Child Tax Credit (CTC) Student loan interest deduction Taxable qualified retirement plan distributions Examples of situations not included in a simple Form 1040 return: Itemized deductions claimed on Schedule A, like charitable contributions, medical expenses, mortgage interest and state and loc...
Cormac Fitzgerald, managing partner with accountancy firmFitzgerald & Partners, says: “In general terms, you can deduct expenses that are relevant to the business. “What I say to clients is if it’s wholly and exclusively for the purpose of the business, then you can write off that as a...
your life. But I asked myself these very questions four years ago. And I realized the answer was quite easy: No, I didn’t actuallyneedany of it. I liked living in a luxury apartment building in a gated community. I enjoyed driving a newer model car. And meals at restaurants taste ...
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