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Tax Deductions for Mortgage Points

Many homebuyers and homeowners take advantage of the federal tax deduction for mortgage points.Mortgage points refer to certain charges that are paid to attain a…

Tax Deductions for Homeowners

If you own a home there are many income tax deductions that you can take advantage of.There is no denying that you spend a lot…

Understanding itemized tax deductions

There are certain expenses that qualify as a deduction on your income tax return. These are often times referred to as itemized deductions. Many people…

2010 Tax Deductions

No matter the year, there are sure to be tax deductions for individuals to take advantage of. This definitely holds true for 2010. There are…

The Expanded Kiddie Tax and How to Offset It

For taxpayers with children under the age of 14, the Kiddie Tax was implemented in 1986 to insure that higher tax-bracketed parents did not transfer…

Planning for the Kiddie Tax

The Kiddie Tax requires that unearned income generated by children under age 19 (or 24 for full-time students) is taxed at their parents' rate rather…

Child Tax Credit Refunds

In order to potentially claim a refund of the Child Tax Credit, it is recommended that any and all other tax deductions or tax credits…

Filling Out the Child Tax Credit Worksheet

In order to potentially claim a refund of the Child Tax Credit, it is recommended that any and all other tax deductions or tax credits…