No one likes to feel like they’re missing out. Especially when it comes to opportunities to pay fewer taxes. As this year’s tax deadline approaches, let’s take a look at some of the most commonly missed tax deductions.
Q: I was diagnosed cancer with this year, and am currently receiving treatments. Will this have any affect on my tax situation? A: I am sorry to hear about your diagnosis, but hopefully this information will help you. If you have...
We’re kicking off a brand new series on the blog that is all about you. Or, more specifically, all about your tax questions. Each month, visit the TurboTax Blog to learn about a different trending question from the TurboTax AnswerXchange,...
When filing your taxes, how do you choose which deduction to take? The standard deduction or itemized deductions? TurboTax software solves these questions for you by choosing the option that gives you the biggest tax refund. Find out more about standard deductions vs. itemized deductions here.
This year, those who itemize their deductions have a choice to deduct, either the amount of state income tax paid or state and local general sales taxes paid. It’s either/or, you cannot take both. Find out more here.
You can deduct your medical expenses, your spouse’s expenses (provided you’re filing jointly), or your dependent. You have to itemize your deductions and the expenses must be more the 7.5% of your AGI. Find out what expenses qualify.
Every year you’re faced with one important tax question: should you itemize or just use the standard tax deduction? For some people this is an easy question, but for others who may be thinking about the difference for the first time, it can be a little confusing and intimidating.