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Deductions Top Related Articles

  • 5). Deducting Alimony Payments  By : Richard A. Chapo
    Over 50% of marriages end in divorce in the United States. Many divorce decrees include provisions for the payment of alimony. The IRS takes the position that such payments constitute a form of income and create an alimony tax deduction for the person making payments. According to the IRS, alimony payments are taxable to the recipient in the year received.
    Article Related to: alimony, divorce, tax deduction, deduction, deductions, taxes, tax, irs

  • 10). List of Tax Records To Keep  By : Richard A. Chapo
    When preparing your taxes, the goal is obviously to deduct every last penny you can. Many people are amazingly good at it. Just keep in mind you need receipts for the deductions. List of Tax Records To Keep Filling out and filing tax returns is really a quest to conquer the mountain. In this case, the mountain is your gross income. The IRS helpfully lets you know this by making you write it down right away and repeat it in various places on your 1040 form.
    Article Related to: tax, taxes, irs, records, tax records, mortgage interest, dependents, receipts, expenses, deductions

  • 13). IRS Audits and the Percentages  By : Richard A. Chapo
    For most Americans, the mere suggestion of an IRS audit is enough to require the changing of the pants. So, what percent chance do you have of an IRS audit? IRS Audits and the Percentages Relax; the percentages of IRS picking you for audit are very small if you have filed your taxes honestly and properly. The IRS gets a couple hundred million tax returns filed every year.
    Article Related to: irs, tax, taxes, audits, percentage, income, unreported, deductions, program


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