When you work from home, whether you are telecommuting and doing work for an employer, or whether you are running a home business, you may have the option to take a tax deduction for the business use of your home. The home office deduction can be useful, but […]
Most of us want to give in order to help others. Charitable donations, whether they are in the form of cash, investments, or goods, can help others, and allow us to feel as though we are contributing in a meaningful and positive way.
Another benefit is that you can […]
An itemized tax deduction is a qualified expense by which a US taxpayer can claim on their Federal tax returns in order to lower their taxable income. Many tax deductions are subject to the 2% limit, which means you can only deduct expenses that are […]
Many of us wonder, as we prepare our taxes, whether or not some of our expenses are deductible. A tax deduction offers you the chance to offset some of your income, reducing your taxable income and what you owe in taxes. However, some tax deductions are harder to categorize than […]
The current economy is changing the makeup of our households. With unemployment high, many are finding that they are supporting relatives and non-relatives alike by allowing them houseroom.
While you might be allowing someone in need of help to live with you out of the goodness of […]