Tax Deductions

2011 Mileage Rate IRS Standard Deduction Amount Set

Update: Information for the IRS mileage rate 2016 is here. This article is about the 2011 mileage rates published by the IRS. When deducting eligible automobile expenses, taxpayers have the option of deducting actual expenses or using the optional standard mileage rates to deduct automotive expenses. Because, the records required in order to deduct the actual …

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End Of Year Tax Tips – Save Money On Taxes By Donating Clothing and More

As the end of the year races toward us, the opportunities to find and take advantage of tax deductions and loopholes to save money on income taxes are growing scarce. Fortunately, there are still plenty of tax saving strategies that you can implement even with just a few weeks to go until the end of …

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Last Minute Tax Tip – Make Your 2008 IRA Contribution Now

Ok, everyone and their dog tells people to make their 2008 IRA contribution now in order to reduce their 2008 income taxes.  But, there is good reason for that. If you qualify for a deductible contribution to a traditional IRA either by meeting the income limits, or because you don’t have a retirement plan provided …

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