Hello! Aside from the federal side, overtime is exempt from being taxed in Alabama for the first half of the year (up to June 30th). FTUSA didn't prompt me in any way regarding my Alabama state taxes regarding this. How can I make sure I'm not paying state tax on the overtime I earned in the first half of the year? Thank…
On Dec 29th the IRS updated the standard mileage rates for 2026. Rates apply to fully electric and hybrid automobiles, as well as gasoline and diesel-powered vehicles. 72.5 cents per mile driven for business use, up 2.5 cents from 2025. 20.5 cents per mile driven for medical purposes, down a half cent from 2025. 20.5 cents…
We want to take advantage of the additional $6,000 deduction (per 65+ person, married filing jointly) in 2025, and maximize the withdrawal within the 12% tax bracket. To calculate how much I can withdraw within the 12% bracket it seems to me that I will add: $94,300 (the maximum adjusted income within the 12% bracket)…
Hey Folks, Main Question: How to you use FreeTaxUSA for NJ State Tax Filing? Specifically when dealing with LLC income and expenses Context: I'm using FreeTaxUSA to file Federal and State (NJ) taxes I've used many times before The difference this time is that I'm also doing my Single Member LLC taxes Federal taxes have…
Are premiums paid for hospital indemnity & critical illness insurance plans tax deductible? If so, where to report the payments on the tax return?
I needed to have my HVAC repaired (not replaced) and have mold removed last year. I've looked up and down the section for deductions and I'm not sure where these can be entered. As far as I know these should be tax deductible, but maybe I am mistaken?
Hi, We’ve recently bought a house in CA and are thinking of paying property tax before year-end and deduct it from our CA taxes. We won’t have enough to itemize Federal taxes, but the amount will be above CA standard deduction. Two questions: 1. Can we still itemize CA deductions even though we’re taking standard Federal…
How do I deduct the health care & dental premiums that I pay in retirement utilizing the HELPS retiree Improvement Act. I retired as federal LEO in August. Thank you
I was wondering, if my rental property was vacant for some months of the year, can I deduct the expenses related to the rental property, such as property tax and maintenance, for the entire year or only for the duration that it was rented?
Can our son deduct the mortgage interest on his house that my husband and I are co-signers on. The deed is in his name only.
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