Tax Credits & Deductions Child Tax Credit TaxSlayer Editorial Team January 22, 2021 1,866 Closed If you claim at least one qualifying child as a dependent on your tax return, you may be eligible for the child tax credit. … Read more 1,866 0 CommentsClosed
Tax Credits & Deductions, Tax Deductions, Tax Filing Basics What is a Tax Write-Off? TaxSlayer Editorial Team January 14, 2021 2,106 Closed A tax “write-off” is basically just slang for a tax deduction. It is an expense you can claim on… Read more 2,106 0 CommentsClosed
Tax Credits & Deductions, Tax Law Changes Understanding the Mortgage Interest Deduction TaxSlayer Editorial Team January 8, 2021 61,541 Closed The Mortgage Interest Deduction allows homeowners to reduce their taxable income by the amount of interest paid on a qualified… Read more 61,541 0 CommentsClosed
Tax Credits & Deductions, Tax Tips What is Itemizing and Who Should Do It? TaxSlayer Editorial Team January 5, 2021 9,841 Closed When you’re filling out your tax return, you may choose to either take the standard deduction or itemize. … Read more 9,841 0 CommentsClosed
Tax Credits & Deductions Reduce Your Taxable Income to Increase Your Refund TaxSlayer Editorial Team January 5, 2021 21,084 Closed The Tax Cuts and Jobs Act has impacted several important itemized deductions going into tax year 2018. If you’ve itemized… Read more 21,084 1 CommentsClosed
Tax Credits & Deductions Deducting Charitable Donations of Clothing and Household Items TaxSlayer Editorial Team January 3, 2021 37,059 0 Comments The tax laws say that you can deduct charitable contributions worth up to 60% of your AGI. But special rules do apply, depending… Read more 37,059 1 0Comments
Tax Credits & Deductions, Tax Tips What Counts as a Charitable Donation Deduction for a 5k Run? TaxSlayer Editorial Team January 2, 2021 21,133 Closed Running for a cause is a great way to show support while testing your physical endurance. Serious competitors invest more… Read more 21,133 1 CommentsClosed
Tax Credits & Deductions What Are Tax Credits and Tax Deductions? TaxSlayer Editorial Team January 1, 2021 18,082 Closed Tax credits and tax deductions are two different types of tax breaks. Both can lower your tax bill, but they… Read more 18,082 2 CommentsClosed
Tax Credits & Deductions, Tax Tips Rental Property Income: What to Report and What to Deduct on Your Taxes TaxSlayer January 1, 2021 13,929 0 Comments Rent income is part of your gross income and must be reported on your tax return. Types of Rental Income to Report Normal rent… Read more 13,929 1 0Comments
Tax Credits & Deductions 8 Surprising Tax Credits and Deductions You Should Know About TaxSlayer Editorial Team December 18, 2020 22,647 0 Comments A tax deduction reduces the amount of income you earn that is subject to federal income tax, and a tax credit reduces… Read more 22,647 1 0Comments