TaxAudit Blog

Keeping you up-to-date on tax issues that may affect your life.

 

Couple receiving keys from salesman to their new car

Sales tax on a car or automobile purchase might be deductible. It depends on the taxpayer’s circumstances. Generally, the following conditions must all be met. Read More ›

 
Estate Tax Return

The IRS generally has three years from the date the returns were filed to audit. However, in certain circumstances a return can be audited within six years. Read More ›

 
Yoga Class

Just like there are hundreds of poses in yoga, the tax law is not so simple, and there are subtle variations that determine whether the answer is yes or no. Read More ›

 
Health Insurance

Yes, under certain conditions, health insurance premiums are tax-deductible. Generally, the health insurance premiums can be deducted in one of two ways. Read More ›

 
Football Play

On the IRS’s website is a list of Audit Technique Guides (or ATGs) that IRS examiners use as a roadmap when auditing various types of income tax returns. Read More ›

 
small child on swing

Simply stated, child support is not deductible. However, it is worth noting that identifying child support payments may not be so simple. Read More ›

 
Closing Costs

Real estate closing costs can be pesky things. And since you are paying for them, can you at least deduct them from your taxes? Read More ›

 
Tax Deduction written on a sticky-note

Tax deductions and credits serve the same purpose − to reduce the amount of a taxpayer's tax owed. The way that each serves this purpose is different. Read More ›

 
speedometer

In 2019 self-employed taxpayers can deduct their car expenses at the standard rate of 54.5 cents per mile driven for business. However, most employees cannot. Read More ›

 
Tax Debt Relief

Millions of individuals and business owners in America currently have unpaid IRS tax liabilities. Here are a few items to consider for tax debt relief options. Read More ›

 
This blog does not provide legal, financial, accounting, or tax advice. The content on this blog is “as is” and carries no warranties. TaxAudit does not warrant or guarantee the accuracy, reliability, and completeness of the content of this blog. Content may become out of date as tax laws change. TaxAudit may, but has no obligation to monitor or respond to comments.