Tax Deductions & Credits

A certain percentage of the expenses of a small business are tax deductible. Learn what percentage of expenses are tax deductible with help from a business consultant and marketing expert in this free…

Job related moving expenses are tax deductible when you file each year. Find out whether moving expenses that are not job related are tax deductible with help from a practiced attorney in this free…

Students claiming themselves on taxes has some pretty strong advantages. Learn about the advantages of a student claiming themselves on taxes with help from a practiced attorney in this free video…

Adobe Reader has drawn criticism for its utter lack of editing features and frequent prompting for updates. Fortunately, Windows users have many free alternatives, including Foxit Reader and…

Standing seam “tin” roofs, attractive for residential roofs, are actually steel that is galvanized with tin. You clip together seams that rise above the surface of the panels and run…

You can deduct a number of different things that you use while learning and training for yoga. Learn about medical deductions for yoga with help from a yoga instructor in this free video clip.

A porch with a roof provides a place to enjoy your yard, protected from the sun and rain. It also protects visitors who arrive at your home and shields your home's facade from the elements. A porch…

If you have a rental property, you don't need a tenant to claim your tax deductions. In fact, a vacant rental property only means that you likely have no income to report. For a rental property that…

The Internal Revenue Service and state taxing authorities require businesses to report their income and losses for each fiscal period. A business's income tax rate and liability are based on its…

Tax brackets are determined by a number of different factors. Learn what determines the tax bracket for seniors with help from the president and CEO of Smart401k in this free video clip.

Using a traditional IRA for a first time home buyer has certain tax implications that go along with it. Learn the tax impact of IRA withdrawal for a first time home buyer with help from the president…

FICA-HI is is one of two deductions taken out of workers' paychecks under the Federal Insurance Contributions Act. These deductions help fund the Medicare and Social Security programs. Both employees…

New built homes all have one thing in common, regardless of where they are built or what materials they utilize in their construction. As the soil compacts underneath the home, the house will slowly…

Known for their flexibility and high performance, elastomeric roof coatings are acrylic-based liquids designed to seal roof surfaces and provide protection from moisture and weather. Elastomeric…

If an act of theft results in total loss or damage to property you own, you may be eligible to deduct the value of your loss on your federal income tax return. The amount you can deduct is subject to…

The pitch of a new building's roof is a numerical measurement of its slant or steepness. The main reason for pitch for a roof is to help the redirection of rain, sleet and snow. Determining the pitch…

There are some general guidelines as to whether or not a health insurance premium is tax deductible. Find out if a health insurance premium is tax deductible with help from a dedicated insurance…

A 529 plan is a contribution plan in which money is set aside to pay for a student's future college education. There are no restrictions on where you live and where you set up the 529 plan, but you…

People frequently rent out vacation homes and investment properties in order to supplement their income from their jobs, particularly during periods when real estate values fall. You must report…

An unproductive asset is one in which the taxpayer has invested but has not seen a return. This unreturned expense generates additional expenses and taxes, even though the asset fails to return as…

If you have an individual retirement account, you usually incur an annual custodial fee, which is the fee paid to those that manage the investments within the IRA. These custodial fees can qualify as…

Raising a child is expensive, especially if you have to pay for childcare services so that you can work. The Internal Revenue service offers tax breaks for many expenses that families face, including…

Donating a car or other vehicle you no longer have use for can get you money back come tax time. Get tax tips for donated vehicles with help from host Alexis Guerreros in this free video clip.

You qualify for a certain amount of income tax deductions when selling your home that you may not be aware of. Get tips for selling your home with help from a licensed Realtor in this free video clip.

Although many people overlook them, you can claim tax breaks for some of your travel costs. For example, if you have to travel to a seminar for your business or drive to a neighboring state to…

The special vehicle sales tax deduction allowed under the American Recovery and Reinvestment Act of 2009 has been allowed to expire, but you can still take a deduction for sales taxes when you…

When you fill out your tax return every year, you need to be aware of every deduction for which you may qualify. If you miss a deduction, you may end up overpaying on your taxes. Look at everything…

If you have recently had a new roof installed, the last thing you may be expecting are leaks in your ceiling. Unfortunately, ceiling leaks are a common problem after many new roof installations. The…

The Schedule A form is used to itemize deductions and can only be used when you elect not to take the standard IRS deduction. The total of all the deductions on the Schedule A is deducted from your…

You are out of luck if you intend on applying now for the New Home or First-Time Buyer credit. The California Franchise Tax Board stopped accepting First-Time Buyer applications on Aug. 15, 2010, and…

Condensation can be a major issue for new roof and attic projects, much to the surprise of homeowners. While a new roof can help prevent leaks from rainwater, other leaks may result from pure…

If you take care of an elderly person, you can be a relative, a family-hired employee, a company employee or a hired contractor. How you handle tax deductions for caring for an elderly person depends…

Workers required to travel as a part of job assignments have special federal tax considerations. Unreimbursed expenses directly related to employment travel, dining and lodging earn federal tax…

If you sell a home for less than the amount you had invested in it, you may incur a capital loss. Unfortunately, if you used the home as your primary residence, the loss isn't typically deductible on…

The IRS uses your modified adjusted gross income (MAGI) as a threshold amount, to determine whether you are eligible for a specific deduction or credit. Unlike your adjusted gross income, which is a…

If you replaced the roof of your residence in 2010 or 2011, you may be able to collect a credit on your federal income tax return. The credit carries restrictions but if the work qualifies, the…

In 2008, the U.S. federal government enacted legislation allowing first-time home buyers to claim a credit for qualifying purchases of a home between April of 2008 and May of 2010. The credit can be…

You can deduct round-trip mileage costs associated with doing charitable work as long as you follow guidelines outlined by the Internal Revenue Service (IRS). Deductible travel expenses associated…

The Internal Revenue Service (IRS) allows taxpayers to deduct their annual cash and non-cash donations to qualified charities. Generally, taxpayers can deduct up to $250 annually without providing…

Health flexible spending accounts allow employees and the employer to contribute to an account on a pre-tax basis that will reimburse the employee for qualified medical expenses. Typically, medical…

If you care for and financially support a disabled adult, you may be entitled to claim the person as a dependent on your federal income tax return. The Internal Revenue Service requires that several…

Bison, also known as buffalo in the United States, were nearly exterminated in the early 1900s due to hunting and the expansion of the frontier westward. As a 1901 article in "Recreation"…

In any state, owning a home is a huge commitment of time, effort and money. Thankfully, the state of Texas offers a handful of tax breaks for diverse types of homeowners, ranging from new owners to…

Owning a second home may offer several benefits -- if you frequently take vacations to a particular destination, a second home can allow you to avoid the tight quarters and hassles of renting a hotel…

Like many tax deduction questions, what expenses you can deduct as a timeshare owners depends on how you use and obtain the property. Generally, you can deduct more expenses if you own the timeshare…

Any individual or business trying to get involved in affordable rental housing should know that affordable home tax credits play a key role in the development. Through the federal government, builders…

A loss incurred from selling a secondary residence is generally not deductible for federal tax purposes. The major exception to this rule is where the personal residence was used as rental property.…

You can deduct medical expenses for yourself, your spouse and your dependents. To do so, you can itemize medical deductions along with other common deductions, such as interest paid on home mortgage,…

There are several reasons why a person may be eligible to deduct some of the mileage he incurs on his vehicle for tax purposes. Some of these reasons are due to business purposes or other work-related…

The Internal Revenue Service requires many income earners to file tax returns to ensure that they pay the correct amount of tax, but it also allows taxpayers to subtract or deduct expenses when…