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Make smart, safe tax deductions and avoid a tax audit from the IRS with the right information. Get tips on tax deductions and personal finances from an experienced tax accountant in this free video series on taxes.
There are 20 videos in this series:
The key to writing off vehicle mileage on taxes is keeping good documentation to be able to justify which percent of a car's miles are used for business. Write off gas mileage driven for business purposes on tax returns safely and legally with tips from an experienced tax professional in this free video on tax deductions.
Claiming home office deductions on a tax return does not involve a room used for multiple things in the home, but a room solely for office use. Write off an office at home used for business purposes only on tax returns safely and legally with tips from an experienced tax professional in this free video on tax deductions.
Itemizing tax deductions requires that deductions, such as medical expenses and property taxes, add up to more than the standard deduction amount. Determine whether tax deductions can be itemized in this free video on personal finance from an experienced accountant.
The only way to deduct moving expenses from income tax payments is to move for business purposes. Deduct moving expenses related to business on tax returns safely and legally with tips from an experienced tax professional in this free video on tax deductions.
It is legal and audit-safe to claim any medical expenses on taxes that exceed 7.5% of adjusted gross income. Deduct medical expenses on tax returns that exceeds this amount, safely and legally with tips from an experienced tax professional in this free video on tax deductions.
Owning a home and paying homeowners tax is a good way to claim deductions on state and local tax returns. Deduct specific expenses such as this and others on state and local tax returns with tips from an experienced tax professional in this free video on tax deductions.
Generally, tax deductions of charitable contributions can not exceed 20% of the person's annual gross income. Deduct charitable contributions on tax returns that do not exceed this amount safely and legally with tips from an experienced tax professional in this free video on tax deductions.
Giving money to certain charities that are registered can provide the giver with documentation to file along with their tax return. Deduct charitable contributions on tax returns that do not exceed 20% of a person's gross annual income safely and legally with tips from an experienced tax professional in this free video on tax deductions.
Charities qualified as a 501C3 charity should be able to provide documentation of their charitable status for the donor to be able to claim it in their taxes. Deduct charitable contributions on tax returns by using these forms from registered charities safely and legally with tips from an experienced tax professional in this free video on tax deductions.
Mileage driven for small business purposes, such as client meetings and business errands, are deductible on income taxes because they are legitimate business expenses. Deduct driven mileage for business purposes on tax returns safely and legally with tips from an experienced tax professional in this free video on tax deductions.
Section 125 of the IRS revenue code refers to cafeteria plan benefits which allow a person to choose the kinds of benefits they would like. Claim personal and specific benefits safely and legally with tips from an experienced tax professional in this free video on tax deductions.
In order to claim gambling losses as deductions on a tax return, records must be kept of all winnings and losses during the whole year. Understand all the important details of what can and can not be claimed as deductions in relation to gambling losses on a tax return with tips from an experienced tax professional in this free video on tax deductions.
Legal fees incurred to keep a job or to settle title disputes are deductible on a tax return. Understand all the important details of what can and can not be claimed as deductions in relation to legal fees on a tax return with tips from an experienced tax professional in this free video on tax deductions.
Clothes are only tax deductible if they typically can not be worn anywhere else, such as a uniform. Understand all the important details of what can and can not be claimed as deductions in relation to clothing purchases on a tax return with tips from an experienced tax professional in this free video on tax deductions.
A few typical tax deductions that most people are able to take involve doctor's and dentist bills, as well as homeowner and property taxes. Understand all the important details of what can and can not be claimed as deductions on a tax return with tips from an experienced tax professional in this free video on tax deductions.
Typically, the value of the clothing in a closet is not anywhere near what was actually paid for it, so it is important to get a donor's estimate of value, and put that on the receipt for taxes. Understand all the important details of what can and can not be claimed as deductions on a tax return with respect to clothing values with tips from an experienced tax professional in this free video on tax deductions.
Deducting car lease payments and expenses from a tax return can be done if the owner keeps records of all the expenses occurred by owning the vehicle, including mileage and gas expenses. Understand all the important details of what can and can not be claimed as deductions on a tax return in relation to vehicle expenses with tips from an experienced tax professional in this free video on tax deductions.
Qualified charities should be able to provide documentation for the donor showing that they are registered, so that the donor is able to claim their donation on their taxes. Deduct charitable contributions on tax returns by using these forms from registered charities safely and legally with tips from an experienced tax professional in this free video on tax deductions.
Organization and good record keeping is the main secret to saving money on taxes. Understand what type of organization is important for saving money on tax returns with tips from an experienced tax professional in this free video on tax deductions.
Gathering all W2 and 1099 tax forms into one place at the end of the year is important to make filing taxes as simple as possible. File a quick and easy tax return with very little effort with tips from an experienced tax consultant in this free video on tax details and deductions.
IRS! Most people see those three letters and immediately go into panic mode. Everything about income taxes seems to be a hassle. People that don't know what they are doing may find themselves in a world of trouble. How do they learn what tax deductions they are eligible for? What do they do if they get a letter from the IRS? Are they going to have to file a tax extension? Do they have to pay tax penalties? There are so many unanswered questions that loom in the gray world of the Internal Revenue Service. If people are worried about tax deductions, Kristen Brand describes the process in detail and gives them tips for avoiding audits and making smart and safe deductions when filing taxes. So, don't let April 15th catch you off guard. In this series of tax filing videos, an accounting specialist will tell you several ways to avoid a tax audit. Learn what the IRS looks for when deciding who to audit. Find out tips for reporting rental income and various other deductions. Should one expect an audit if a company they hold shares in gets audited? Watch this free video series and find out how to claim gambling winnings and how to deduct donations as a write off on a tax return.
Kristen Brand Kristen Brand has over eight years of accounting experience. She is a CPA in Florida and is a practitioner in Florida's Certified Audit Program for sales and use tax. This designation has allowed Brand to perform sales and use tax audits on behalf of the Florida Department of Revenue.dkdk
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