Medical Tax Deductions

CHANGES TO Itemized Deductions for 2013 Medical Expenses If you itemize your deductions on Form 1040, Schedule A, new rules may affect your medical expense deduction. The new rules raise the threshold that unreimbursed medical and dental expenses you paid for...

Personal Tax Deductions

Many people think that personal tax deductions are Schedule A itemized deductions, but in reality these IRS tax deductions come in a variety of places and ways. But no matter how you look at it, personal tax deductions reduce your taxable income, thus reducing the tax...

Tax Deductions

Tax Deductions are available to help every tax filer. Depending on the deduction they are taken at different points in the tax return. Many tax filers use tax deductions that are called adjustments and reduce taxable income on page 1 of a standard 1040 tax form. In...

Business Tax Deductions

Many people think that business tax deductions are Schedule C business expenses, but in reality business tax deductions come in a variety of places and ways. No matter how you look at it, business tax deductions reduce your taxable income; thus reducing the tax you...

Medical Tax Deductions

Itemized Deduction for 2015 Medical Expenses If you itemize your deductions on Form 1040, Schedule A, the threshold for un-reimbursed medical and dental expenses you paid for yourself, your spouse, and your dependents must exceed 10 percent of your adjusted gross...

Charitable Contributions Tax Deductions

If you are contemplating making a substantial charitable gift, doing so before the end of the year will lock in the charitable contributions tax deduction, increasing your write-off for that year. If you make a pledge to make future contributions, the ruling is you...