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http://turbotax.intuit.com What are tax deductions? Here is some important information from TurboTax to help you understand ...
federal income tax deductions this year. See the tax deductions list and learn how you may save more by itemizing your medical and common expenses.
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Hi, I'm Jeremy from TurboTax, with important news for tax payers. Tax deductions reduce the amount of tax you owe by allowing you to subtract certain expenses from your income. By effectively lowering your taxable income, deductions reduce the amount of tax you owe. Typically, you must itemize your deductions to receive the full benefit. The alternative is to take the standard deduction offered by the IRS. If your total deductible expenses for the year are more than the standard deduction amount then you will save more by itemizing. There are certain types of deductions you can take regardless of whether you are eligible to itemize or not. These expenses are reported separately from standard and itemized deductions. They include college tuition payments for yourself and other dependents, alimony payments to a former spouse and even your moving expenses if you relocate for a new job. For those of you who can itemize deductions, there are many expenses you an include that are not available to those who claim a standard deduction. When it's time for you to prepare your tax return, keep in mind that the government allows you to deduct some common expenses such as mortgage interests and property taxes for your home, donations made to charity and medical and dental expenses. There are others that are not quite as common and often overlooked like the cost of looking for work or traveling to an interview when non-employed. The more expenses you have that are eligible for deduction, the smaller your tax bill will be and if you have amounts withheld from your check for income taxes, they can increase the amount of your refund check. For more information on this and other tax topics, please visit TurboTax.com.
Hola, soy Jeremy de TurboTax, con importantes novedades para los contribuyentes. Las deducciones fiscales reducen la cantidad de impuestos que debes, ya que te permiten restar ciertos gastos de tus ingresos. Al reducir eficazmente el ingreso gravable, las deducciones disminuyen la cantidad de impuestos que debes. Por lo general, debes detallar tus deducciones para recibir el beneficio completo. La alternativa es tomar la deducción estándar ofrecida por el IRS. Si tus gastos totales deducibles para el año son mayores que el monto de la deducción estándar, entonces te ahorrarás más al detallar. Hay ciertos tipos de deducciones que puedes tomar sin tener en cuenta si eres elegible para detallar o no. Estos gastos se presentan por separado de las deducciones estándar y detalladas. Se incluyen los pagos de matrícula universitaria para ti y otras personas dependientes a tu cargo, pagos de pensión alimenticia a tu ex cónyuge e incluso los gastos de una mudanza, si te mudas debido a un nuevo puesto de trabajo. Para aquellos de ustedes que pueden detallar las deducciones, hay muchos gastos que pueden incluir que no están disponibles para aquellos que reclaman una deducción estándar. Cuando llegue el momento de que prepares tu declaración de impuestos, ten en cuenta de que el gobierno te permite deducir algunos gastos comunes tales como intereses hipotecarios e impuestos a la propiedad para tu hogar, donaciones hechas a la caridad y gastos médicos y dentales. Hay otros que no son tan comunes y a menudo se pasan por alto, como el costo de buscar trabajo o de viajar a una entrevista cuando no estás empleado. Cuantos más gastos tengas que sean elegibles para la deducción, menor será tu adeudo de impuestos. Y si tienes montos retenidos de tu cheque por impuestos sobre la renta, puedes aumentar la cantidad de tu cheque de reembolso. Para obtener más información sobre éste y otros temas tributarios, por favor visita TurboTax.com.