Tag: deductions

“Healthy” Medical Deductions

March 12, 2013

Taxpayers who itemize their deductions may deduct medical expenses they paid exceeding 7.5 percent their adjusted gross income and this limitation increases to 10% of AGI in 2013.

Deduction Instruction: Deducting State Taxes

March 8, 2013

If you made a large purchase, such as an automobile, that incurred a substantial sales tax charge, you can choose your sales taxes paid OR the your state income taxes paid in the tax year as a deduction…