If thrown for a loss, you can claim it on taxes.(The Providence Journal)Downing, Neil
Gambling losses are indeed tax deductible, but only to the extent of your winnings and requires you to report all the money you win as taxable income on your return. The deduction is only available if youitemize your deductions. If you claim the Standard Deduction, then you can't re...
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...
Using a personal loan ensures your tax debt is paid. This helps you avoid the interest the IRS may charge on youroverdue balance, as well as any failure-to-pay penalties. You can also avoid any tax liens, which is when the IRS stakes a claim on your property — your car or home, ...
The interest you pay on home loans -- mortgage interest -- is a deductible expense. As long as your home is either your first or second home and has a kitchen, bathroom and sleeping area, you can claim this deduction. This means that interest on loans for RVs, boats, trailers and mobi...
You can claim a boyfriend or girlfriend as a dependent on your federal income taxes if that person meets the IRS definition of a "qualifying relative."
If you have to move because of a job change, depending on how far away you have to move and how many hours you work at your job, you might be able to claim your pet’s moving expenses on your taxes. Sales tax It’s kind of mind-bending, but you can claim taxes you’ve paidon...
Section 24 of the Income Tax Act allows property owners to claim deductions of up to ₹2 lakh per financial year on the interest paid for such loans. This benefit can substantially reduce your taxable income, especially if you're in a higher tax bracket. Investing in your business ...
Several tax breaks can help you cover the high costs of education, future college expenses and interest you pay on student loans.