions on federal tax bills, mortgage point deduction is a terrific way to claim it. At times, it is sometimes called discount points or origination points;...
Many taxpayers do not like taking the home office deduction because they fear they might raise some eyebrow from the IRS. Sadly, this is true, especially if you take excessively large...
Taxpayers use form 3903 to deduct moving expenses involved in a new job. This deduction, however, is no longer applicable to all taxpayers. A couple of years ago, Uncle Sam came up...