IRS Instructions for Itemized Deductions?

Answer Congress's intent behind the Internal Revenue Code is to tax net profits, not gross income. Congress has also made allowances in the tax code for nondiscretionary income, such as that portion which... Read More »

Top Q&A For: IRS Instructions for Itemized Deductions

How to Calculate Itemized Deductions?

When filing your income taxes each year, you may take the standard deduction or an itemized deduction amount on your Form 1040. Depending in your expenses, it may be more beneficial to calculate t... Read More »

What Are Itemized Payroll Deductions?

Deductions from paychecks include federal, state and local income taxes, FICA payroll taxes and amounts that employers withhold to cover the employee's portion of a health insurance premium, contri... Read More »

Itemized-Deductions Checklist?

Taxes can seem intimidating. It does not seem to matter that we fill out tax forms every year. With all the changes to the tax laws, there's a little novice in each of us. Saving our records and r... Read More »

Federal Law on Itemized Paycheck Deductions?

Federal payroll deductions are monies taken out of your paycheck every time you're paid by your employer. Your employer forwards this money to the federal government.