Tax Deductions

HELOC or a home equity line of credit , is a line of credit allowed by the lender against your home. This ( heloc mortgage loan ) is a revolving credit line . You can use it  for large expenses or to payback  higher-interest rate debts such…
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Do you know if you are eligible for tax deduction related to mortgage interest you paid? Seven answers to most important questions reltaed to tax deduction of home loan interest
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Section 221 of Internal Revenue Code deals with tax deduction on student loan interest to a taxpayer if certain conditions set therein are satisfied. If you made federal student loan payments in 2018, you may be eligible to deduct a…
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The  very common question  "Is medical insurance  deductible? " has no definite answer. In most cases, answer to the question is YES, but there are situation in which you can't claim health insurance tax deduction easily.  For easy…
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The Internal Revenue Service (IRS) has issued the 2019 standard mileage reimbursement rates. Beginning on January 1, 2019, the standard mileage rates for the use of a car, van, pickup or panel truck will be: 58 cents per mile for…
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