TaxAudit Blog

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

 

Mortgage sign and keys

In regard to the personal home mortgage interest deduction on the Schedule A, the answer is yes, but only if certain criteria are met. Read More ›

 
stethoscope on top of stack of cash over an Insurance Claims statement

One way to offset the rising costs of health care is by claiming an itemized deduction for qualified medical expenses paid during the year on your income taxes. Read More ›

 
Private Mortgage Insurance Paperwork

The PMI deduction was not permanent. This expiration date was extended twice, eventually to 12/31/17, and any PMI paid after that date is not deductible. Read More ›

 
child playing on a playground

If you paid someone to care for your child so that you could work or look for work, you may be able to take the credit for child and dependent care expenses. Read More ›

 
clock on an audit report

The fact is that there is no standard answer to how long it will take for the IRS to finish up your audit and tell you what, if anything, you owe. Read More ›

 
Man looking at tax return with magnifying glass

Audit defense is a service offered through TaxAudit to support our members in the event that their state or federal tax return is selected for review or audit. Read More ›

 
File folders - one with the word Audit on the tab

Responding to an IRS audit is not the easiest thing to do. Surviving an audit is much easier with professional representation. Read More ›

 
Bitcoin Tax

The IRS declared that any cryptocurrency with an equivalent cash value is to be treated as property for tax purposes, and transactions are therefore taxable. Read More ›

 
house

This seems a simple question, and it has a simple answer, which is probably. First, all the usual requirements of deducting mortgage interest must be met. Read More ›

 
Woman wearing eyeglasses

Prescription eyeglasses for correcting your vision are deductible as a medical expense, but you may not be able to deduct them based on other factors. 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 Content may become out of date as tax laws change.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.