Deductions & Credits

5-Year vs 7-Year Property: MACRS Rules, Section 179, and Vehicles

IRS Penalties for Overstating Deductions: 20%, 40%, and 75%

Do You Need an Odometer Reading for Taxes: IRS Rules and Logs

Can You Choose Not to Depreciate an Asset? The Allowable Rule

Is Work-Study Taxable? Federal, FICA, and State Tax Rules

How to Deduct Charitable Donations Under IRS Publication 526

1098-T Box 5: Scholarships, Grants, and Tax Credits

What Is a Dependent Care FSA? Limits, Expenses, and Reimbursement

How Does Buying a House Affect Your Taxes: Mortgage, SALT, PMI

How to Claim a Furniture Donation Tax Deduction