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Maximizing Charity and Volunteerism Tax Deductions
- By Budgeting Help
- Published 07/16/2007
- Taxes
- Unrated
Many people are aware that if they make charitable contributions or donations, they may be eligible for tax deductions. They also think that there is no tax benefit if they donate time instead of money or other material goods.
Tax Deductions by Profession
- By Budgeting Help
- Published 07/16/2007
- Taxes
- Unrated
Depending on your calling in life (or at least your current job), there may be tax deductions that you only qualify for as a professional. These career-specific deductions are in addition to tax deductions, credits and exemptions you would normally qualify for as an employee, self-employed professional, of business owner.
Loan, Credit and Interest Deductions
- By Budgeting Help
- Published 07/16/2007
- Taxes
- Unrated
Because we live in a credit-based economy, it makes sense that there are tax deductions for interest paid on different loans and credit lines. However, many taxpayers are unaware of these tax savings options. They end up losing hard-earned income to interest from loans or using available credit, and then lose more to higher tax payments because they failed to make accrued interest tax deductions.
Your Health and Future Can Lower your Taxes (Part II)
- By Budgeting Help
- Published 07/16/2007
- Taxes
- Unrated
Not only can medical and health-related expense spell out savings on your tax return (see “Part I”), so can retirement and long-term savings planning. You may be able to deduct, claim tax credits, or shield pre-tax income through contributions to retirement and long-term savings plans on your taxes regardless of whether you are traditionally-employed, self-employed, or a business owner.
Your Health and Future Can Lower your Taxes (Part I)
- By Budgeting Help
- Published 07/16/2007
- Taxes
- Unrated
Did you know that making a commitment to your health and future can reap tax benefits today? There are many tax deductions and credits that can be applied to your tax returns related to healthcare costs you incur, or funds you save from spending today to support you in your retirement. Just a few of these deductions are described below.
Other Tax Savings for Small Businesses
- By Budgeting Help
- Published 07/16/2007
- Taxes
- Unrated
By now, you have probably already maximized your small business deductions by following some of the tax tips from budgeting-help.com (please see “Tax Savings for Small Business and the Self-Employed”).
Equipment, Expenses, and Professionals for Hire: More Small Business Tax Savings
- By Budgeting Help
- Published 07/9/2007
- Taxes
- Unrated
In addition to the basic business tax deductions like office expenses, car or travel, and meals and entertainment (see the budgeting-help.com article, “Tax Savings for Small Business and the Self-Employed”), there are even more tax deductions for small businesses. These may be lesser known, or used by fewer businesses, depending on the business model.
Tax Savings for Small Business and the Self-Employed
- By Budgeting Help
- Published 07/9/2007
- Taxes
- Unrated
Regardless of your income level or employment status, one thing all American consumers can count on is taxes. However, if you own a business, have a home-based microbusiness, or are self-employed, there are numerous tax deductions and you can access that many traditionally-employed individuals cannot, thereby yielding greater tax savings.
How to Save for (Any) Day
- By Budgeting Help
- Published 06/19/2007
- Taxes , Retirement , Investments , Credit , Budgeting
- Unrated
Although it sounds funny, considering current state of personal finances in US, many consumers do not know what steps to take to start saving
Savings Goals
- By Budgeting Help
- Published 06/19/2007
- Taxes , Retirement , Investments , Credit , Budgeting
- Unrated
Now that you know your different options for savings accounts or vehicles (see "Types of Savings: Parts I-V"), you should set goals to meet your various savings needs. You can then select specific accounts or vehicles to save your money and obtain returns. Overall, you want to start with your most short-term savings necessities first, and then save for retirement.