TaxAudit Blog

Tag: itemized deduction

Second home on a cobblestone street

Whether you use your second home for personal or business purposes, the interest you pay on the mortgage may very well be deductible on your tax return.

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Medicare Premiums

There is a very good chance that you can deduct your Medicare Premiums that you paid on your taxes. As always, there are different conditions that must be met.

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Dentist with patient examining x-rays

Dental expenses (if qualifying) can be included on Schedule A, Itemized Deductions - Medical and Dental Expenses, subject to a 7.5% Adjusted Gross Income.

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Piggy bank and stethoscope on blue background

Medical expenses are deductible, but whether or not you can claim this deduction depends entirely on the amount you spent and the amount you earned.

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Person getting mail out of mailbox

The first step in preparing for that audit is reading the letter carefully. Audits rarely examine everything on the return, but only ask about specific items.

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Hands surrounding a pile of money

Under current federal law, union dues are generally not deductible. However, there are a few exceptions, and if your union dues meet one of them you are in luck

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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.

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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.

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