Job Search Expenses are deductible under Itemized Deduction. But as with most itemized deduction, it is better to take the Standard Deduction if it is higher. → Continue
Category : Tax
Category : Tax
Short answer: Yes
Yes, your state unemployment insurance benefits (up to 26 weeks) and your extended benefits (up to an
additional 13 weeks) are taxable. You may choose to have 10% withheld for federal taxes by completing
Form W-4V. The State will provide you with a Form 1099-G prior to January 31st of each year, showing
the amount of taxable benefits paid in the prior year. → Continue
Earned Income Tax Credit is one of the few refundable tax credits you can get even if you do not owe any taxes.
The maximum credit for the 2010 Tax Year has been increased to $5,666.
| Earned Income Credit | ||
| Tax Year 2010 | ||
| No. of Children | Maximum credit | Earned Income/AGI Each Less Than |
| 0 | $457 | $13,460 ($18,470 if Married Filing Joint) |
| 1 | $3,050 | $35,535 ($40,545 if Married Filing Joint) |
| 2 | $5,036 | $40,363 ($45,373 if Married Filing Joint) |
| 3 or more | $5,666 | $43,352 ($48,362 if Married Filing Joint) |
| Taxpayers with investment income of more than $3,100 are not eligible for the credit. | ||
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Category : Tax
Things to bring
- Last year’s Federal and State tax returns (for new clients)
- Income/Wage statements:
- W-2’s
- 1099’s
- Alimony received or paid
- Commissions received statement
- Brokerage account year-end statements
- ESPP statements
- Stock options sale papers
- Rental property income and expenses
- Partnership, S Corp, trusts, or estate yearly statements
- Pension or retirement income statements
- Social security income yearly statement
- Unemployment income yearly statement
- State income tax refund statement
- Lottery winnings (and lottery losses, if you have winnings)
- Car, motor home, and boat registration paperwork
- Donation receipts
- IRA contributions
- Child care expenses and provider information
- Medical expenses
- State taxes paid
- Unreimbursed employment-related expenses
- Job-related educational expenses
- Casualty or theft losses
- Foreign taxes paid
Homeowners
- Mortgage interest year-end statement
- Home equity year-end statement
- Property tax information
- If you sold your home, purchase and home improvement information
- Home Loan
Businesses
- Income and expense reports
- Mileage logs for autos
- Receipts for business assets purchased
Students
- Tuition and education fees
- Student loan information
- Grants and scholarship information
Category : Tax
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