Medical expenses can be cited as an itemized deduction on your tax return. In order to itemize deductions, you must forgo the standard deduction. That means it only makes sense to itemize if all of your itemized deductions -- medical expenses, charitable contributions, taxes besides federal taxes...
Medical expenses can be cited as an itemized deduction on your tax return. In order to itemize deductions, you must forgo the standard deduction. That means it only makes sense to itemize if all of your itemized deductions -- medical expenses, charitable contributions, taxes besides federal taxes...
CBS News Miami's Anna McAllister reports on what you can do if your health insurance claim is denied.
Learn how to deduct mileage on taxes. Understand the IRS rules for business-related mileage deductions, including how to track your miles and calculate your deductions to save money.
Attorney fees can be claimed based on the amount A. estimated B. agreed amount C. paid D. all of the above Legal fees: Legal Fees refer to the higher full indemnity or lawyer and own client-attorney costs, charges, and expenses, as decided without ...
You don’t have to be a business to claim a bad debt on your taxes. If you loaned money or paid for a service you didn’t receive, you can claim the loss on your taxes as a nonbusiness bad debt reduction. You have to be able to prove the debt, prove you made good faith attemp...
Mortgage interest on a second home is tax deductible within the same limits as the mortgage on your first home. Property taxes paid on additional homes can also be tax deductible, regardless of the number of homes you own. If you rent out your second home for 14 days or fewer duri...
However, these additional wages are not subject to Social Security, or Medicare (FICA), or Unemployment (FUTA) taxes if the payments of premiums are made to or on behalf of an employee - The bottom line is that in order for a shareholder to claim an above-th...
Not everyone who is unemployed is eligible for unemployment benefits. Unsurprisingly, there are a lot of rules surrounding who can claim it, but in general, qualifying for unemployment is based on why the employee was let go. To be eligible, an individual must be out of work for reasons bey...
Claim Capital Losses If you havecapital lossesthat exceedcapital gains, you can apply up to $3,000 against ordinary income. This strategy is often overlooked as a way to reduce MAGI. Claiming capital losses is complex, and the IRS has rules that you must follow. Consult your tax advisor to...