LISA GREENE-LEWIS: Yes. So there are so many deductions that you could get for owning your home. So if you paid points to secure a loan, or you refinanced, you can deduct those points. Make sure you have your form 1098 in front of you that reports the home mortgage ...
LISA GREENE-LEWIS: Well, Turbotax will guide you through these deductions and credits, so you don't leave anything out. They'll ask you the simple questions about you, and they'll give you the tax deductions and credits you're eligible for. And then if you want help along the way, yo...
1. Charitable deductions Entrepreneurs who plan to itemize their taxes can claim a deduction for the charitable donations they make. If you’re interested, you’ll need to attach IRS Schedule A to your Form 1040 to claim this write-off. However, there’s a limit to the amount that you ...
As a childcare provider, you already know how important it is to provide a nurturing environment for children. But when it comes to taxes, navigating the complex world of deductions and credits can be overwhelming. As a hard-working business owner, creating a financially healthy and sustainable ...
the home office deduction was available to self-employed workers and people who had a home office for the convenience of their employer. But the TCJA eliminated most miscellaneous itemized deductions, including unreimbursed job expenses such as (you guessed it) the home office deduction. For now,...
Yes, so there are so many deductions that you could get for owning your home. So if you've paid points to secure a loan, or you refinanced, you can deduct those points. Make sure you have your Form 1098 in front of you that reports the home mortgage interest that you paid. And th...
If your business qualifies for sufficient tax deductions, this can bump you down into a lower tax bracket. That could then reduces your tax bill for the year. All expenses you can claim will count, even the small ones. That’s why it’s important to keep track of all receipts. ...
So, there are no remote worker tax deductions for the home office. If you are an eligible small business owner, you can only claim the portion of your home that you use for business. The deduction helps you cover the costs associated with your home office, such as mortgage interest, ...
Learn about employee tax deductions and how they can help you save money on your finances. Discover the various deductions available to employees and maximize your tax savings.
The Internal Revenue Service allows individuals and businesses to claim as a businessexpensethe money they pay for certain professional services, which includes legal expenses. However, to be eligible for deductions, the legal fees must be directly related to your business operations or be a part ...