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.
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Are Pastors Exempt from Taxes?
Pastors are not fully exempt from taxes, but they do enjoy certain unique tax benefits and exemptions under federal law.…
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Should There Be a Charitable Deduction?
Charitable DeductionCharitable deductions allow individuals and corporations to reduce their taxable income by the amount of their contributions to qualifying…
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Idaho Property Tax Reduction
The state of Idaho is waiting on data from local taxing districts before it can start calculating property tax savings.…
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Montana Personal Deductions and Credits
Montana is a taxpayer-friendly state with low sales and property taxes. However, its income tax rate is fairly high. To…
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Tax Consequences of Buying vs. Renting a Home
Renting has its benefits, including less hassle, the flexibility to move when your lease ends, and lower upfront costs. But…
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IRS Tax Forgiveness Program
An IRS tax forgiveness program can help taxpayers manage their back tax debt. These include installment agreements, offers in compromise,…
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Tuition and Fees Deduction 2024 - 2025
The tuition and fees deduction allowed taxpayers to subtract up to $4000 of education-related expenses from their federal taxes. This…
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Mortgage Interest Deduction
The mortgage interest deduction is a tax break that allows households to deduct a limited amount of their home mortgage…
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Foreign Earned Income Exclusion
The Foreign Earned Income Exclusion (FEIE) is designed to help taxpayers who live and work abroad avoid double taxation and…
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Rental Property Tax Deductions
The taxation of rental property can be a complicated process. It’s easy to miss out on valuable deductions with changing…
