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tax deductions

Road ending for auto deduction

November 8, 2009 by Kay Bell with 115 views

Lost in all the hoopla about the just-extended first-time home buyer tax credit is the fact that the clock is ticking down on another stimulus-created tax break. In addition to tweaking the home buyer credit, the American Recovery and Reinvestment Act included a deduction for state and local sales and excise taxes paid when you buy a... [read more]

11 goofy, but legal, tax deductions

March 8, 2009 by Kay Bell with 189 views

Every year as I work on our tax return, the hubby offers words of encouragement. Well, it's not exactly encouragement; more like an insistent plea.And it's really just one word, repeated several times: Deduct!I long ago gave up my automatic response of explaining why credits are better that deductions. He knows by now that deductions... [read more]

Yet Another Questionable New Tax Provision

August 15, 2008 by James Maule with 68 views

Two more comments have arrived in response to Why This New Tax Provision. The first is from Wayne Brasch. The second will be shared in next Monday's posting. Wayne shares my distaste for the complexity generated by converting a small portion of what would be an itemized deduction into an above-the-line deduction. More on that issue will... [read more]

DEDUCTIONS: MAULED AGAIN

March 13, 2008 by Joe Kristan with 95 views

The prolific Dr. Maule has produced the third edition of his BNA Tax Management Portfolio "Deductions: Overview and Conceptual Aspects." Congratulations, Dr. Maule! Comments (0) Comments on this Entry:Link to original post [read more]

Are Girl Scout cookies deductible? Maybe

January 27, 2008 by Kay Bell with 316 views

It's one of my favorite times of the year: Thin Mint Season! I admit it. I have no willpower when it comes to Thin Mints and any kind of ice cream. I could eat a whole box of these wonderful Girl Scout cookies (ideally crumbled atop a big bowl of creamy vanilla ice cream) in one sitting. So the hubby is the keeper of the GS cookies,... [read more]

Extension of tax breaks on election-year agenda

January 14, 2008 by Kay Bell with 59 views

Representatives return to Washington this week, with the House scheduled to reconvene on Tuesday. A week later, Senators will be back on the Hill. Since the second session of the 110th Congress is during an election year, expect lots of "district work period" breaks. And both Congressional bodies hope to be home for good in September... [read more]

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