Can I deduct PMI on taxes?

Answer Congress extended the law through 2010 allowing taxpayers to deduct private mortgage insurance (PMI), but only for homes bought or refinanced since Jan. 1, 2007. The deduction is only available for... Read More »

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Can I deduct any of my FSA on taxes?

A flexible spending account (FSA) reimburses out-of-pocket medical expenses and contributions are made from your pre-tax wages. According to the FSAFEDS Program, you may not claim on your tax retur... Read More »

How to Deduct on Taxes If I'm Frauded?

If you have been the victim of fraud, theft, robbery, or other crime, you may be able to deduct some of your losses against your income. In fact, after the Bernie Madoff scandal of late 2008, the I... Read More »

Can you deduct gas on your taxes?

On One Hand: Not Regular CommutesIf you just drive from your home to your job and back, you cannot deduct your gas costs. However, if you work multiple jobs, you can deduct the cost of gas used dri... Read More »

Can I deduct automobile taxes?

"The American Recovery and Reinvestment Act of 2009 provides a deduction for state and local sales and excise taxes paid on the purchase of qualified new vehicles through 2009," according to irs.go... Read More »