Tracy Hughes's (thughes7) Blog

What to deduct, when, how?  Not everything that you think is deductible is, and here is a list of the more commonly used non-deductible things that people file: 1.  Charitable Contributions: You can only claim cas contributions up to 50% of your adjusted gross income. 2.  Spouse or Child espenses...

No one wants to be audited by the IRS, and while some audits are at random, there are also red flags that tip off the IRS to investigate you further.  Here are some helpful hints to avoid an audit: Don't overestimate your donated dollars!  When claiming donated materials (clothes, cars, etc.) put...

Tax season rolls around and most people have their w-2s and forms ready by the beginning of February, while some choose to wait it out until April 14th to file.  So what are the benefits of filing earlier versus waiting longer to send out your return. Early: Faster Refunds!  This one should count...

Single?  Married filing jointly?  Married filing separately?  Head of Household?  Not sure what your status is?  These tips will help you in how you file... 1.  Your marital status on the LAST day of the year (December 31) determines your marital status for the entire year. 2.  If you are eligibl...