Search results
May 15, 2024 · Health Insurance. Call (855) 596-3655 to speak with a licensed insurance agent and get quotes for car, home, or renters insurance. A high-deductible health plan makes you pay for more of your health care costs before your coverage kicks in. These plans can be good if you don't need much medical care.
4 days ago · Your donation is tax-deductible. You can also donate services such as transportation. Millions of shoeboxes are collected at thousands of drop-off sites, and we have to move those shoeboxes to our processing centers to be sorted and shipped. The list below includes more suggestions for items and services you can donate.
3 days ago · Generally, the amount that is equal to the premiums that you’ve paid is considered tax-free. This is known as the policy basis. Any accrued interest beyond the basis amount is considered taxable income. Payments made toward a life insurance policy are not tax-deductible (except for business owners paying into employee life insurance plans).
May 15, 2024 · In order to deduct medical expenses, including health insurance, from your taxes, your total medical costs must exceed 7.5% of your adjusted gross income (AGI) — and you can only deduct the amount above that 7.5%. For example, if your AGI is $100,000 and your medical expenses total $9,500, you'd be able to deduct $2,000 of medical expenses.
2 days ago · This will dramatically reduce the number of itemized filers, which will reduce the incentive to make charitable donations (but you still should, because you’re a good person and stuff). 2023 standard deductions are: $13,850 for single filers. $13,850 for married, filing separately. $27,700 for married filing jointly.
May 7, 2024 · Education paid for by your employer cannot be taken as a write-off. Only self-paid education expenses are potentially tax deductible. Your employer can pay up to $5,250 per year for you in professional development without it counting as income. This opportunity, however, must be formally offered to all employees.
May 6, 2024 · Save when you sell. Under current law, if you have owned and lived in the home for at least two of the five years leading up to the sale, The first $250,000 of profit on the sale of a principal residence is tax-free for single filers. The first $500,000 of profit is tax-free for married couples who file joint returns.
