by Ask Ms. Tax | Feb 24, 2016 | Tax Tips
Give to receive! Charitable donations, whether in cash or in kind, to a qualified organization can net you a tax deduction equal to the amount of cash or the value of the items donated. A quick way to track these donations are to ask for a receipt from the...
by Ask Ms. Tax | Feb 18, 2016 | Tax Tips
Investing in the market can be a smart way to grow your hard-earned money. But it can also be expensive. However, you may be eligible to deduct the investment fees you paid. This could add up to some pretty deductions and tax savings. Remember, every deduction counts....
by Ask Ms. Tax | Feb 12, 2016 | Tax Tips
So you bought a new house and wasn’t able to make that hefty down payment and now the bank would like you to pay mortgage insurance (MIP). While those premiums are often small in relation to your overall payment, those amounts do add up. But lucky for you, your super...
by Ask Ms. Tax | Feb 11, 2016 | Tax Tips
The biggest purchase many Americans make is their home. And for many, this purchase will involve obtaining a mortgage. Mortgage interest–and the related points paid at closing–can be deducted on your tax return for interest paid on mortgages less than $1...
by Ask Ms. Tax | Feb 10, 2016 | Tax Tips
Did you know that state income taxes are deductible? It’s true! If you paid tax to any state or had state tax withholding, you are able to take a deduction for those amounts on your tax return. Didn’t pay state income tax? No worries. You may be able to deduct sales...
