Tag Archives: Tax changes

Moving Expenses May Be Deductible

Taxpayers may be able to deduct certain expenses of moving to a new home because they started or changed job locations. Use Form 3903, Moving Expenses, to claim the moving expense deduction when filing a federal tax return. Home means the taxpayer’s main home. It does not include a seasonal home or other homes owned…
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What is the Child Tax Credit?

This credit is for people who have a qualifying child. It can be claimed in addition to the Credit for Child and Dependent Care expenses Publication 972, Child Tax Credit Schedule 8812, Child Tax Credit Ten Facts about the Child Tax Credit The Child Tax Credit is an important tax credit that may be worth…
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What can I deduct from my taxes?

You should track every business expense and comb over them Keens Tax at the end of the year to ensure you only take legitimate deductions, both to minimize your risk of audit and to have the documentation in place in case the IRS ever comes knocking. Possible Deductions for Taxes Accounting fees Advertising Amortization Auto expenses Bad…
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Standard deduction versus Itemized deduction what is the difference?

Six Facts about Choosing the Standard or Itemized Deductions When filing your federal income tax return, taxpayers can choose to either take the standard deduction or to itemize their deductions. The IRS has put together the following six facts to help you choose the method that gives you the lowest tax. Whether to itemize deductions…
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