alimony payments, student loan interest, and teaching expenses. Itemizing is typically more beneficial if your total deductible expenses exceed the standard deduction. With a $1,000 tax credit ...
Did you ever wonder if alimony is taxable for the ex-wife. This is because the alimony is paid by husband after paying all the due income tax. Experts say, various court judgements said, yes ex-wife ...
Navigating the complexities of tax season can be daunting, especially when deciding between a tax deduction or a tax credit.
You may qualify for tax credits for caring for a child or dependent or investing in clean energy for your home.
Learn how to lower your tax liability with these 5 effective strategies: optimize withholding, maximize your HSA, avoid the ...
Alimony (if divorce decree is 2018 or earlier) If you are self-employed or own a small business, you may be eligible for other tax deductions including home office deductions and reimbursement for ...
If phantom income is not properly analyzed by counsel and the court in a matrimonial case, the result perforce may be ...
The Social Security Administration (SSA) provides critical financial support to millions of Americans through programs like ...
The tax season is officially open. Monday, Jan. 27 is the first day you can file your returns. They may not be due until April 15, but getting a head start will get you a quicker refund. Or give you ...
New Jersey residents will have a new way to file their federal tax returns this year. The program, called IRS Direct File, was tested in 12 states during the 2023 tax filing season. It’s been added as ...
Imputed earnings refer to income that is assigned to an individual by a government agency or a court, even if they do not ...
On the other hand, if you are paying alimony under such an agreement, you cannot deduct the payments from your income tax. However, state tax treatment of alimony may differ. Child support ...