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What if I got some benefit from my donation, like a dinner, or a sports event?
When you donate money to a charity or other nonprofit organization, you usually write a check and don’t receive anything in return. When you’re ready to do your taxes, you add up the checks you...
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Can I deduct the money I spend to equip my classroom, or cover travel and training?
It’s outrageous, but if you’re a teacher, your school may not pay for many of the supplies, even books, you need in class. And your employer may not pay for travel to conventions, training...
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Employees who are given car allowances by their employers are treated somewhat differently than employees who are reimbursed for their automobile expenses. Explore and understand those differences and how to properly report expenses on your return.
Reimbursement Plans
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Many employees incur expenses during the course of performing their jobs. These expenses may or may not be reimbursed by your employer. Can you deduct these expenses on your tax return? Maybe. It depends on 1) how your employer treated any reimbursements they made to you and...
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Figure out the best way to deduct auto expenses.
If you use your car for work either in your own business or as an employee of a company, you can deduct some of your car-related expenses. Exactly what you can deduct depends on how you calculate your deduction. The IRS...
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It feels great to get a raise or bonus; but, you still have to pay the tax man. Here's how to do it without spoiling all the fun.
Good news: Your employer likes the work you are doing and your company had a good year (or they were just feeling generous). Whatever the case...
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