Tax news, personal finance, and more!
It’s rare that an individual wins a victory against the IRS.
Rarer still is a landmark victory that could mean thousands in deductions for others.
But that’s exactly the double-feat nurse Lori Singleton-Clarke accomplished, winning a ruling that her nearly $15,000 in business school deductions were legitimate. This judgment makes it easier for other professionals to claim from an MBA tax deduction. Continue reading “MBA Tax Deduction in Sight, Thanks to One Plucky Taxpayer”
While nationalized healthcare continues to be this young decade’s political event, there are still those of us who, whether self-employed or who work for businesses that don’t offer healthcare, pay for our own healthcare. Here’s some tax tips for we brave souls on the frontier of the healthcare debate. Continue reading “Health Insurance Tax Deduction: The Debate Rages On”
If you’re confused about the First Time Homebuyers’ Tax Credit, you’re not alone. Months after it was enacted, this tax credit is still causing taxpayers trouble. It’s not just the long delays—not just the constantly changing rules—not just the extra work on top of the already complex process of buying a new home. No, the big problem with the first time home buyer’s credit is all the new forms you have to deal with.
Here’s a quick list of the more common ones: where you get them, what you do with them, and what to watch out for.
Continue reading “The CP-21B and Other Forms You Need for the First Time Home Buyer’s Tax Credit”
