Tax Deductions
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Tax Deductions Guides
How to Determine Donation Deductions
The Short Story:
Tom Herman recommends using tax-preparation software to figure out how to value donations of used clothing. Used clothing has to be in fairly good condition, and the fair market price is typically "far less" than the original price.
Tax Breaks for Higher Education - Education Expenses Can Lower Your Taxes
Sunday May 10, 2009
It's finally time to start paying all those college-related expenses you've been saving for all these years. Be sure to take maximum advantage of the various tax breaks available to you for education expenses - they're free money too!
Free File: The Best Free Sites for Filing Your Taxes
Friday Feb 6, 2009
(Originally posted 2/28/2008). A few weeks ago we promised to review all of the free federal tax software that the Internal Revenue Service and 19 tax companies provide taxpayers who make $54,000 or less a year ($56,000 in 2008). True to our word, three FiLifers who qualified for the Free File service gathered together their tax ...
What Happens If You Realize That Your Taxes Were Incorrectly Filed?
Thursday Apr 16, 2009
So, what if you just filed this year’s taxes and realize that you’ve made a mistake? And just to be safe you decide to go through past years’ taxes and realize you’ve made mistakes on some of them as well.
Taxes and Divorce
Tuesday Apr 7, 2009
Tax expert S. Kay Bell offers advice on how to handle your tax life when dealing with a divorce. These tips come straight from her new book The Truth About Paying Fewer Taxes. Bell also runs her own blog Don't Mess with Taxes.
Should You Use a Tax-Prep Service?
The level of tax-prep assistance you need will depend on the sophistication of your finances and investment returns.
Grilling Guide: Questions to Ask Tax-Prep Service Providers
Questions to ask tax prep service providers.
Choosing a Tax-Prep Service
Which tax-prep service you choose will depend on whether you want a person helping you one-on-one or easy-to-use software.
Eight little-known tax deductions that can lower your bill
Monday Apr 7, 2008
Don't miss out on possible tax deductions. This MarketWatch article points out eight tax deductions that we often forget.
How to Determine Donation Deductions
Sunday Jan 4, 2009
Tom Herman recommends using tax-preparation software to figure out how to value donations of used clothing. Used clothing has to be in fairly good condition, and the fair market price is typically "far less" than the original price.
Deducting Sales Tax
Friday Dec 21, 2007
Confused about whether to take the standard deduction or itemize your deductions? WSJ columnist Tom Herman explains your options, and why this is important for citizens of states with no state income tax.





