Sentences with phrase «on valuable tax deductions»

If they do not ask about a specific expense and you do not provide all the required information, you may stand to miss out on some valuable tax deductions.

According to the IRS, about 75 % of taxpayers take the standard deduction, but could be missing out on valuable tax deductions if they can itemize.

Not exact matches

Taxpayers may be aware of numerous tax breaks, but depending on your income, many deductions may no longer be as valuable — or you may be ineligible entirely.

The tax deduction on your contributions might be more valuable to you now, and your tax bill may be more modest in retirement.

Donating appreciated securities carries valuable tax savings, too — namely, the donor won't owe capital gains taxes on the appreciation in the shares, and he or she can deduct the full market value of the shares at the time of the donation, provided the investor has owned them for up to one year and provided the deduction is less than 30 % of adjusted gross income.

The mortgage interest deduction has long been an important part of the American tax system, and now many lawmakers on Capitol Hill are making their voices heard in defense of this valuable incentive for home ownership.

If you own a home and are looking to save on your taxes, or if you're considering buying a home in 2017 and trying to see if you can afford it, here are five valuable deductions that you may be able to claim if you're a homeowner (Photo: iStockphoto)

If you own a home and are looking to save on your taxes, or if you're considering buying a home in 2017 and trying to see if you can afford it, here are five valuable deductions that you may be able to claim if you're a homeowner