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If you are referring to income, pretty much any income that you receive is taxable, the list is extensive but it includes: wages, salary, tips, interest, dividends, rental income, retirement plans, pensions, annuities, social security, royalties, unemployment, bribes (yes bribes), alimony, jury duty, prizes and awards, Pulitzer Prize, Nobel prize, stolen property (yes, if you steal property you must reported as income) and even bartering... yes, I know. Now, when it comes to deductions there are all kinds of deductions that can be claimed, they include: medical and dental expenses, property taxes, mortgage interest and charitable donations, home computer, hobby expenses, legal fees, rental cost for deposit boxes, gambling losses and travel expenses.
It is always a good idea to get some references from friends and family for a good CPA or Tax Preparer that will get into the details of your income and expenses and help you maximize your deductions while minimizing the taxable income. Hope this helps. Roger Hadad, Effectur Inc, www.irs101.blogspot.com
What else can I help you with?
Can you claim street clothes on your taxes?
can you claim street clothes on you taxes
Do you have to claim alimony in federal taxes?
Yes. Basically, any money you receive for any reason should be reported somewhere on your taxes.
How much claim your adult sister taxes?
Unless you totally support her and she is your dependent you can't claim her on your taxes.
Can you claim your married son on your taxes?
No you can not claim a child who is married
Can your daughter claim her taxes when you claim her as a dependent?
I would yes
Can someone claim you on they taxes if you have Medicaid?
You should report having a dependant in the home.
How much should I claim in withholdings on my taxes?
The amount you should claim in withholdings on your taxes depends on your individual financial situation. It is recommended to consult with a tax professional or use the IRS withholding calculator to determine the appropriate amount to claim.
What deductions should you claim on your taxes?
When filing your taxes, you should claim deductions that you are eligible for, such as charitable contributions, mortgage interest, medical expenses, and education expenses. These deductions can help reduce your taxable income and potentially lower the amount of taxes you owe.
Can you claim street clothes on your taxes?
can you claim street clothes on you taxes
What allowances should I claim on my taxes, 1 or 2?
The number of allowances you should claim on your taxes depends on your personal financial situation. Claiming 1 allowance means more taxes will be withheld from your paycheck, while claiming 2 allowances means less taxes will be withheld. It's important to consider factors like dependents, income, and deductions when deciding how many allowances to claim.
Should you claim your three kids when filing your taxes or should their mom?
their mom because they had you the whole while.
Do you have to claim alimony in federal taxes?
Yes. Basically, any money you receive for any reason should be reported somewhere on your taxes.
How many exemptions should I claim on my taxes?
The number of exemptions you should claim on your taxes depends on your personal situation. It is recommended to consult with a tax professional or use the IRS withholding calculator to determine the appropriate number of exemptions for your specific circumstances.
Can you claim real estate taxes on your taxes?
Yes, you can claim real estate taxes on your taxes as a deduction if you itemize your deductions on your tax return.
Claim my child's school lunch on my taxes?
My child has to pay for lunch can I claim that on my taxes?
Can I claim my rent on my taxes as a deduction?
Yes, you cannot claim rent as a deduction on your taxes.
Can I claim rent on my taxes as a deduction?
Yes, you cannot claim rent as a deduction on your taxes.
