The Standard Deduction vs. the Itemized: Which Is Best For You?

itemized vs. standard deduction taxesIncome taxes are a huge expense to many Americans, so looking for ways to reduce taxes can make a difference.

One of the biggest tax breaks that you get is being allowed to take either a pre-determined amount off your taxable income, based on your filing […]

Bump Up Your Refund With These Little Known Tax Deductions

Federal tax deductions to bump up your refundIf you’re a receipt hoarder, tax time is like Christmas. There are so many items that can be deducted, and each year the list grows even longer. There may even be many expenditures that you have that you […]

File After Feb 13th If Deducting Education or Sales Taxes for 2010

irs tells itemizers to wait to fileAs in previous years, the 2011 tax filing season begins in January for most individuals but about 9 million taxpayers will have to wait longer to file. The Tax Relief Unemployment Insurance Reauthorization and Job Creation Act of 2010 made some sweeping tax […]

Mortgage Interest Deduction and More Is Potentially In Jeopardy

People love tax breaks and benefits like mortgage interest tax deductions, child tax credits, and pre-tax hemortgage interest tax deductionalth insurance plans – but the White House indicates that the tax deductions and tax breaks is costing the government about $1 trillion per year. These deductions and tax breaks, […]

Top Small Business Tax Deductions

small-business-tax-deductionsMaking legitimate tax deductions can render small businesses more profitable. By paying attention to IRS rules on deductible expenses, such benefits as combining a business trip and family vacation can become a legitimate business expense.

Consider and review the following top business tax deductions:

Vehicle Expenses

If the business has its […]