How to Use Work Clothes as a Tax Deduction
If you have to buy a smart new suit for your paralegal job or uniforms for your National Guard duties, it might seem these are obvious work expenses and valid tax deductions. Not necessarily, according to the Internal Revenue Service (IRS). Work clothes that can double as street or evening clothes are no more deductible than anything else in your closet. To claim a deduction for buying clothes, the clothes have to be mandatory for your job and unsuitable for everyday wear. Read more…
Can You Claim Gambling Losses on Your Taxes?
Gambling losses are indeed tax deductible, but only to the extent of your winnings. Find out more about reporting gambling losses on your tax return. Read more…
A Tax Filing Factsheet for eBay Sellers
You can find almost anything for sale on eBay, from a piece of fine art to clippings of Justin Bieber’s hair. So it's no surprise that the IRS doesn't view all sellers alike in the online marketplace. You may not have to pay tax at all if you are essentially hosting an online garage sale, but if you run your eBay account more like a business, you should be reporting your sales to the IRS. Read more…
Top Tax Deductions for Massage Therapists
As a massage therapist, you know how to take care of your clients’ well-being—but you might need some help of your own when it comes to tax time. We’ve got your back! Read on to learn about the top tax deductions you may be eligible for—they just might save some dollars at tax time. Read more…
Military Tax Return Filing and Extensions
U.S. military service members have access to a number of extensions, deferments, and other benefits when it comes to their taxes. Read more…
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