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Costs for Installing Medically-Related Home Improvements Have Tax Benefits

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Aging Population Home Improvements for Medical Care or Treatment Improvements That Increase the Home’s Value Improvements That Do Not Increase the Home’s Value Medical AGI LimitationsAccording to the Social Security Administration, 10,000 baby boomers a day are reaching the age of 65. As of 2018, 16%...

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Tax Deductions Without Itemizing

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Charitable Contributions Educator Expenses Performing Artist Expenses State and Local Government Officials’ Expenses Health Savings Account Contributions Moving Expenses for Members of the Armed Forces Student Loan Interest Deduction Tuition and Fees Deduction Deduction for Early Withdrawal of Savings Deductible Part of Self-employment Tax Self-employed Health...

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Easily Check the Status of Your Refund

Article Highlights:Your Federal Tax Refund Status Can Be Checked Online Delay When Claiming Earned Income Tax Credit or Additional Child Tax Credit “Where’s My Refund?” Refunds Are Generally Issued Within 21 Days of E-Filing Paper Filed Return Will Take Longer Information Needed to Check Refund Status Direct Deposit Provides the Quickest Refunds When to Call the IRSIf...

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Writing Off Your Business Start-Up Expenses

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$5,000 First-year Start-up and Organizational Expense Write-off Timely Filing Requirements Qualifying Start-up Expenses Trade or Business Purchase Qualifying Organizational Expenses Expense Write-off Limitations How to Make the Election Other ConsiderationsSadly, as a result of the COVID pandemic, many small firms have gone out of business. Fortunately, with the help of vaccines, new businesses will...

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