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Tax Deductions

2015 Federal Tax Rates, Personal Exemptions, and Standard Deductions

IRS Tax Brackets and Deduction Amounts for Tax Year 2015This article gives you the tax rates and related numbers that you will need to prepare…


Tax Tips for People Who Earn Income From a Hobby

Is your favorite pastime classified as a business or a hobby? Here's how the IRS sees it.Millions of people enjoy having hobbies — whether it’s…


Tax Breaks for Parents

Raising a child is expensive, but you can partially offset some of the expenses by utilizing tax deductions and tax credits that are available to…


Adjusted Gross Income (AGI) vs. Modified Adjusted Gross Income (MAGI)

What's the Difference Between Your AGI and MAGI?When it comes to tax returns, you will often hear two different terms regarding income: Adjusted Gross Income…


Who Has to File a Federal Income Tax Return?

How to Determine If You Should File a Tax Return With the IRSAre you wondering if you need to file a tax return? While most…


How to Deduct Your Job Hunting Expenses

Job Search Expenses Can Be Tax-DeductibleIf you have been looking for work this past year, you might be in luck come tax time. Certain job…


2014 Federal Tax Rates, Personal Exemptions, and Standard Deductions

IRS Tax Brackets and Deduction Amounts for Tax Year 2014Below are the tax rates and related numbers that you will need to prepare your 2014…


5 Top Tax Deductions for Individuals

Don't Miss Out On Deductions That Reduce Your Income Tax LiabilityOne of the best ways to reduce your income tax liability (and possibly increase your…