Save to Win Go to main content
FacebookTwitter

Deductions

  • Tax Deductions vs. Tax Credits

    couple looking at billsBoth tax deductions and credits help reduce your income tax liability but in different ways and for different reasons.

  • 5 Things You Didnt Know Were Tax Deductions

    woman happily writingYou might have tax deductions hiding in babysitter payments and those extra supplies you bought for the classroom last year.

  • Get Educated on the Student Loan Interest Deduction
    Many students and their parents find it necessary to take out student loans to help pay for the escalating costs of a college education. If you’re among them, you may be eligible for a full or partial deduction of up to $2,500 in interest paid on these loans, reports the Michigan Association of CPAs. The amount you may deduct depends on a number of factors, including your modified adjusted gross income (MAGI).
  • Tuition and Fees Deduction
    Those facing skyrocketing college tuition bills will want to learn as much as possible about how the tuition and fee deduction can lower their tax bills.

Go to main navigation