Medical expenses that are paid out of pocket — such as deductibles, clinic co-payments, prescription drugs, dental and vision care, and other healthcare costs not covered by insurance — are possible tax breaks.
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The prospect of filing your own taxes can sometimes seem a bit stressful. If you’re an inexperienced tax filer, you may not know quite what to expect. If you’re a seasoned filer, annual tax law changes may create new questions for you.
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In 2017, nearly 62 million people collected Social Security benefits, the federally administered old-age, retirement, and disability insurance program.
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It’s more important than ever to protect yourself from the criminals who would do anything to scam you out of your hard-earned money. One of the biggest areas in which these criminals try to con you is tax related, because they realize most law-abiding citizens respond when ethe Internal Revenue Service contacts them.
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Educators often reassure students that in their attempt to understand the subject matter at hand, there are no wrong questions. This principle applies equally to understanding taxes, and the following are some of the most important questions and answers for taxpayers to become familiar with in order to educate and empower themselves.
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American identity is created in part by the idea of the self-made man or woman, and perhaps nowhere else in the world is the entrepreneurial spirit so enthusiastically celebrated. But as anybody who’s owned his or her own business will attest, being an entrepreneur isn’t for the faint of heart.
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If you or someone you know are thinking about adopting a child, you’ll want to be aware of the 2018 adoption tax credit to offset the costs of the adoptive process.
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If you’re a college or university student (or have been in the past), there’s a good chance that you procured a student loan to cover your tuition costs, and in the interest of taking good care of your finances, both present and future, you’ll want to be aware of what your student loan means to your taxes.
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When it comes to individuals subject to U.S. taxation, there are two classes: tax residents and non-tax residents. Immigrants to the U.S. frequently wonder about the technicalities of their status and what taxes, if any, apply to them.
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“The tax code is 10 times the size of the Bible, with none of the good news,” once joked former U.S. Rep. Dave Camp, who pushed for extensive overhaul of the U.S. tax code during his time as chairman of the House Ways and Means Committee.
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