Tag Archives: federal income tax

Federal Income Tax Deductions for Home Ownership

As many of us prepare to file our federal income tax returns in the coming weeks, we should be looking for every deduction we can find and that we legally have coming to us.  For those who own a home, it can be the source of several different deductions.

Read on to learn some of the common federal income tax deductions related to home ownership.  Keep in mind that to receive these deductions you have to claim itemized deductions on Schedule A, as opposed to using your standard deductions. Continue reading

Tax Law Changes for 2012 Federal Income Tax Returns

The calendar has rolled into 2013, which means in the next few months you need to file your federal income tax.  Although this may not be the first time you have had to file, you may not remember all of the tax law changes that went into effect for the 2012 tax year.  Read on for a refresher on the most significant changes. Continue reading

American Taxpayer Relief Act and Federal Income Tax

Although it was not officially signed into law until the first few days of 2013, Congress and President Obama passed a measure, the American Taxpayer Relief Act of 2012, to avert the fiscal cliff and prevent the expiration of a large number of Bush-era tax cuts.

But now that the American Taxpayer Relief Act of 2012 has been passed into law and those Bush-era tax cuts are permanent, what does it mean to you?  Read on to learn more.

For more information about federal income taxes in general, please visit our web site’s “Tax Relief” page. Continue reading