Tax Credits & Deductions

Unusual Tax Deductions You Might Be Missing Out On

February 26, 2013

Claiming certain deductions can lower your tax bill and put more money back in your pocket when it’s time to file. While most taxpayers are aware of the… Read More

Changes With the American Taxpayer Relief Act of 2012

January 22, 2013

After all of the hype about the Fiscal Cliff, the House passed the American Taxpayer Relief Act of 2012 (ATRA) and President Obama signed it into law. At… Read More

Fiscal Cliff Deal Preserves Key Tax Breaks for Families

January 15, 2013

The government’s plan to avert the fiscal cliff generated a sigh of relief from millions of Americans who were concerned about an immediate increase in taxes. As part… Read More

Holiday Giving Could Mean Big Tax Deductions at Tax Time

December 6, 2012

‘Tis the season to be jolly and it’s also the time of year when people are reminded to give back to those in need. Making a donation of… Read More

Tax Deductions for Capital Losses: How This Deduction Works

November 30, 2012

If you've incurred a significant loss from the sale of assets you owned or used for investment or personal purposes, you can claim those losses on your 1040… Read More

2013 IRS Tax Deduction Rate for Standard Mileage

November 21, 2012

Each year the IRS takes a look at the deduction allowed for mileage based upon gas prices, driving expenses, maintenance, registration costs and other costs that are associated… Read More

Potential Tax Changes Obama Plans to Implement in Second Term

November 1, 2012

President Obama plans to make a few major changes to the tax code in his second term as President of the United States. The basis of Obama's plan… Read More

Mitt Romney Proposed Tax Changes if Elected President

October 30, 2012

Mitt Romney proposes to make the Federal tax code fairer, flatter, and simpler if he is elected President of the United States. His tax proposal has come under much… Read More

Back-to-School Tax Tips for Parents

September 4, 2012

With summer fading fast, parents and kids across the country are getting ready to head back to school. Whether your children are starting their freshman year of college or getting… Read More

Heading Back to School? Tax Breaks for Adult Students

August 29, 2012

With unemployment still high, more older Americans are heading back to school in hopes of improving their job prospects. Of the estimated 20 million college students nationwide, 25% are… Read More