Tax Deductions

Latest Tax Deduction Articles

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  Deduct mortgage interest on a 2nd home?

  The interest on the home you bought for your in-laws may be deductible in these cases.

  2 min read Jun 17, 2014
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  Can I claim my son as a dependent

  Your son may have had to file taxes due to his part-time job. Can you still claim him?

  2 min read Jun 10, 2014
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  Refinancing for rental property deduction

  Refinancing a rental to create a tax deduction may work, but losses may be limited.

  2 min read May 29, 2014
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  Child-related tax breaks growth chart

  Children offer parents numerous tax advantages from birth through the college years.

  Apr 04, 2014
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  Claim car repair costs due to a pothole?

  A casualty loss results from unexpected events such as floods and maybe potholes, too.

  2 min read Mar 25, 2014
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  Deducting your home office costs

  If you work from home, you might be able to write off your home office space.

  4 min read Mar 24, 2014
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  8 outlandish tax deductions to skip in 2014

  Certified public accountants recall the most inventive write-offs they’ve seen clients make.

  6 min read Mar 12, 2014
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  Deduct mortgage interest on three houses?

  You can deduct mortgage interest on two homes. But if you rent the third, you have an option.

  2 min read Mar 06, 2014
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  Slash your tax bill in 2014 and beyond

  An expert says taxpayers leave too much money on the table. He offers tips to save more.

  3 min read Feb 18, 2014
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  Deductible expenses of two homes

  You’re in a tough spot, but you can probably deduct property taxes and mortgage interest.

  2 min read Feb 04, 2014
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  Tax benefits for education of grandkids

  While you can’t deduct your grandkids’ college costs, you can get a different tax break.

  2 min read Jan 30, 2014
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  Report settlement proceeds on taxes

  Settlement proceeds may or may not be deductible, depending on the facts and circumstances.

  2 min read Dec 17, 2013
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  Tax deductions for work expenses

  The protective gear is tax deductible, but do the math to be sure it makes sense to itemize.

  2 min read Dec 12, 2013
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  Determining basis as a joint tenant

  You would have gotten a bigger tax break if your aunt had left her property to you in a trust.

  3 min read Dec 10, 2013
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  Taking a tax deduction on an RV as a home

  The rules for deducting mortgage interest on income taxes are broader than you might think.

  2 min read Nov 26, 2013
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  Determining taxation of disability benefits

  One box of Form 1099-R tells if you owe an additional penalty, another if you owe tax.

  1 min read Nov 07, 2013
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  Claiming unallowed losses on property sale

  You can claim unallowed losses when you sell your property. Here’s what you need to know.

  2 min read Nov 05, 2013
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  Can I get rental income loss deduction?

  It’s nice of you to reduce your tenant’s rent. You can’t deduct a loss, but you have options.

  2 min read Oct 08, 2013
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  Depreciation rules of a business property

  You can’t write off the down payment, but you can do something else to lower your tax bill.

  2 min read Oct 03, 2013
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  Claim lost down payment as a capital loss?

  You can’t deduct the down payment as a capital loss, but you can deduct it as an ordinary loss.

  2 min read Oct 01, 2013