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Taxpayers can take advantage of numerous tax deductions, also known as tax write-offs, to lower their tax bill or receive a refund from the IRS come tax season. Learn More: Trump-Era Tax Cuts...
For tax year 2024, the standard deduction is $14,600 for single filers and married individuals filing separately, $21,900 for heads of household, and $29,200 for married couples filing jointly ...
“A few deductions or tax positions could add an extra $1,000 to this year’s return,” said Johan Garcia, CPA, owner and sole author of After Tax Cash and principal of JG CPA & Advisory.
So, if your home office is 20% of your living space’s total square footage, you can deduct 20% of your total rent or mortgage interest for the year plus 20% of the total utilities for the year ...
Self-Employed Taxpayers Could Qualify For a Home Office Deduction. ... 5 Unnecessary Bills You Should Stop Paying in 2024. Use This Checklist To See Whether Your Bank is Costing You a Lot of Money.
Student loan interest deduction and taxes for forgiveness. Student loan payments resumed this fall, so you may be eligible to deduct the interest. "Federal student loan borrowers who were required ...
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