deductions »
A hobby or a business activity?
Top Takeaways 1: Hobby is something you pursue without expecting to make a taxable profit There are many factors considered by the IRS when deciding whether certain activities are a business or a hobby.
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Stop Shaving and Grow the ‘Stache’ for a Tax Deduction
There are plenty of credits and deductions that apply to specific groups of people, be it homeowners, teachers, or students. But why not for the mustached cohort of taxpayers? The American Mustache Institute is
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Tuition and Educational Fees Tax Deduction
Top Takeaways 1: Tuition fees must have been paid for yourself, your spouse, or your dependent To deduct tuition and fees the expenses must have been paid during the year for yourself, your spouse,
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Tax Tips for Unemployed
Top Takeaways 1: Unemployment benefits are taxable If you were unemployed the full year in 2011, then it is possible that your income was too low to cause a tax bill. But, if you
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Educational Tax Incentives
Top Takeaways 1: May Deduct Tuition Expenses One such tax incentive is the ability to deduct college tuition expenses. There are limits and income ranges for this deduction, and the maximum amount you can
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