A reliable website to refer to when researching tax deductions, including types and amounts to be deducted, is the IRS website at irs.gov. This website includes specific details pertaining to all deductions accepted by individuals and businesses.Continue Reading
A tax deduction is a specified amount that is deducted from income before calculating the amount of tax owed. Deductions can include medical and dental expenses, interest expenses, charitable contributions, business use of a home and/or car, travel expenses, educational expenses and disaster losses.
The IRS is the agency responsible for the collection of taxes owed by the citizens of the United States.Learn more about Taxes