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.

Can I Deduct My Home Office Utilities on My Taxes?
With remote work now an everyday reality, many people are asking: can I deduct my home office utilities on my…
OTC Medications: Are They Deductible?
When tax season rolls around, many people wonder if the money spent on over-the-counter (OTC) medications—like pain relievers, allergy pills,…
Can I Write Off First Class Travel?
If you’ve ever wondered if you can write off first class travel, you’re not alone. Creative professionals, entrepreneurs, and business…
Can I Deduct Bank Fees? Your Complete Guide to Bank Fee Deductions
If you’ve ever stared at your bank statement and wondered, “Can I deduct bank fees?” you’re not alone. With the…
Does Home Internet Count as Supplies and Tools?
If you’ve ever wondered, “does home internet count as supplies and tools?”—especially when it comes to tax deductions for freelancers,…
Is Water Damage to Your Home Tax Deductible?
When it comes to unexpected events like water damage, homeowners often wonder if they can claim these expenses on their…
Can Kindergarten Tuition Be Claimed on Taxes?
The short answer is no—kindergarten tuition cannot be claimed on taxes. This is because the IRS classifies kindergarten as an…
Can You Deduct Property Taxes From Capital Gains?
When selling a property, understanding how property taxes and capital gains interact is crucial for managing your tax liability. Many…
Are COBRA Payments Tax Deductible?
COBRA payments, which allow individuals to continue their employer-sponsored health insurance after losing a job, can be tax-deductible under certain…
Do You Have to Pay Taxes on Money Given to You When Someone Dies?
When someone passes away and leaves you money or assets, the question of whether you have to pay taxes on…