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Who can deduct Moving Expenses?

If you moved due to a change in your job or business because you started a new job, you may be able to deduct your moving expenses. To qualify for the moving expense deduction, you must satisfy three tests. Under the first test, your move...

Are My Child's Summer Camp Expenses Tax Deductible?

depending on your income. 5. You may use up to $3,000 of the unreimbursed expenses paid in a year for one qualifying individual or $6,000 for two or more qualifying individuals to figure the credit. For more information check out IRS Publication...

Why is there a separate section for travel expenses for Reservists and Performing Artists?

Generally, employee expenses are deductible only on line 21 of Schedule A (Form 1040). When you deduct your expenses on line 21 of Schedule A, the net deduction is limited by the 2% rule. In addition, the expenses can only be deducted...

I'm in the military. Do I qualify to deduct moving expenses?

If you are a member of the Armed Forces on active duty and you move because of a permanent change of station, you do not have to meet the distance and time tests. You can deduct your unreimbursed moving expenses. A permanent change...

Who qualifies to deduct expenses in the section for Reservists and Performing Artists?

If you are one of the individuals discussed below, special rules apply to deducting your employee business expenses. Any expenses you incurred while employed in one of the following should generally be deducted in the section...

Ten Tips on Tax Credits for Child and Dependent Care Expenses

claiming the credit for child and dependent care expenses. 1. The care must have been provided for one or more qualifying persons. A qualifying person is your dependent child age 13 or younger when the care was provided. Additionally, your...

What expenses cannot be deducted as "moving expenses"?

The IRS allows you to deduct several types of Moving Expenses, however, the list below reflect items the IRS DOES NOT allow as a valid Moving Expense deduction: Any part of the purchase price of your new home. Car tags. Driver's license...

What expenses can I deduct as "moving expenses"?

You can deduct the reasonable expenses of moving your household goods and personal effects and of traveling from your old home to your new home. Reasonable expenses can include the cost of lodging (but not meals) while traveling to your...

Can I Deduct 50% or 80% of my Meals and Entertainment Expenses on my Schedule C?

employee is present at the meal. Within the TaxSlayer program, you will report 100% of the meal and entertainment expenses incurred by entering the full amount of your expenses in the box noted for 50% or 80% reimbursement and our......

Schedule C - Expenses

Qualified Expenses relating to your business income can be deducted in the expenses section of your Schedule C, Profit or Loss from a Business. To enter your expenses for your business, go to the Federal Section > Income > Profit or Loss...