IRS Tax Deductions . Net

Learn How To Get The Maximum IRS Tax Deductions

Category: Popular Questions on IRS Tax Deductions

I am starting a small business – do I need to get a business license to claim tax deductions?

I am starting a small business and wondering if I need to get the license before end of year to claim business tax deductions

If your standard tax deduction for the year is $4,750, how much do you save by itemizing deductions?

I am unsure how to calculate this question.
Jack is single and his stndrd deduction is 50. IF he is in the 25% marg\nal tax bracket, how much tax would he save by using his itemized deduction of ,600?

Should I bother with tax deductions? What are they?

First, I need to explain that I’ve already heard the definition of a tax deduction- "A reduction of total income before the amount of income tax payable is calculated." (So please don’t reply with just a simple definition) What I need to know is how that affects my return. I’ve asked a lot of people [...]

Charity and tax deductions – does it defeat the purpose of charity?

When you make a charitable donation you are able to claim it on your taxes and you receive a deduction.
This would obviously be a benefit and urge some people to donate more, but to me I feel it defeats the purpose of "charity." I always thought of charity as a give something for nothing [...]

if i earn 1760 a month and my tax deductions are 272 a month. how much would i pay for the annual tax on april?

i wanted to save for tax season next year but i dont know how much to save. my deductions are really small and im afraid that i will be paying for a lot so im trying to save now. can someone please help? thank you.

I'm self employed, and I'm looking for some other tax deductions for the 2007 calendar year.?

I’ve already contributed to my simple plan, my HSA, Roth IRA. I’m looking for some tax deductions, anybody got any tips?

Why do governments offer tax deductions? What is the incentive?

Believe it or not, I don’t understand tax deductions. Why?
You can write off tons of things. Why? Aren’t those costs your responsibility?
So basically you get an income tax. You deduct costs off that income right? But why does the government allow this?

Where can I find a comprehensive list of all possible tax deductions for a sole proprietor S corporation?

As the sole proprietor my corporation is finally growing but I know I will owe enormous taxes if I dont take advantage of deductions available to S corporations. I would appreciate any suggestions. Thank you.

Do sales tax deductions carryover to the next year?

My sales tax deductions exceed my AGI, can I carry the excess over to next year?

What's better, tax deductions or stimulus package?

Using the USA (tax deductions) and Australia (stimulus package) as an example, which is better???
Are there any statistics that support this???