If you work somewhere over the summer that is not your home can you claim a per diem write off for every day you are out there? You can claim per diem for lodging (if your employer didn’t pay for … Continued
Are teachers able to write off their extra expenses that aren’t reimbursed through school/classroom funds? An eligible educator can deduct up to $250 of qualified expenses. An eligible educator is a teacher, instructor, counselor, principal, or aide for K-12 who … Continued
Is there a way to claim interest on a student loan that you are paying but is in your parents name, if you have all the documentation proving you’ve paid it? Obviously, the interest deduction can only be claimed by … Continued
You can write off qualified medical and dental expenses over 10.0% (As of 2013, there are exceptions for the elderly) of your AGI. For example, if you have an adjusted gross income of $50,000, 10.0% would be $5,000. If you … Continued
Did you know that there is a standard medical mileage rate of 23 cents per mile? The mileage that you can include has to be primarily for, and essential to, medical care. For example, if you drive 10,000 miles at … Continued
An Archer Medical Savings Account (MSA) is a tax deductible savings account to save for medical expenses. This is a good savings account because it earns interest, which could be tax deferred or even tax-free. The biggest benefit is that … Continued
An employer-provided cell phone is NOT considered income. Since the company is giving you a cell phone or business purposes, the business will write it off as an expense. Same goes for is they are reimbursing you for your personal … Continued
If you have a employer-provided vehicle, the personal use of that vehicle IS taxable. You employer can choose not to withhold income tax on this amount, but you must be notified.