A List of Deductibles for Federal Income Taxes
Tax deduction is a feature of the federal income tax system that helps taxpayers to reduce their tax burden. Before you take a tax deduction on your federal income tax return, you need to refer to the Internal Revenue Service (IRS) guidelines to make sure the deduction qualifies. A tax deduction is an expense that the IRS allows to be subtracted from the gross income on your federal tax return; it can help you reduce your tax burden and pay less in federal income taxes.
Medical Expenses
As of 2012, medical expenses need to equal at least 7.5 percent of your adjusted gross income in order to be tax deductible. Medical expenses that qualify as deductions include acupuncture treatment, using an ambulance service, fertility treatment, diabetes test kits, birth control medication, prescribed eye glasses, annual physical, X-rays, occupational and physical therapy treatments, sight assisting items such as braille books and guide dogs and hearing aids.
Charities
You may have heard that donating to a charity is tax deductible. The problem is that the bell ringers at Christmastime do not give receipts, so you need comprehensive information on how to write-off charitable donations on your federal income taxes. As of 2012, an individual can write-off up to $250 in charitable donations without the need of a receipt from the charity. Any donation that is $250 or greater needs to be accompanied by a letter or acknowledgement from the organization receiving the donation.
Attorney's Fees
A list of attorney's services that qualify as tax deductions is available on the Lawyers.com website (see Resources). Some of the deductions include divorce proceedings, suing for slander, having your will prepared, business legal expenses involving the buyout of a partner or protection from bad business debt and attorney's fees associated with the recovery of money put into fraudulent investments. As part of the divorce legal deductions, alimony payments can also be used as a tax deduction on your federal income tax.
Vehicles
The IRS rewards consumers for environmentally friendly thinking by allowing a tax deduction for the purchase of a electric vehicle. As of 2012, the maximum credit offered by the IRS is $7,500. However, the exact amount of the credit depends on the model and year of the vehicle you have purchased. The eFile website offers resources that will help you find the tax credit available for electric car models manufactured starting in 2012.
Federal Tax Credits for Energy Efficiency : ENERGY STAR
www.energystar.gov/index.cfm?c=tax_credits.tx_indexEnergy Efficient Products. ENERGY STAR products are independently certified to save energy without sacrificing features or functionality. Saving energy helps prevent ...
Summary of Latest Federal Individual Income Tax Data Tax
taxfoundation.org/article/summary-latest-federal-individual-income...The State and Local Tax Deduction Could Be Turned On Its Head. Itemized deductions in the federal tax code allow filers to deduct taxes paid to state and local ...
Internal Revenue Service
www.irs.govForms and Publications Where's My Refund Check on Your RefundIRS forms and publications, hot topics, tools, news, filing and payments, refunds, credits and deductions, help and resources
Publication 502 (2012), Medical and Dental Expenses
www.irs.gov/publications/p502/ar02.htmlMedical expenses are the costs of diagnosis, cure, mitigation, treatment, or prevention of disease, and the costs for treatments affecting any part or ...
Americans for Tax Reform : Full List of Obamacare Tax Hikes
www.atr.org/full-list-obamacare-tax-hikes-a6996Taxpayers are reminded that the Presidents healthcare law is one of the largest tax increases in American history. Obamacare contains 20 new or higher taxes on ...
Income tax - Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Income_taxAn income tax is a tax on individual earnings that is paid to the national government. In American English the term also applies to the same type of tax paid to city ...
Income Tax eFile State & Federal Tax eFile Online
www.taxefile.com/?ad=File+Your+1040ez&source=google&keyword=1040ezDo you qualify for free tax eFile? Find out if you qualify for free tax efiling by answering a few simple questions.
Canadian Taxpayers Federation The Canadian Taxpayers
www.taxpayer.comOfficial site of the CANADIAN TAXPAYERS FEDERATION a citizens advocacy group dedicated to lower taxes, less waste and accountable government.
List of countries by tax rates - Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/List_of_countries_by_tax_ratesComparison of tax rates around the world is difficult and somewhat subjective. Tax laws in most countries are extremely complex, and tax burden falls differently on ...
Online Tax Advice - Tax Preparation Help - Income Tax Tips
www.marketwatch.com/taxesIncome Tax Tips - MarketWatch offers online tax advice and tips. Look no further then our site for income tax preparation tips.
Tax Preparation & Tax Services Jackson Hewitt
www.jacksonhewitt.comFind Office Check Status Contact Us eDocumentsA full-service, year-round income tax preparation company specializing in fully computerized federal and state tax preparation of individual returns.
Eligibility - Food and Nutrition Service
www.fns.usda.gov Home SNAP Applicants and RecipientsEligibility. To see if you might be eligible for Supplemental Nutrition Assistance Program (SNAP) benefits, visit our pre-screening tool
Hybrid Car Tax Credits: Incentives Fade into Memory -
www.hybridcars.com/federal-incentivesThey were nice while they lasted, but the tax credits available to hybrid gas-electric cars bit the dust on Dec. 31, 2010. The incentives that President George Bush ...
Pay.gov - Home
www.pay.govBy Agency Name By Form Name Agency List All Other FormsAttention VA Medical Care Copayment customers. If you do not know your username, or do not have one, you can still make a payment on our website.
Tax Credits, Rebates & Savings Department of Energy
energy.gov Public ServicesAlabama Gas Corporation - Residential Natural Gas Rebate Program ... ...
Taxes: Income tax preparation, filing and deduction advice - MSN
money.msn.com/taxesTaxes are everywhere. Learn crafty tax preparation and filing tips from the MSN Money tax experts. Our deductions might help reduce your tax liability.
2013 Taxes - Free Online Tax Filing Options - TurboTax 2013
2013taxes.orgFor many businesses, especially small businesses, taxes can be quite a handful. Moreover, its not just paying taxes, its knowing what can be taxed and/or deducted.
TurboTax Tax Preparation Software, FREE Tax Filing, Efile Taxes ...
https://turbotax.intuit.comSign In Check Efile Status File Taxes Online Start a 2012 Tax ReturnTurboTax is the 1-rated, best-selling tax software. Free Edition includes free IRS efile. Easily prepare your tax return and file income taxes online. Choose Easy.
Iowa Department of Revenue - Iowa Taxes - Iowa.gov The ...
www.iowa.gov/taxeFile & Pay Forms Income Tax Forms Where's My Refund ContactsProvides information, publications, forms, and updates for residents and businesses about tax filing and preparation.
DSIRE: Database of Energy Efficiency, Renewable Energy Solar ...
www.dsireusa.orgThe Database of State Incentives for Renewable Energy (DSIRE) is a comprehensive source of information on state, local, utility, and selected federal incentives that ...
FreeFile - Prepare and File Your Taxes Online For Free
www.freefile.irs.govTaxes can be, well, taxing. Free File does the hard work for you. There's no need for you to be a tax expert. Software provides step-by-step guidance.
Wonkbook: The best sentence about tax reform, ever.
www.washingtonpost.com/blogs/wonkblog/wp/2013/07/31/wonkbook-get...Get rid of the deductions that dont affect me. Thats what Debbie Schaeffer, the owner of Mrs. G TV and Appliances, told Max Baucus and Dave Camp, the ...
Utah Income Taxes - Home
incometax.utah.govNew This Year. TC-40 is now three pages. More information is needed to process your Utah return, so it now has a third page, which is only filed if you use it.
The Federal Pie Chart - War Resisters League
www.warresisters.org/pages/piechart.htmCurrent Military $965 billion: Military Personnel $129 billion Operation & Maint. $241 billion Procurement $143 billion Research & Dev. $79 billion
There is a chance you're eligible for a new government sponsored solar energy program.
BalasHapusFind out if you are eligble now!