Denise HueFeb 28, 20201 min2% Itemized Deductions Suspended (2019 Update)From 2018 through 2025, all miscellaneous itemized deductions that were subject to the 2% floor are now suspended. In addition, an indivi...
Denise HueFeb 28, 20201 minCasualty Loss - Itemized Deductions (2019 Update)Under the Tax Cuts and Jobs Act (TCJA), losses for individuals are now only deductible to the extent they are attributable to a federally...
Denise HueFeb 28, 20201 minCharitable Contributions – Tips for Preserving Your DeductionChoosing the right organization is important. For your donation to be deductible, it must go to a nonprofit group that is approved by the...
Denise HueFeb 28, 20202 minInterest Expense - Standard Deductions (2019 Update)Mortgage Interest You generally may deduct interest on home acquisition debt that is secured by a first or second home. This includes int...
Denise HueFeb 28, 20201 minState and Local Taxes - Itemized Deductions (2019 Update)Your deduction of state and local income, sales, and property taxes is limited to a combined total deduction of $10,000 ($5,000 if marrie...
Denise HueFeb 28, 20201 minItemized Deductions - Medical Expenses (2019 Update)This is a tax break that can be hard to benefit from. Only medical expenses beyond 7.5% of your adjusted gross income (AGI) is deductible...