Standard Deduction vs. Itemizing: Seven Facts to Help You Choose
Each year, millions of taxpayers choose whether to take the standard deduction or to itemize their deductions. The following seven facts from the IRS can help you choose the method that gives you the lowest tax. 1. Qualifying expenses – Whether to itemize deductions on your tax return depends on how much you spent on…
Read MoreWork at Home? You May Qualify for the Home Office Deduction
If you use part of your home for business, you may be able to deduct expenses for the business use of your home. The IRS has the following six requirements to help you determine if you qualify for the home office deduction. 1. Generally, in order to claim a business deduction for your home, you…
Read MoreHow to Get Tax Help from the IRS
When tax season is in full swing, the Internal Revenue Service receives millions of calls and thousands of taxpayer visits daily. For faster service, avoid peak times like Monday and Friday mornings when wait times are usually longest. Better yet, get the help you need online 24/7 without delay at IRS.gov. The IRS website has…
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