Itemized Deductions | The TurboTax Blog

What Medical Expenses are Tax Deductible?

February 28, 2020 / Philip Taylor

The article below is up to date based on the latest tax laws. It is accurate for your 2019 taxes (filed in 2020). Even with good insurance and a low deductible, no one truly enjoys paying medical bills. One bright...

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Income and Investments

Tax Tips for Gambling on College and Professional Sports

February 27, 2020 / Jim Wang

Every year, I join a fantasy football league with my friends and every year, I lose. So for me, unfortunately, my limited sports gambling has no impact on my taxes. But if you frequently place bets on sporting events, and...

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Tax Planning

5 End of Summer Planning Tips to Help You Save at Tax Time

September 20, 2019 September 25, 2019 / Jim Wang

We all like the idea of saving money come tax time but tax tips seem to only come at the end of the year. We’re going to change it up a little and provide a five tips you can do right now that should make life easier come tax time.

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Self-Employed

Tax Tips for Coaches

July 9, 2019 July 23, 2019 / Jim Wang

Almost every kid played some type of sport while growing up. From basketball games to dance practice, sports can be a big part of a kid’s childhood and for most of those kids, receive instruction every week from a coach....

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Home

What Parts of My House Payment are Tax Deductible?

July 6, 2019 July 9, 2019 / Elle Martinez

Even though it took a few years of careful research and some thoughtful house hunting (so grateful for our real estate agent!), we’re really happy with the home we’re in now. Being homeowners of a slightly older house has definitely come...

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Home

What Your Summer Home Renovations Mean for Your Taxes

June 3, 2019 January 2, 2020 / Ginita Wall, CPA, CFP®

At last, the sun is shining, the birds are chirping and it’s time to kick back and enjoy the summer. But wait, do you cringe every time you look around your home and backyard? Are the turquoise and pink décor...

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Tax Deductions and Credits

Tax Considerations for Cancer Patients

April 15, 2019 July 22, 2019 / kendyll

After receiving a cancer diagnosis, a patient may wonder about the financial responsibility that will accompany it. Most insurance plans will cover some of the bills, but cancer patients may have additional expenses that they pay for. Fortunately, cancer patients...

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Tax Planning

TurboTax Answers Most Commonly Asked Tax Questions

April 11, 2019 July 23, 2019 / TurboTaxBlogTeam

The tax deadline is almost here, and with the tax deadline comes a wide range of tax questions from filers. These questions range from those asked routinely “can I claim my boyfriend/girlfriend as a dependent?” to those specific to disaster...

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Tax Reform

3 Important Tax Reform Tips To Get the Filing Party Started

March 1, 2019 July 22, 2019 / TurboTaxBlogTeam

Can you believe that it’s March? Not only is the year flying by, but that means we’re in the middle of tax season too. If you have been waiting to file your taxes, don’t! Now is the best time to...

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Tax Deductions and Credits

Treat Your Single Self With These Tax Benefits

February 15, 2019 July 18, 2019 / Elle Martinez

Now that we’re in the heat of tax season, have you started filing your taxes yet? We managed to get my husband’s W-2 in the mail along with some 1099s, so I spent last weekend entering them into TurboTax (love how...

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