Tax Tips


Helpful Tips to Know About Gambling Winnings and Losses
 

Helpful Tips to Know About Gambling Winnings and Losses

Posted: August 4, 2017
Taxpayers must report all gambling winnings as income. They must be able to itemize deductions to claim any gambling losses on their tax return. Taxpayers who gamble may find these tax tips helpful.

Income Taxes and Selling a Home
 

Income Taxes and Selling a Home

Posted: July 31, 2017
Homeowners may qualify to exclude from their income all or part of any gain from the sale of their main home. Here are tips to keep in mind when selling a home.

Making the Most out of Miscellaneous Deductions
 

Making the Most out of Miscellaneous Deductions

Posted: July 21, 2017
Miscellaneous deductions are tax breaks that generally don’t fit into a particular tax category. They can help reduce taxable income and the amount of taxes owed. Here are several tips from the IRS about miscellaneous deductions.



Tips to Know for Deducting Losses from a Disaster
 

Tips to Know for Deducting Losses from a Disaster

Posted: July 5, 2017
If a taxpayer suffers damage to their home or personal property, they may be able to deduct the loss they incur on their federal income tax return. If their area receives a federal disaster designation, they may be able to claim the loss sooner.