Tags » Itemized Deduction

Confused about the Home Office Deduction? Answers are here!

Business Use of Home

(Home Office Deduction)

 Whether you use your home for business full-time or part-time, you may be able to deduct certain expenses, either as a business expense (if you have a business personally) or as an itemized deduction on your Schedule A (when you work for someone else). 919 more words

Income Tax

TurboTax AnswerXchange Question of the Month: Standard vs. Itemized Deductions?

We’re kicking off a brand new series on the blog that is all about you. Or, more specifically, all about your tax questions. Each month, visit the TurboTax Blog to learn about a different trending question from the… 238 more words

Tax Deductions And Credits

Six Tax Tips When Deciding to Itemize or Take the Standard Deduction

The IRS published Tax Tip 2014-29 with 6 helpful tips for deciding whether to itemize deductions or to rely upon the standard deduction.  The IRS stated that a taxpayer should calculate the available deduction using both methods and then choose the deduction method that produces the greater deduction (thus lower amount of tax). 434 more words

Taxation