Can you deduct the estate tax return preparation fee on an individual return?

Answer A person who has paid tax preparation fees can deduct the expense the year after it was paid. This expense is only deductible it tax payer itemized on Schedule A with Form 1040.References:IRS: Inst... Read More »

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Are legal fees for the preparation of an estate tax return deductible?

Any fees related to the preparation of the tax return for an estate is deductible. Deduct the total amount of fees on Internal Revenue Service Form 1041, line 14. These fees include amounts paid to... Read More »

Tax Return Preparation Checklist?

Every year, taxpayers go through receipts, tax information, checkbook registers, W-2 and Form 1099 information as they get ready to work on tax returns for the past year or take all their informati... Read More »

Can you deduct a taxidermy head on your income tax return?

A taxidermy head constitutes a hobby expense, according to the IRS. A hobby expense is a miscellaneous itemized deduction, which has an adjusted gross income limit of 2 percent. Hobby expenses are ... Read More »

How to Deduct Federal Taxes on a State Return?

Federal taxes due to the government can be deducted from state taxable income in some states. These taxes are filed in April every year except for no-income-tax states, such as Alaska and Florida.... Read More »