Understanding Itemized Deductions We define itemized deductions as a series of expenses with which one can reduce taxable income on a tax return. It includes medical bills, interest...
Posted by Rosovich & Associates, Inc. on 05/18/2021
When someone brings up the subject of homeownership, they have to think about several expenses. Of course, the mortgage payment is one of the first things that comes to mind, but there...
Many people have hobbies like playing the piano or bead making simply for fun and do not expect any special monetary compensation from it. Some hobbies might require a couple...
Posted by KLSM CPA Firm PLLC on 03/17/2021
What are itemized deductions?Itemized deductions are a list of expenses that you can use to reduce taxable income on your federal income tax return. These include medical bills, taxes,...
In December 2017, major tax reform was launched, which concerns individuals and businesses. It is commonly known as the Tax Reduction and Employment Act, TCJA, or Tax Reform. Most...
Posted by CORE PERFORMANCE on 11/06/2020
Itemized deductions are tax deductions you receive for various expenses incurred during the year. They can sometimes exceed the standard deduction, which means that specifying the...
Posted by Don Bell Law on 06/11/2020
The most commonly asked question of a taxpayer is that whether there is a need to itemize their deductions. So this article will shed light upon some of the fundamental aspects of...
Posted by Wolf Financial Group LLC - Tax Services on 12/14/2018
Ahhh, tax deductions - of all the intricate workings of personal income tax filing, getting the most mileage out of your deductions is going to be key when it comes to saving your...
Posted by David Gollner on 01/26/2016
Tax deductions are popularly known to diminish your taxable earnings. Lesser earnings mean that you incur a small tax bill. But, the main confusion here, for many taxpayers is...
Posted by Allan J Rolnick, CPA, CTC on 01/13/2016
