Finance

The government usually adjusts the exemptions and standard deductions amounts annually to account ...

Started by abarnes

A personal exemption can be claimed for the person filing a tax return, for a spouse, and for each dependent.

Started by awywial

Itemized deductions can include mortgage interest expense, state income tax expense, charitable ...

Started by dollx

Interest expense paid on home loans and car loans is deductible from your income tax.

Started by Coya19@aol.com

A young couple buying a home would usually be better off to take the standard deduction rather than ...

Started by Davideckstein7

All medical expenses may be deducted from income as long as you have the receipts or can show proof ...

Started by Alygatorr01285

All taxpayers have a choice of whether to take the standard deduction or itemize deductions.

Started by asmith134

In order to claim a tax deduction for a charitable contribution, you must be

Started by @Brianna17

Legal methods of reducing your taxes include all of the following except

Started by amal

When taxable income exceeds certain levels, the itemized deductions and exemptions

Started by drink

Taxpayers who are blind get the benefit of

Started by Lisaclaire

George is 65 years old. He supports his father who is 90 years old, blind, and has no income. How ...

Started by TVarnum

Lynn and Robert are married and support Lynn's father who has no income, and Robert's mother, who ...

Started by Bernana

Jerry is divorced and has two children that live with him. In addition he baby-sits three other ...

Started by B

A allowable amount which taxpayers can claim for themselves and dependents is called a(n)

Started by kamilo84

Which of the following can be deducted from your taxable income even if you do not itemize?

Started by clippers!

When you own a house as a primary residence,

Started by go.lag

You should claim itemized deductions if

Started by stock

Which item below cannotbe taken as an itemized deduction?

Started by saliriagwu

Purchasing which of the following items on credit will help reduce your tax bill?

Started by colton

Which of the following conditions will notafford you a tax advantage?

Started by burton19126

An expense that could be included in the itemized deductions of a taxpayer is

Started by jCorn1234

________ are specific expenses instead of a standard amount that reduce adjusted gross income.

Started by lindiwe

Which of the following is nota legitimate itemized deduction?

Started by kaid0807

The filing status that yields the largest standard deduction per taxpayer is

Started by Pea0909berry