itemized deduction
Tax Relief Act Offers Many Income-tax-saving Opportunities for Individuals
The extension of the lower income and capital gains tax rates set to expire Dec. 31, along with significant reductions to the estate tax, has probably received the most media coverage. But the Tax Relief, Unemployment Insurance Reauthorization, and Job … read more
Married Filing Jointly or Married Filing Separately?
Is it more advantageous for married couples to file income tax returns jointly or separately? Unfortunately, the answer is not as simple as it may sound. When filing separately, some credits and deductions are not allowed. These include earned income … read more
Legal Fees: Are they Deductible on Your Tax Return?
Have you been incurring legal fees? They can add up fast… so the question is: are they deductible on your tax return? The most important factor in determining deductibility of personal legal fees is the purpose of the legal fees … read more
Paying Income Taxes with your Credit/Debit Card
We all hate paying income taxes, right? The IRS knows this so they made it easier to pay income taxes through the use of credit/debit cards. The IRS says paying this way is convenient – taxpayers can file their tax … read more