Gambling is something that many people enjoy doing either on a regular basis or now and again. Of course, gambling is a much more enjoyable pastime when you are winning rather than losing! However, if you are one of the lucky ones on a winning streak you need to bear in mind that you’re probably going to have to give a slice of your good luck to the IRS, as it will be classed as taxable income.
In many cases, if you have been lucky enough to win a big jackpot the payer will actually deduct taxes … Read more at 2009 Tax.
You need to know what deductions may be possible even when you hire someone else to do your taxes. A quick look over the tax codes on the IRS.gov website will help you determine all of the deductions you need to be considering.
Top Deductions that are Missed
1. Expenses that are NOT reimbursable by the company. Any expenses that are incurred during the tax year and that are considered ordinary and necessary for your industry can be used as a deduction on your taxes (at least a portion).
a. Depreciation on work computers
b. Dues paid to professional … Read more at 2009 Tax.
Save Yourself Money by Taking Advantage of TaxACT
TaxACT is a great tax service that you should take advantage of. It does not require any download or purchase, simply sign in and answer some questions to have your taxes done for you. Not only will this save you the $30-$100 most tax companies will charge you, but TaxACT also uses the best up to date programs to ensure that you will get the largest refund possible.
Saving yourself the unnecessary fees other companies charged would not be worth the investment if the service you receive is not the … Read more at 2009 Tax.