Tax Guides > Tax Deductions and Credits

Recent Guides in Tax Deductions and Credits

• How to Calculate Your Lifetime Learning Tax Credit on IRS Form 8863

  Tax credits like the Lifetime Learning Tax Credit (LLTC) provide a dollar-for-dollar reduction of your taxes owed, rather than the reduction in your taxable income that is offered by a deduction. You must qualify according to Internal Revenue Service criteria before you can claim the LLTC.  Read more…

• Child Tax Credit

  Depending on your income and the age of your children, you could score a hefty income tax credit and possibly earn a tax refund. Read more…

• 10 Tax Tips for the Suddenly Unemployed

  If you are facing unexpected unemployment, you may be eligible for a variety of income tax benefits. Read more…

• Serving Uncle Sam: Tax Breaks for the Military

  Military families are eligible for special tax breaks from the government. Many are also eligible for free tax filing with TurboTax.  Read more…

• Alternative Minimum Tax: Common Questions

  The Alternative Minimum Tax (AMT) was designed to keep wealthy taxpayers from using loopholes to avoid paying taxes. But because it was not automatically updated for inflation, more middle-class taxpayers were getting hit with the AMT each year. Congress traditionally passed an annual "patch" to address this until, in January 2013, as part of the "fiscal cliff" deal, they passed a permanent patch to the AMT. Read more…

More Guides in Tax Deductions and Credits

• How to Maximize Your Itemized Tax Deductions

• 5 Things You Should Know About Refundable Tax Credits

• Charitable Contributions You Think You Can Claim but Can't

• Tax Tips for the Deaf

• The 5 Biggest Tax Credits You Might Qualify For

• Tax Law Changes That Can Fatten Your Refund

• 2009 Stimulus Package: What's Still In It For You in 2010

• Home Ownership Tax Deductions

• Tax Credits for Those Affected by Natural Disasters

• Tax Deductions for Funeral Expenses

• IRS Moving Expense Deductions

• Video: What is the Standard Tax Deduction?

• Video: What Are Itemized Tax Deductions?

• How Does Your Charitable Giving Measure Up?

• A Stimulus Boost for Some Earned Income Tax Filers

• Charitable Contributions

• Video: How to Claim State Taxes on a Federal Tax Return

• Video: Can We File Two Primary Residences if Filing a Joint Tax Return?

• Video: How to File a Tax Return With Adult Dependents

• Deductions for Sales Tax

• Video: Tax Credits When Adopting a Child

• What Is the Difference Between a Refundable and a Nonrefundable Credit?

• Filing Tax Form 2441: Child and Dependent Care Expenses

• Video: How to Get All The Tax Deductions Possible When Filing

• Video: Can an Unmarried Couple File Jointly?

• Video: Tax Credits for Disabled Dependents

• Top 10 Tax Deductions You're NOT Taking

• Video: Changes in the Standard Deduction for Certain Tax Filers

• When to Use Schedule EIC: Earned Income Credit

• What Is "Cafe 125" on a W-2 Tax Form?

• Federal Tax Laws on Mileage Reimbursement

• Steps to Claiming an Elderly Parent as a Dependent

• New Addition: Adoption Tax Credits

• Guide to Schedule R: Tax Credit for Elderly or Disabled

• Filing Tax Form 8936: Qualified Plug-in Electric Drive Motor Vehicle Credit

• Running for the (Tax) Shelter

• Sweet Child of Mine: Tax Credits for Parents

• Spread the Wealth, Carefully, with Tax-Free Gifts

• Driving Down Taxes: Auto-Related Tax Deductions

• 5 Facts About the Earned Income Tax Credit

• Going Green? Top Tax Breaks

• Top Tax Write-offs for the Self-Employed

• The Land of Unknown Tax Deductions

• 7 Tax Advantages of Getting Married

• Mobile Phones, Internet and Other Easy Tax Deductions

• What Is The Savers Credit?

• 7 Requirements for the Child Tax Credit

• What Are Home Renovation Tax Credits?

• Tax Deductions for Diabetes

• Tax Deductible Pregnancy Medical Expenses

• What is the IRS Form 8812?

• What is the IRS Form 5405?

• What are Tax Benefits?

• Deductions Allowed for Contributions to a Traditional IRA

• Are Contributions to Nonprofit Schools Tax Deductible?

• About Casualty Deduction for Federal Income Tax

• About Student Loan Tax Credits

• Video: How to Get IRS Tax Relief for the Disabled

• Video: What Are Tax Benefits?

• Video: Does the IRS Allow Deductions for Donated Work?

• Video: Federal Tax Incentives: The Wind Power Tax Credit

• Video: How to Track Tax Deductions

• How Do I Estimate the Value of My Donated Car for My Tax Deduction?

• About Tax Deductions for a Mortgage

• What Are Standard Tax Deductions?

• What Are Itemized Tax Deductions?

• What are Education Tax Credits?

• What is a Schedule A IRS form?

• How Do I Claim Someone As a Dependent on Taxes?

• What is IRS Publication 502?

• What Is My Income Tax Deduction Based On?

• What is the IRS Form 8863?

• How to Write Off Sales Taxes

• How Do Tax Deductions Work When Donating a Car?

• How to Use Work Clothes As a Tax Deduction

• What Filing Status Deducts the Most Taxes?

• What Happens When Both Parents Claim a Child on a Tax Return?

• Is Interest on Credit Cards Tax Deductible?

• What is the Lifetime Learning Tax Credit?

• What Percent of Church Giving Can Be Taken Off Federal Taxes?

• Video: What Are Tax Credits?

• Video: Expenses That are Tax Deductible When Working From Home

• Video: Federal Tax Deductions for Home Renovation

• Federal Tax Credit for Solar Energy

• Can I Write Off Credit Card Interest on My Taxes?

• Can I Deduct My Computer for School on Taxes?

• Can I Claim Medical Expenses on My Taxes?

• 10 Strange But Legitimate Federal Tax Deductions

• Are GI Benefits Considered Income on Your Tax Return?

• Are Energy Efficient Appliances Tax Deductible?

• Are College Entrance Exams Tax Deductible?

• What is the American Opportunity Tax Credit?

• What Are Tax Deductions?

• What Are Energy Tax Credits?

• What Are Disability Tax Credits?

• What Are Dependents?

• Video: How to Estimate the Value of Clothing for IRS Deductions

• Video: Common Income Tax Deductions

• Video: What Is the Lifetime Learning Tax Credit

• Video: What Are Tax Breaks?

• Video: Federal Tax Credit for Solar Energy

• Video: 2012 Tax Tips for Students

• Video: What Are Tax Deductions?

• Video: What Are Energy Tax Credits

• Video: The 2010 Energy Tax Credit

• Employees Can Deduct Workplace Expenses

• Video: Deducting Charitable Contributions

• The Lowdown on Education Tax Breaks

• Video: Can I Deduct the Cost of a New Computer on My Taxes?

• Video: TurboTax Searches Over 350 Tax Deductions

• Video: IRS Rules for Charitable Giving

• Video: Save Taxes by Saving Energy

• Video: Making Work Pay Tax Credit 2009

• Video: The New 2009 Tax Deduction for Car Buyers

• Deducting Contributions to Haitian Earthquake Relief on Your 2009 Return

• Unmarried First-Time Homebuyers: Who Gets the Credit for a 2010 Purchase?

• Homebuyer Tax Credit: 7 Surprising Facts

• Energy Tax Credit: Which Home Improvements Qualify?

• Cash for Clunkers: Don't Overlook Sales Tax Break

• Uncle Sam to the Rescue

• New Making Work Pay Credit Increases Your Take-Home Pay

• Taking the First-Time Homebuyer Credit

• Deduct the Sales Tax Paid on a New Car

• Top 10 Oddball Tax Deductions

• The 10 Most Overlooked Tax Deductions

• Tax Deduction Wisdom - Should You Itemize?

• Capital Gains and Losses

• Deducting Mortgage Interest FAQs

• Taking Business Tax Deductions

• Earned Income Credit

• Birth of a Child

• Deducting Medical Expenses for a Major Illness or Injury

• Buying a Second Home - Tax Tips for Homeowners

• Video: About The Earned Income Credit (EIC) for 2009 Taxes