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What Medical Expenses are Tax Deductible in 2023 and 2024

The term medical is used broadly, but it does include dental and vision expenses. So whether you’ve gotten contact lenses, glasses, veneers, braces, or root canals this year, you can claim the medical expenses tax deduction. It doesn’t just stop there, … See more

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What is the Standard Deduction and When Should You Take It

WEBThe standard deduction is a mechanism that reduces the amount of income that’s eligible for tax. For the current tax year, the standard deduction is worth $12,000 …

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New Tax Credits and Deductions in 2023 and 2024

WEBThe Tax Cuts and Jobs Act (TCJA) increased the credit up to $2,000 until 2025 to offset the removal of many personal exemptions. Income phaseouts have also …

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Who Can Qualify for The Earned Income Credit

WEBThe EITC is available for both single-filing individuals and families. All family members and filers must have a valid social security number, and be between the ages …

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How the Student Loan Interest Tax Deduction Works

WEBStudent loan interest can quickly add up. That’s why the Federal government introduced the student loan interest tax deduction in 2023 and 2024 to help ordinary …

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Federal Tax Deductions for Home Renovation in 2023 and 2024

WEBYou can receive a federal tax credit of 30% of the price of eligible geothermal heat pumps, solar power hot water heaters, photovoltaic panels, compact wind …

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American Tax Service – Helping Americans File Their Taxes

WEBEarned Income Tax Credit & Credit Table. November 28, 2023 Credits americantax. Although an incredible number of families currently claim this valuable tax …

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What is a W-2 Form in 2023 and 2024

WEBLearn how you can get your W2 form online fast with the online W2 finder. The W-2 Form in 2023 and 2024 is one of the most essential forms in the tax world. It …

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What is the IRS Mileage Rate Tax Deduction

WEBThe standard mileage rate for medical miles is 22 cents per mile driven, and for charity work, the mileage rate is 14 cents per mile driven. All types of mileage have …

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Insurance Archives – American Tax Service

WEBHomeowners are usually well informed about the home-related tax deductions that they can make at filing time. However, when purchasing a home, other costs can quickly …

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Deducting (PMI) Private Mortgage Insurance

WEBPMI is Tax-Deductible. This income tax deduction was developed as an element of the Tax Relief and Health Care Act of 2006 and was initially added to private …

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Mortgage Archives – American Tax Service

WEBThe largest tax deduction most people can claim on any mortgage is on the interest paid on the loan. In most cases, mortgage refinance interest is tax-deductible, which means you …

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What is Capital Gains Tax on Your Home Sale

WEBThe long-term capital gains will be taxed at 0%, 15%, or 20%, depending on the investor’s taxable income and filing status, excluding any state or local capital gains …

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How Can I Get My W2 Form Online in 2023 and 2024

WEBThe database is updated on a weekly basis. You can get an online copy of your W2 form free of charge in 2023 and 2024, so you can get started on your taxes as …

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What is Capital Gains Partial Exclusion for Home Sale

WEBThe capital gains exclusion is an IRS tax provision that allows you to exclude a certain amount of your capital gains from your taxable income. For example, if you …

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Home Equity Loan Tax Deduction in 2023 and 2024

WEBThe standard deduction will be $24,400 for married couples filing jointly and $12,200 for taxpayers filing as individuals. The AMT exemption will be $71,700 for …

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Should I Cash Out My 401K in 2023 and 2024

WEBApart from this tax cover, you will be expected to pay both federal and state income taxes, as well as a 10% early withdrawal fee (provided you’re under the age of …

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Rental Property Tax Deduction in 2023 and 2024

WEBRental Property Tax Deduction. americantax August 1, 2023 Deductions. Deciding to become a landlord can be highly beneficial for you financially. However, it …

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H&R Block Online Services Are Unavailable At This Time

WEBamericantax August 1, 2023 Tax. Due to internal issues at H&R Block, their online services are unavailable from this site at this time. We do, however recommend TurboTax in the …

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