Sentences with phrase «valuable tax deductions if»

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

Do you think the federal government's financial issues today will force it to raise tax rates overall by the time you retire?Keep in mind that you might lose some valuable deductions and tax credits, such as those for your home mortgage or kids, in retirement that would increase your taxable income and tax rate, even if your gross income doesn't rise.

With (1) I get to use my interest payments as tax deductions each year, which is only valuable if it bumps me into a lower tax bracket.

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.

If the answer is yes, then a Roth IRA is better (because the benefit gained from a Roth — tax - free distributions in retirement — will be more valuable than the benefit gained from a traditional IRA — a current deduction).

One analysis, provided by Evan M. Liddiard, senior federal tax policy representative for the National Association of Realtors, maintains that if you raise the standard deduction dramatically, «itemized deductions become less relevant» and previously valuable and distinctive «tax incentives [for] home ownership evaporate even while taxes are not necessarily being reduced.»

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: iStockphotIf 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: iStockphotif 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: iStockphotif you can afford it, here are five valuable deductions that you may be able to claim if you're a homeowner (Photo: iStockphotif 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 homeownIf 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 homeownif 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 homeownif you can afford it, here are five valuable deductions that you may be able to claim if you're a homeownif you're a homeowner