Individual and Corporate Tax Preparation | Accounting Services | Coral Springs, Fl | 954-828-2373
Personal property taxes may be deducted on your federal income tax return if you itemize deductions. Deductible personal property taxes are based on the value of personal property, such as boats, cars, or other tangible personal property. The personal property tax …
Sales Taxes may be deducted on your federal income tax return if you itemize deductions. Actually, you may deduct the greater of your state income taxes or your sales tax paid, but not both. The sales tax deduction is only available for …
State Tax Deduction State Income Taxes Deduction may be deducted on your federal income tax return if you itemize deductions. Actually, you may deduct the greater of your state income taxes or your sales tax paid, but not both. Seven states …
Employee Business Expense Tax Deduction Employee business expenses, including business travel expenses, may be deducted on your income tax return if you itemize deductions, but are subject to certain limitations. Business entertainment, meals, lodging, and business gifts may be tax deductible, but …
Job Educational Expenses, if you work for an employer, may be deducted under miscellaneous itemized deductions on Schedule A. They are subject to the 2% of adjusted gross income deductible. If you are self-employed, deduct all your job educational expenses …
Legal Fees are sometimes tax deductible, but since laws are complicated and difficult to comprehend, it is important to deduct correctly to avoid an audit. Deduct your business-related legal costs as a business expense. If self-employed, deduct your legal costs on Schedule C, including attorney fees …
Job Search Expenses in your present occupation may be deducted as unreimbursed employee expenses if you itemize deductions using Schedule A. Your total of miscellaneous itemized deductions on Schedule A, which include job search expenses are subject to a deductible of 2% …
Schedule C – Self Employed Business Income Business income is reported on Schedule C Profit or Loss from Business when an individual or independent contractor set up a sole proprietorship and receives income from the sale of products or services. …
Social Security Income Taxable Social Security income benefits may be taxable or non-taxable depending on your total income. You must show on your tax return the gross amount of social security received before any deductions such as medicare premiums. You …
Unemployment Compensation Taxable Unemployment compensation is taxable and must be included in gross income. Report unemployment compensation on page 1 of Form 1040. The maximum dosage that a user would want to use would be 2.5mgs per day. twomeyautoworks.com generic …