Deductions
Reduce your taxable income by claiming the available deductions to you. Updates to the itemized deduction thresholds, amounts, eligibility requirements; and standard deduction increase.
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Montana Personal Deductions and Credits
Montana is a taxpayer-friendly state with low sales and property taxes. However, its income tax rate is fairly high. To…
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Tax Consequences of Buying vs. Renting a Home
Renting has its benefits, including less hassle, the flexibility to move when your lease ends, and lower upfront costs. But…
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IRS Tax Forgiveness Program
An IRS tax forgiveness program can help taxpayers manage their back tax debt. These include installment agreements, offers in compromise,…
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Tuition and Fees Deduction 2023 - 2024
The tuition and fees deduction allowed taxpayers to subtract up to $4000 of education-related expenses from their federal taxes. This…
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Mortgage Interest Deduction
The mortgage interest deduction is a tax break that allows households to deduct a limited amount of their home mortgage…
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Foreign Earned Income Exclusion
The Foreign Earned Income Exclusion (FEIE) is designed to help taxpayers who live and work abroad avoid double taxation and…
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Rental Property Tax Deductions
The taxation of rental property can be a complicated process. It’s easy to miss out on valuable deductions with changing…
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Tax Deductions For Small Businesses
A small business is a privately owned company that sells goods or services and employs less than a certain number…
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179D Deduction
The 179D Deduction is a powerful tool that can save a company significant amounts of money in the long run.…
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7 Tax Tips for Individual Filers
Filing taxes as an individual is an important responsibility that most individuals encounter each year. Understanding the process and requirements…