Category Archives: Ever wonder
Selling Your Home? Taxes?
Article Highlights Individuals can exclude up to $250,000 ($500,000 for a married couple filing jointly) of gain from the sale of their primary residence. Generally, to qualify for the exclusion, the home must have been owned and used as a … Continue reading
Tax Tips for the Well-traveled Businessperson
As you probably already know, food and lodging expenses can be deducted when you are away from home for business purposes. This may be particularly beneficial to self-employed individuals who travel extensively. Like everything in the tax law, there are … Continue reading
Tips to Make Filing Less Taxing
Doing your taxes shouldn’t be taxing. This year you can make preparing and filing your federal income taxes easier. These tips from the IRS can help. • Don’t delay. Avoid doing your taxes at the very last minute. If you rush … Continue reading
Posted in All Taxpayers, Ever wonder, Have you ever asked, IRS Tips
Tagged Filing taxes
Leave a comment
Itemizing vs. Standard Deduction: Six Facts to Help You Choose
When you file a tax return, you usually have a choice to make: whether to itemize deductions or take the standard deduction. You should compare both methods and use the one that gives you the greater tax benefit. The IRS … Continue reading
Posted in All Taxpayers, Ever wonder, Have you ever asked, IRS Tips
Tagged Itemizing, standard deduction, taxes
2 Comments
Claiming the Child and Dependent Care Tax Credit
The Child and Dependent Care Credit can help offset some of the costs you pay for the care of your child, a dependent or a spouse. Here are 10 facts the IRS wants you to know about the tax credit … Continue reading
Posted in All Service Providers, All Taxpayers, Ever wonder, Have you ever asked, IRS Tips
Tagged Child care, dependent care, tax credits
Leave a comment
Take Credit for Your Retirement
Saving for your retirement can make you eligible for a tax credit worth up to $2,000. If you contribute to an employer-sponsored retirement plan, such as a 401(k) or to an IRA, you may be eligible for the Saver’s Credit. … Continue reading
Posted in All Taxpayers, Ever wonder, Have you ever asked, IRS Tips, Retirement Planning
Tagged Retirement, tax credits, taxes
Leave a comment
Seven Important Tax Facts about Medical and Dental Expenses
If you paid for medical or dental expenses in 2012, you may be able to get a tax deduction for costs not covered by insurance. The IRS wants you to know these seven facts about claiming the medical and dental … Continue reading
Posted in All Taxpayers, Ever wonder, Have you ever asked, IRS Tips
Tagged Medical deductions, taxes
Leave a comment
Social Security benefits and your taxes.
Some people must pay taxes on their Social Security benefits. If you get Social Security, you should receive a Form SSA-1099, Social Security Benefit Statement, by early February. The form shows the amount of benefits you received in 2012. Here … Continue reading
Posted in All Service Providers, All Taxpayers, Ever wonder, Have you ever asked, IRS Tips
Tagged Social Security, taxes
Leave a comment
Murray Tax Services 