Common tax deductions for individuals 14 Articles

by Martha Leonard

UNDERSTANDING TAX DEDUCTIONS Is anything more confusing that taxes? The average U.S. Citizen pulls his/her hair out when each new year rolls around and thoughts turn to filing taxes. So many laws, so many changes, so...read more

by Trudi Buck

Each year when tax season rolls around we clamor to get our income tax forms filled out and dropped in the mail as quick as possible. Many of us hire a professional to do this for us. Nothing wrong with this, but did you e...read more

by A.W. Berry

Tax deductions save taxpayers money by allowing them to list certain expenses, losses and cash out-flow as reductions to total taxable income. The lower the taxable income, the less tax a tax filer must pay. Deductions ca...read more

by Kellyann Dinoff

Found Money Commonly Overlooked Tax Deductions Childcare Credit Not a deduction per say, but even better! Tax credits reduce your tax bill dollar for dollar. You can take up to a $6000 credit for your work-related chi...read more

by Holly Berry

There are several deductions that individual taxpayers can take. The IRS even has a guide to help you discover what these deductions are and whether or not you can apply them to your income. They even tell you which filin...read more

by Erica T. Barton

TEN TAX DEDUCTIONS THAT CAN NET YOU THOUSANDS If you want to make thousands of dollars on your tax refund, you need to know which deductions you can legally claim to lower your taxable income. If you can write off of eno...read more

by Charles Corthell

Quite often, individuals simply take the standardized deduction offered by the IRS and call it a day. Though this may seem appealing from a stress perspective, taking a little time to research into the itemized deductions ...read more

by Ann Paige

You're Giving Your Money to the Government: Top Tax Deductions for Individuals The stub of your paycheck clearly tells you how much of your hard earned dollars are diverted to the government. Feel free to shake your he...read more

by Peyton Riley

There are many common federal tax deductions that people miss when filing their taxes that can save them money. 1. Mortgage Interest: Schedule A. You can write off all the interest paid on your mortgage annually on y...read more

by Julie Gonzales

The best and most lucrative tax deductions aren't really for the majority of individuals. They are reserved for the people who are INFORMED about their rights when it comes to just how much Uncle Sam will be allowed to kee...read more

by Alyx Simms

Not only are you sure to pay taxes, but tax laws and how they apply to individuals are ever changing and complex issues. Taxes are a necessary evil, there is just no way to get around paying your fair share, however, deter...read more

by Melissa Radcliff

There are many common tax deductions for individual, many of them we miss every tax season. First of all there are two types of deductions, standard and itemized. In order to benefit from the itemized deduction it must e...read more

by Deborah Hall

Tax deductions are a way to minimize your annual tax liability and ultimately reduce your tax payment. There are many common deductions that each taxpayer might be able to take advantage of regardless of whether they take...read more

by henigan

There are several deductions an ordinary individual can take on their income tax form. Most are listed on Schedule A but some are on page one of form 1040. These are considered adjustments to income. The information on ...read more