Here’s how to handle mortgage interest deduction in tax software TurboTax, H&R Block, and FreeTaxUSA when your mortgage is above the $750,000 limit.
If you’re self-employed and you buy health insurance from the ACA exchange, here’s how to use TurboTax to calculate the subsidy and tax deduction.
If you’re self-employed and you buy health insurance from the ACA exchange, here’s how to use H&R Block software to calculate the subsidy and tax deduction.
An unusually high marginal tax rate isn’t a problem. You’re rewarded with paying lower taxes. You live on after-tax dollars, not rates.
If you’re self-employed on ACA health insurance, TurboTax and H&R Block software may give wrong numbers for the subsidy. Use this calculator instead.
You need some patience to find the right place in TurboTax for the $300/$600 charity donation deduction for 2021 when you take the standard deduction.
Congress passed a new stimulus bill before the Christmas weekend. Although President Trump wanted to raise the second stimulus check from $600 per person to $2,000 per person, he still signed the bill into law. Unlike the previous stimulus law — the CARES Act — this new law doesn’t have a catchy name. The law […]
CARES Act created a new above-the-line tax deduction for those who take the standard deduction. Is it ongoing or is it only for 2020?
The IRS Form 1040 instructions clarified the new CARES Act charitable contributions deduction for married filing jointly.
When you are a resident of California or New Jersey, having an HSA and especially investing in the HSA require extra tax reporting. Here’s how to do it.
Do you taxes by the book. It’s the law and it’s the right thing to do. Say no to aggressive tax tactics even though you may get away.
Prepaying property tax is deductible in 2017 only if the tax is already assessed.