Category: Below the Line Deductions

Trade And Business Deductions Killer Guidelines And Advice

Trade And Business Deductions Killer Guidelines And Advice

In order to minimize your taxes, you can subtract certain categories of expenses from your gross income. These deductible expenses are called adjustments or above the line deductions.You can claim on your tax return...

Tax Charitable Contributions – Killer IRS Guidelines And Advice.

Tax Charitable Contributions – Killer IRS Guidelines And Advice.

Tax Charitable Contributions And How To Report Them Correctly. Charitable contributions made to qualified institutions may reduce your taxable income. In order to get a tax deduction, you need to itemize your deductions.You may...

Educational Expenses – Killer IRS Guidelines And Advice

Educational Expenses – Killer IRS Guidelines And Advice

You may be able to deduct work-related educational expenses as a miscellaneous itemized tax deduction.In order to claim the deduction, the main purpose of these educational expenses must be to maintain or improve your...

Gift Expenses Killer IRS Guidelines And Advice.

Gift Expenses Killer IRS Guidelines And Advice.

Business gifts may be deductible, if they are ordinary and necessary for the course of your trade or business.You are not allowed to deduct more than $25 for each gift you made to any...

Deductions Hospital Expenses You Need To Know – Killer Advice And Guidelines

Deductions Hospital Expenses You Need To Know – Killer Advice And Guidelines

Deductions Hospital Expenses You May Qualify For. The cost of your meals and lodging are tax deductible.In order to be able claim these amounts on your medical expenses, you have to show evidence that...

Income Tax Deductions – Killer Explanation Of Federal Deductions

Income Tax Deductions – Killer Explanation Of Federal Deductions

State, local or foreign income taxes withheld from your salary are tax deductible if claimed under the itemized income tax deduction category. Income Tax Deductions You can also deduct amounts for any estimated taxes...

Tax Deductible Medical Insurance Killer Premiums

Tax Deductible Medical Insurance Killer Premiums

Tax Deductible Medical Insurance Eligibility Explained By Joe Mastriano, CPA. A deduction is allowed for medical insurance premiums within certain limits. Medical insurance premiums you pay may be included in your medical expenses as...

Tax Deduction For Mortgage Insurance Premiums Killer Guide

Tax Deduction For Mortgage Insurance Premiums Killer Guide

Tax Deduction For Mortgage Insurance Premiums May Be Tax Deductible, Let Us Explain Why. The amount of mortgage insurance premiums you pay may be tax deductible. This temporary income tax break applies for policies...

Personal Property Taxes – Killer IRS Solutions

Personal Property Taxes – Killer IRS Solutions

Personal Property Taxes (imposed on possessions other than real estate and buildings) may be tax deductible, under certain circumstances. Personal Property Tax Deduction In order to claim a tax deduction, the taxes you paid...

Real Property Taxes –  Killer IRS Explanation On The Tax Division

Real Property Taxes – Killer IRS Explanation On The Tax Division

Real Property Taxes – IRS Definition Real property taxes are generally any state, local or foreign taxes on real property. Local benefits taxes are deductible if they are for repair, maintenance or for interest...