Sentences with phrase «expenses on their federal income tax returns»

Taxpayers may be able to deduct several types of medical expenses on their federal income tax returns.

IRS rules prevent you from obtaining more than one tax benefit from the same expenses on your federal income tax return.

If you are looking for a new job that is in the same line of work, you may be able to deduct some of your job hunting expenses on your federal income tax return.

Not exact matches

This can include itemized deductions which are eligible expenses that an individual taxpayer may report on their Federal income tax return.

Both Espada and his son also face a separate criminal tax fraud trial in Manhattan federal court on charges that they deliberately misstated their income, filed false returns and intentionally mislabeled personal expenditures utilizing corporate funds as legitimate business expenses.

An itemized tax deduction is a qualified expense by which a US taxpayer can claim on their Federal tax returns in order to lower their taxable income.

When you take a loan and invest the proceeds, the interest that you pay on the loan is deductible on Schedule A, Line 14 of your Federal income tax return under the category of Investment Interest Expense.

Allows a deduction for unreimbursed expenses that are paid by a living organ and tissue donor that have not been taken as a medical deduction on the taxpayer's federal income tax return.

The information was discovered after the racetrack owner deducted the stock value from her federal income tax returns, based on her belief that the payoff was a necessary expense to do business in Illinois.

This means the LLC's income and expenses are reported on the Schedule C of the federal income tax return.