However, they require careful tracking of your eligible expenses and are often more complex to claim than the standard deduction. In this article, we’ll explore what itemized deductions are, which expenses qualify, and how to claim them on your tax return. Key Takeaways Itemized deductions ...
Typically, if you have an HSA, you're not eligible to open a regular FSA. A regular FSA is different than an LPFSA. A regular FSA lets you use pretax dollars to pay for qualified medical expenses, including dental and vision expenses.2An LPFSA lets you use pretax dollars to pay for...
How to claim tuition fees Fee payers for third-level courses can claim a tax rebate on the cost of tuition fees that are paid for eligible education courses. This means, that it is available for either the student, or the one paying for the course, so if you or your parents are paying...
When youcalculate your damagesfor your personal injury claim, you need to include amounts forpain and sufferingyou currently experience, the total cost of your medical expenses, missed wages from time off work, and other expenses. However, you should also include the costs of your future pain ...
Workers' compensation insurance: Mandatory in most states if you have employees, this insurance covers medical expenses and lost wages for employees who suffer work-related injuries or illnesses. General liability insurance: This provides coverage for third-party bodily injury, property damage and ...
Joe, thanks for your question. In this show I’ll explain the home mortgage interest deduction and clarify who’s eligible to claim it. When you borrow money to buy, build, or substantially improve your primary residence or a second home, you get a tax break. The interest paid on mortgag...
There are exceptions for certain circumstances, such as disability or medical expenses. Before you take an early withdrawal, be sure your situation qualifies as an exception. In addition to creating penalties, early withdrawals can significantly diminish your retirement savings. Explore other options for...
Your small business taxes are based on the type and structure of your business. If you recently started a small business, you might be wondering which forms you need to file and what your tax obligations are as a business owner. Check out this small busi
In the language of employee benefits, vesting refers to a milestone in which a promised benefit becomes "yours." Vesting helps a business hold onto valuable employees by requiring them to stay with the company for a few years to get the maximum benefit.
Claim the Saver's Credit If you saved in a 401(k) or IRA during the past year, find out if you qualify for the saver's credit. Rachel HartmanJan. 27, 2025 How to Start Investing and Saving Investing for the long haul with little cash on hand is doable, but you’ll need a care...