For you to be able to deduct the expense, it must be a common, helpful, and appropriate expense for your field of work. An expense does not necessarily have to be “required” for it to be deductible. However, if your employer reimbursed you for the expense, it cannot be included in your deduction.
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Frequently Asked Questions on Affordable Health Care Act
How does the Affordable Care Act affect the tax return?
The tax return (Form 1040) is where individuals covered by the ACA whose gross income exceeds the threshold for filing a tax return are required to report if they have full-year minimum essential health care coverage for every person (taxpayer, spouse and dependent(s)) listed on the tax return.
CELLPHONE TAXES
Wireless and other telecommunications are one of the few services that are consistently subject to sales and use taxes by states with both narrow and broad sales tax bases.
Home Ownership Tax Deductions
How much can you save?
The actual amount of money you save on your annual income tax bill depends on a variety of factors:
WHY INWORKS?
When you file in an InWorks tax office, you have a trusted partner, along with the added education.
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Find out if you overlooked a credit or deduction on past returns with an FREE Review from our InWorks tax professionals.
IN-OFFICE TAX PREPARATION
Need help filing? Please, step into our office.
We know taxes. But we also know what your refund means to you. So no matter what your tax prep needs are, know this: When you file in an InWorks tax office, you have a trusted partner, along with the added education. Together we’re dedicated to getting you your absolute maximum refund guaranteed.
2018 tax plan, in 2 charts
Tax reform is making progress, but there’s still a long way to go. AP/Alex Brandon
Income-tax brackets could change in 2018 if tax legislation is enacted under President Donald Trump.
The Senate’s bill proposes keeping seven tax brackets but changing the income ranges, while the House’s version of the bill would reduce the number of tax brackets to four.
STANDARD DEDUCTIONS CHANGED?
The standard deduction is a specific dollar amount that reduces the amount of income on which you’re taxed.
2018 TOP TAX TIPS
The tax items for tax year 2018 of greatest interest to most taxpayers include the following dollar amounts:
The standard deduction for married filing jointly rises to $13,000 for tax year 2018, up $300 from the prior year.
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