Can i deduct the cost of my uniform from income taxes?

Answer Work uniforms are tax-deductible. However, to deduct a work uniform from your income taxes, you must meet a two-part test. First, the employer must require the work uniform as part of employment. S... Read More »

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Can you deduct garnishments from your income taxes?

No. Tax law regards all income earned by you as taxable even if your employer withholds any amount to pay outstanding debts. You must pay income tax on the full amount you would have received prior... Read More »

Can I deduct the cost of re-roofing my home from my federal income tax?

You can receive tax credits or deductions for re-roofing a home under certain circumstances, including upgrading your roof with approved Energy Star materials, doing maintenance on rental income pr... Read More »

Can I Deduct a Divorce Attorney's Fees & CPA Fees From My Income Taxes?

Divorces are not only emotionally draining but can also be expensive after paying your attorneys and CPAs the fees you owe. The IRS will not, however, allow you to claim a deduction for every fee y... Read More »

How to Deduct Stock Loss on Income Taxes?

When you buy a stock, you hope that the value will go up and you will make money on that stock (also known as a security). When you make money on a stock or other asset, you have a capital gain, an... Read More »