What is the traditional ira tax deduction for a non-working spouse?

Answer Contributions made to traditional IRAs for a non-working spouse are usually tax deductible. The taxable income of the working spouse must meet or exceed the amount of both spouse's IRA contribution... Read More »

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What Can Be Used as a Tax Deduction?

Thousands of taxpayers do not get the full tax refund that they are entitled to each year. Overlooked income tax deductions are among the biggest reasons for this. Get the refund you deserve by mak... Read More »

What Is the Dependent Deduction?

According to the Internal Revenue Service, a dependent must be your qualifying child or qualifying relative for you to claim a dependent deduction on your income tax return. If you are claimed as a... Read More »

What Counts As a Tax Deduction?

When filing your taxes, you must make many decisions. One of these decisions is choosing to take the standard deduction or to itemize your deductions. You must ask yourself, "Do my itemized deducti... Read More »

What is an income tax deduction?

The U.S. tax code says that you should not have to pay taxes on income that you have to spend on certain things. These expenses are called income tax deductions.ProcessWhen you do your taxes, you s... Read More »