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You can claim a deduction for medical and dental expenses that are greater than 7.5% of your adjusted gross income if you itemize deductions. Qualifying expenses include payments to doctors and ...
You can’t claim the deduction if you’re married and filing separately, or if you or your spouse are listed as dependents on someone else’s tax return. 27. Standard Tax Deduction
The maximum deduction you can claim for all state and local taxes, including real estate and personal property tax, income tax and sales tax, is $10,000 — $5,000 if you’re married and filing ...
When you contribute to a pre-tax retirement plan (such as an IRA), you can deduct those contributions from your tax return. And if you’re self-employed, you can open a Solo 401(k) plan and ...
When you file your taxes, you can claim the standard deduction or choose to itemize. However, recent changes in tax law have dramatically reduced the percentage of Americans who itemize. For You:...
Even if you don’t itemize your taxes, there are several tax credits and “above-the-line” adjustments to your income that you may be able to claim in addition to the standard deduction: