See how tax burdens vary across different U.S. states and discover why some are paying more than others. Get a comprehensive look at who pays what with this detailed guide.
The Internal Revenue Service has authorized a method to avoid the SALT cap established by the Tax Cuts and Jobs Act of 2017. To get around the SALT cap, taxpayers in high-tax jurisdictions might make charitable contributions to state-level funds in exchange for a state tax credit. The IRS has ruled that taxpayers can take a federal tax deduction for charitable donations if they also receive a state tax credit of no more than 15% of the total amount of the contribution.
Find out how to use Form 1310 to file a claim for a dead taxpayer's refund. Understand the qualifying criteria and the filing process for Form 1310 as well.
This post introduces the home office tax deduction eligibility and its other aspects