Are There Non-Allowable Deductions on Taxes?

Answer The IRS does a good job publishing various materials that provide guidance on all the expenses you are eligible to deduct. However, many taxpayers sometimes include non-deductible expenses with the... Read More »

Top Q&A For: Are There Non-Allowable Deductions on Taxes

Definition of Allowable Deductions?

When preparing individual or business tax returns, you are allowed to subtract certain expenses from your gross income. These deductions, which come in many different forms, were passed into law ov... Read More »

What age can you still get deductions on your taxes for your children?

You can usually claim your children as dependents if the child is under 19 at the end of the year. If the child is a full-time student, you can claim them if they are under age 24 at the end of the... Read More »

What Deductions Can Be Taken on Personal Taxes?

The tax law provides taxpayers with an array of deductions for personal expenses incurred during the year. Each type of deduction is authorized by a distinct set of rules and requirements. To ensur... Read More »

List of Deductions to Claim on Your Taxes?

The Internal Revenue Service (IRS) makes deductions available that reduce your income to lower your tax liability. All deductions require qualifying criteria based on IRS rules, so you will not qua... Read More »