Itemizing deductions is only beneficial of those deductions will exceed the standard deduction. If you’re using a tax software program it will guide you as to what you should do. If you do opt to itemize your deductions, you will need forms including 1098 (mortgage interest) as well as receipts for expenses such as charitable contributions, unreimbursed employer business expenses, and medical expenses.
Most states require a separate state tax return to be filed. There are seven states that don’t collect state income tax: Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming.
Are you planning your next trip? Thinking about retiring in a quiet and safe place?…
Respect the expert’s opinion It’s not easy becoming a doctor. It takes years of hard…
If you’ve paid any attention to the news lately, you’ve probably seen the surprising developments…
If you want to sell your home and get the best price for it, the…
When you’re finally ready and able to buy a house, even if it’s not your…
More and more seniors are researching towns across the U.S. where they could settle down.…