Federal Tax Deductions

These 5 Commonly-Missed Tax Deductions Could Be Costing You Money

Taxes
overlooked tax deductions

Almost everyone complains about paying taxes, wouldn’t you agree?. In fact, many people go to great (sometimes) illegal lengths to avoid paying them. However, the IRS estimates that millions of taxpayers fail to claim these overlooked tax deductions, thereby overpaying their taxes each year! Here is a list of a few of the more common tax […]

What You Need to Know About Tax Deductions and Tax Credits (And Why It Matters)!

Personal Finance
Thumbnail image for What You Need to Know About Tax Deductions and Tax Credits (And Why It Matters)!

In the course of preparing tax returns over the last few years, I have heard people confuse the concepts of tax credits and tax deductions. What’s worse is that I’ve even seen various financial writers and bloggers misuse the terms when performing various types of analysis involving taxes. Let’s take a look at the difference. […]