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.
They are not all-inclusive and not all items are deductible all the time. ... Prior
year's state and local income tax you paid during the tax year (do not include ...
Mar 5, 2015 ... Tax Topics - Itemized Deductions. Topic 500 - Itemized Deductions. The following
topics are found in the category of Itemized Deductions.
... on your tax return. Here are some tax deductions that you shouldn't overlook. ...
Documents checklist. Get a personalized list of the tax documents you'll need.
Mortgage interest is a well-known tax
break for homeowners. There are income limitations that apply to this deduction
Investment interest expenses may be deductible
, such as interest paid on margin loans used to purchase stocks, bonds and other investments. More »
A tax deduction reduces your taxable income. Here is a Tax Deductions list for
Singles, Employees, Family and Home Owners.
Jan 7, 2015 ... But for 2014 returns, the state sales tax deduction option is alive and well ... For a
full list of deductible expenses, check out IRS Publication 521.
Here are 24 IRS-approved tax deductions you can\'t afford to miss out on. ... Life
insurance should be number 1 on this list. Most people forget that life insurance ...
Do you want to save the maximum amount on your tax return this year? See this
list of 14 overlooked tax deductions for ideas on what you may be leaving out.
Need to know what is tax deductible? Find the current list of tax deductions at