When evaluating the tax benefit of medical expense payments, it is important to know that you must incur significant medical expenses before the first ...
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Mortgage interest for up to two residences is deductible on Federal Schedule A. If you have a third home, the interest might be deductible as business ...
Generally, state and local taxes, real estate taxes, personal property taxes and foreign taxes (real property and income taxes) are all deductible but ...
Contributions First, let’s look at what type of organization qualifies to receive deductible contributions. The organization has to be a domestic ...
Bell was denied favourable goods and services tax (“GST”) treatment of its purchase of electricity, which was determined to be a single supply for ...
A casualty or theft loss is allowed only if the property is located within an area officially declared a federal disaster area. All emergency and major ...
The 2017 Tax Cuts and Jobs Act suspended miscellaneous itemized deductions for federal tax purposes; however, they are still available as itemized ...
This series is intended to cover the most common deductions. Please keep in mind that there are always exceptions; what’s more, your situation or facts ...
Itemized Deductions: From Common and Easy to Unusual and Tricky For most taxpayers, questions about what is deductible far outnumber the questions ...
