With healthcare being an important topic in people’s lives, it’s important to know everything possible about medical expense deductions. When certain medical services are not covered under your health insurance plan, the good news is that they may be deductible on your federal income tax retur...
There are limits on the amount of interest you can deduct based on your tax filing status and when you took out your mortgage. How much mortgage interest can be deducted? If the mortgage was taken out before Oct. 13, 1987, there is no cap or no upper limit. ...
How to Jump the Hurdle to Deduct Medical ExpensesThe law makes it hard for itemizers to deduct medical expensesnot covered by insurance. The big...By Julian BlockUnited Features Syndicate Inc
If you ever decide to take the plunge and buy a home, your mortgage will likely be the largest debt you'll ever take on. And as part of owning a home, you may be faced with fees in terms of mortgage points. However, paying mortgage points can sometimes m
If you regularly exert yourself, you will need to consume more calories to ensure your body has enough energy to power you through your workout. Similarly, you should consume fewer calories if you do not exercise as much. How many calories should I be consuming in a day? According ...
Finding a trusted friend or relative to go on the diet with you is a great way to keep you on track also. You can help keep each accountable but at the same time motivate each other in positive ways. It is much easier to take that evening walk with another person, encouraging you. ...
There are four types of travel that qualify for a tax deduction and require mileage tracking. For each category, the IRS provides standard mileage rates that define how much you can deduct on your tax return: business (67 cents per mile in 2024) ...
you may be someone who does. If the mortgage deduction puts you far enough over the standard deduction that you can itemize more expenses, you may be better off keeping it. This may be the case if you have high medical expenses orbusiness expenses that you can deduct—and/or you make si...
So just how much are Americans paying for Medicare and Medicaid, and how big a bite from your paycheck should you expect? Key Takeaways Both Medicare and Medicaid are government-sponsored health insurance plans. Medicare is federally administered and covers older or disabled Americans, while Medicai...
How Much of My Paycheck Goes to Medicare Tax? The payroll tax for Medicare is 1.45% on the first $200,000 of an employee's wages. If you make more than $200,000, you will also pay a 0.9% Additional Medicare Tax on top of the 1.45%.3You aren't the only one paying Medicare tax...