Tax Law

Equipment used to operate a farm is tax deductible in most cases. Certain requirements must be satisfied in order for the owner of a farm to take these deductions. This includes a potential...

U.S. taxpayers may be able to deduct certain license fees from their income in calculating their federal income tax liability. Whether license fees are deductible depends on the nature of the...

The deduction of legal fees is not a simple subject that can be answered in a sentence. There are certain types of legal fees that can be deducted and others that can not. You must be aware of the...

The IRS has complex rules for determining how much money you can contribute each year to your IRA on a tax-deductible basis. This article explains how to figure your maximum deductible IRA...

Legal expenses may be tax deductible. Whether or not a legal fee is tax deductible depends on why the legal fees were incurred. Most fees related to personal legal advice are not deductible, while...

Legal fees may constitute tax deductions when they are incurred for business purposes. While most personal legal expenses are not deductible, some can be claimed as miscellaneous Schedule A...

Whether you are a part-time or a full-time artist, you will need to report any earnings from your art. By keeping good records and operating in a businesslike manner, you can deduct your expenses...

When making improvements to your home, it is always prudent to investigate any special tax breaks for which you may be eligible. While installing a home security system can save you money on...

The biggest advantage of contributing to an Individual Retirement Account (IRA) is the tax benefits of doing so. To qualify for those tax benefits you must contribute only the legal amount to your...

Firefighters have a difficult job with inherent privileges and disadvantages. When it comes time to file taxes, it can be confusing for a firefighter to know what he can and cannot write off. A...

If you move to take a new job, your moving expenses may be tax deductible. This also applies to self-employed individuals. This deduction applies whether the move occurs within the United States...

Most people realize that many donations to organizations that serve public purposes are tax-deductible under U.S. tax law. However, what most people do not know are the details of whom they can...

There are many financial and tax vehicles created in the United States in which you can invest your pension. Some of them are tax deductible, such as traditional IRA, and some not, such as Roth...

Business owners and operators incur a number of expenses related to the running of their businesses. Many of these expenses are tax-deductible. Taking advantage of the full range of available...

Investment expenses are defined as any expense required for the production and collection of investment income or the management, conservation or maintenance of investment property. While...

There are many purchases that the IRS considers tax deductible. A plane purchased for business may be tax deductible depending on how it is used. Tax deductible status is also determined by who...