Tax Deductions
The Basics of the Foreign Tax Credit: What It’s For, How to Claim It, and What Else an Expat Needs to Know
This is the the part of Eat, Pray, Love Julia Roberts didn’t show you. Like she was made to live in a faux-inspirational Hallmark movie,…
Your Guide to the Foreign Earned Income Exclusion: How It Works and Which U.S. Expatriates It Applies To
Landing that dream job overseas doesn't mean paying both taxes - but it doesn't mean you can skip. The Foreign Earned Income Exclusion can be…
Can You Write Off Your Kid’s Private School Tuition as a Tax Deduction? It Depends on Your School, Your Student and Your Income
Don't some celebrities get in trouble for trying this? When it comes to private school tuition, the question of whether it is tax deductible depends…
Charitable Contributions: Is Money Raised Through GoFundMe Taxable?
Yeah, GoFundMe isn't like Free Parking on Monopoly. Money raised through donation-based crowdfunding websites such as GoFundMe may be taxable, depending on various factors. Generally,…
Is Child Support Taxable Income or Tax Deductible? No
Child support might be tax neutral, but it's rarely feelings neutral. Child support is tax neutral for both the paying and receiving parents. Child support…
No, There Is No First-time Homebuyer Tax Credit With the IRS
Yeah, the tax credit isn't real. Maybe Santa will bring us one. Oh, wait... Sorry, there is no first-time home buyer tax credit available, as…
What Every Parent Needs to Know About the Child Tax Credit (and the Update Portal)
Just because the monthly check is gone, the tax credit isn't. Parents should be aware that the Advance Child Tax Credit payments, which were monthly…
Funeral Expenses That Are (and Aren’t) Tax Deductible
Death and taxes might be certain, but funeral expense tax deductions are a little less so. Funeral expenses can be a substantial burden on families,…
