Pass that test and part of your utility bills, insurance costs, general repairs and other home expenses can be deducted against your business income. You can also write off part of your rent or, if you own your home, depreciation . Your lender will send you a Form 1098 in January listing the mortgage interest you paid during the previous ...
A little research can yield some big savings, both when making a purchase and on your energy bill for years to come. Here at Energy Saver, we often get questions about what kind of financial assistance is available to make energy efficient purchases more affordable. There are many different types of energy incentives and understanding each ...
This post tells you what you need to do to be eligible for this credit, and some other things to think about before committing to it. “You can include only the expenses you paid in 2013. If you paid by check, the day you mailed or delivered the check is usually considered the date of payment”. Since the check is freely given in ...
As the article states, you only pay self-employment tax on the net income from self-employment. Most of the deductions the article mentions are expenses that will reduce your net income from self-employment. However, some of the deductions the author mentions are general deductions — they will reduce your regular income tax, but will not ...
US Expat Tax Guides Download one of our comprehensive tax guides today that fits your individual tax situation and provides you with the facts you need. The answer to this question comes down to whether your stimulus check increases your “provisional income.” Don’t be surprised by an unexpected tax bill on your unemployment ...
Deductible Moving Expenses – You can deduct expenses that are reasonable for the circumstances of your move. Your eligible moving expenses include household goods, personal effects, storage and traveling expenses to your new home. But the 2017 Tax Cuts and Jobs Act eliminated the moving expense deduction for most taxpayers.1 There are ...