Your husband will need to claim the medical on his tax return as he is the main member of your medical aid. He will get the tax benefit for both of you which would be the same as if you made the claim. Unfortunately, SARS won’t split the benefit and pay out your share to you ...
Big Tax Deductions: If you seem to be claiming more charitable deductions than others at your income level, the IRS might red flag your tax return. Make sure you have all the documentation to back up your donations. Cash: Casinos, banks and others must report cash transactions over $10,000...
Big Tax Deductions: If you seem to be claiming more charitable deductions than others at your income level, the IRS might red flag your tax return. Make sure you have all the documentation to back up your donations. Cash: Casinos, banks and others must report cash transactions over $10,000...
In 2024, regardless of age, if you had self-employment income, you need to file a tax return for 2023 if your net self-employment income is $400 or more, even if your gross income is below the amounts listed above for your filing status. Do I Need to File a Tax Return? Here’s...
You earned more than £50,000 in the tax year 2023/24 (£60,000 from 2024/2025) and either you or your partner claimed child benefit Your adjusted net income in the tax year 2023/24 was above £150,000 You can also check if you need to send a tax return byusing the free on...
The more you can deduct, the less you’ll pay in taxes. The standard deduction has gone up significantly in recent years, so you might find that it's the better option for you now even if you've itemized in the past. Your tax software or tax preparer can run your return both ways ...
You’re equally responsible for the tax return, so you’re responsible for your spouse’s mistakes, including if you end up owing more money. You can apply for innocent spouse relief if you can prove that you didn’t know about an issue, but that can be a time-consuming process. If ...
However when they filers see their actual refund is lower than expected, common questions that come up include, “Why is my refund so small?“, “Why did it change on my transcript?”and “How can I find out more details?” Naturally they get stressed and depressed around their refund be...
Should Congress pass its tax package with a provision that may benefit you, IRS Commissioner Danny Werfel told reporters that the agency will incorporate those changes on your return so you won’t have to take further action. “Don’t wait on Congress. If there’s a ...
(PTC), which lowers the monthly premiums for health plans offered through the federal and state health benefit exchanges. Taxpayers can use all, some, or none of their PTC in advance (i.e., upfront). If taxpayers use less PTC than they qualify for, they will get the difference as a ...