Category: Tax Deductions
How Much is Capital Gains on Home Sale? The IRS has specific exclusions and rates for capital gains taxes on a home sale. For example, single taxpayers can exclude …
The IRS mileage rate is typically updated each year, and the new rate for 2022 has just been announced. The current rate is 58.5 cents per mile. If you’re …
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 …
The standard deduction grew significantly under the Tax Cuts and Jobs Act (TCJA). However, despite the standard deduction growing in 2018, the rise was less groundbreaking in 2019. For …
Have you been paying monthly private mortgage insurance (PMI) because your down payment for your home was under 20%? You can get a refund back by claiming the PMI …
The federal government motivates you to buy a house by permitting the deduction of home loan interest. The interest you pay throughout the year is entitled to a reduction …
Is Mileage Still Deductible? Mileage is a frequent deduction for those using their personal vehicles for business. The IRS is providing a bonus this year as the standard mileage …
Are you wondering who can qualify as a dependent on your tax return? This is your guide to assessing whether one of your family members may be able to …
