Tax Deductions and Credits
Tax credits directly cut taxes while deductions and exemptions reduce taxable income. Income adjustments are additional deductions that do not require itemizing.
Federal taxationshow]. Alternative ... Federal tax reformshow] ... The applicable
basic standard deduction amounts for tax years 2006-2015 are as follows: ...
Oct 21, 2015 ... There are a variety of credits and deductions for individual and business ... The
Earned Income Tax Credit and the Child and Dependent Care ...
With tax season in full swing, and people trying to deduct all that they can, we
thought it the perfect time to highlight some strange but legitimate tax deductions.
Keep all your receipts, and add up the total amount of sales tax
you paid during the year. There's a worksheet in the Instructions for Schedule A to help you keep track of these figures.
If you're itemizing, then both of you must take either the state income tax deduc
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Here is a Tax Deductions list for Singles, Employees, Family and Home Owners.
... Federal Tax Deductions for Parents, Work, Home, School, and Travel ...
Oct 30, 2014 ... For 2015, the threshold for the kiddie tax – meaning the amount of unearned net
income that a child can take home without paying any federal ...
Sep 30, 2015 ... IRS Tax Brackets and Deduction Amounts for Tax Year 2015 ... The Federal
income tax has 7 tax brackets: 10%, 15%, 25%, 28%, 33%, 35%, ...
Jan 7, 2015 ... So if your state doesn't have an income tax, the sales tax write-off is .... so it will
not affect you negatively in relation to your federal income tax.
Need to know what is tax deductible? Find the current list of tax deductions at