The special itemized deduction for mortgage insurance premiums paid on mortgages taken out after 2006 expires on Dec. 31, 2014.Credit for Energy-Saving Home ImprovementsThe 30 percent tax credit of the cost of energy-saving home improvements was extended by the Tax Relief Act of 2010 through ...
$2M for Police, Fire Retirees; Year-End Bonuses Are Financed by Tax Levied on Insurance PremiumsByline: Steve Patterson Jacksonville's police and fire retirees are getting about $2 million...Patterson, Steve
medical and dental expense records and receipts, including for medical, dental, Medicare, and long-term care insurance premiums casualty and theft loss records, including for damages and insurance reimbursements state and local tax payment records, including for property, sales, and income taxTax...
excise tax- a tax that is measured by the amount of business done (not on property or income from real estate) excise indirect tax- a tax levied on goods or services rather than on persons or organizations nuisance tax,sales tax- a tax based on the cost of the item purchased and collec...
If you’re self-employed and pay for your health insurance, you can deduct both medical and dental insurance premiums. 10. Furniture Like equipment purchases, fixtures and furniture can be deductible. You can write them off in year one, or, treating them as a depreciated asset, deduct porti...
On Form 8962, Premium Tax Credit (PTC), you will need information on both the actual premium that you are entitled to and the amount of your refund, which will be based on the premiums charged by the insurance company, the APTC amount paid to the insurance company during the tax year,...
Life Insurance:If your CPF contribution is lower than S$5,000, you can claim relief for life insurance premiums paid. This relief is particularly beneficial for those with lower CPF contributions. Parent/Handicapped Parent Relief:Supporting dependent parents, grandparents, or in-laws can qualify you...
Treatment of mortgage insurance premiums as qualified residence interest. Reduction in medical expense deduction floor back to 7.5%. Deduction of qualified tuition and related expenses. Black lung disability trust fund excise tax. Indian employment credit. ...
The bill eliminated the minimum income requirement. Previously, families earning less than $2,500 a year were ineligible, and credits were calculated based on distance from that minimum at a rate of 15 cents per child for every dollar of income above $2,500.20 ...
lowering your tax burden for that year. While your money is in the account, it grows tax-free; you pay no taxes on the interest it earns. However, when you take the money out, you'll have to pay income tax at your current rate on both your deposits and the money they earned wh...