Start For Free

Fast, Secure, and Always Accurate!
Help Categories

Articles
Standard Deduction and Exemption Amounts

2014 Standard Deduction and Exemptions Single - $6,200 Married Filing Joint - $12,400 Married Filing Separately - $6,200 Head of Household - $9,100 Qualifying Widow(er) - $12,400 Personal Exemption(s) - $3,950 IF THE TAXPAYER OR SPOUSE...

2012 Standard Mileage Rates

The following summarizes the optional standard mileage rates for employees, self-employed individuals, or other taxpayers to use in computing the deductible costs of operating an automobile for business, charitable, medical, or moving...

2013 Standard Mileage Rates

Beginning Jan. 1, 2013, the standard mileage rate for the use of a car (also vans, pickups or panel trucks) increased to: 56.5 cents per mile for business miles driven. 24 cents per mile driven for medical or moving purposes. 14 cents per...

Indiana Renter's Deduction

You may be able to take the Indiana renter's deduction if: You paid rent on your principal place of residence, and The place you rented was subject to Indiana property tax. Your "principal place of residence" is the place where you have...

Indiana Insulation Deduction

You may be able to take this deduction if you installed new insulation in your Indiana home during 2014. Insulation includes weather stripping, double pane windows, storm doors and storm windows. To take this deduction the following...

Tuition and Fees Deduction

You may be able to deduct qualified education expenses paid during the year for yourself, your spouse, or your dependent(s). You cannot claim this deduction if your filing status is married filing separately or if another person can claim...

Deduction for Educator Expenses

If you do itemize your deductions, you cannot claim the same educator expenses as both a Deduction for Educator Expenses and as a deduction for Unreimbursed Employee Expenses. You can only list these expenses as a deduction in one place...

Indiana Military Service Deduction

If your income includes active or reserve military pay, you will be able to take a deduction (regardless of your age). If you are retired from the military or are the surviving spouse of a person who was in the military, you may be able...

General Guidelines for the IRA Deduction

If you made contributions to a traditional IRA during the tax year, you may be able to take an IRA deduction. But you, or your spouse if filing a joint return, must have had earned income to do so. Earned Income: For IRA purposes, earned...

Section 179 Deduction Limitations

Taking the Section 179 election allows the taxpayer to elect to deduct the total cost of the property purchased in lieu of depreciating the property over the life value. Your section 179 deduction is generally the cost of the qualifying...