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IRS Mileage Rate for 2016 Changes in 2017

IRS mileage rate

Most Americans are reliant on their car as their primary mode of transportation. Business owners often have a large fleet of vehicles that literally drive their success.

Tax-deductible travel is a vital part of your annual tax return, and it’s important to keep track of exactly what you can claim for, and how much you … Read the rest

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How to Claim a Medical Expense Tax Deduction

Medical expenses can damage your budget tremendously, especially when the emergency is unexpected and your insurance does not cover it. The good news is the IRS does allow you to have some relief from medical expenses with a medical deduction for 2016.

However, to take advantage of their leniency you have to know what is … Read the rest

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The Home Loan Mortgage Interest Tax Deduction

The federal government motivates you to buy a house by permitting the deduction of home loan interest. Although extra standards are present, just the interest you actually pay out throughout the year is entitled to a reduction in taxes.

Should you make a past due home loan payment in the next income tax year, you … Read the rest