Other Personal Deductions and Tax Breaks

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Other Personal Deductions and Tax Breaks

Can You Deduct Your Expenses From a Hobby?
Hobby expenses are sometimes deductible but the rules are different from business deductions.
Tax Free Investment Income
Learn about the tax advantages of buying municipal and other government bonds.
Lending Money to Family Members
Make sure you follow these simple rules when you lend money to a family member.
Bunching Tax Deductions to Meet the Threshold for Itemizing
If you don't meet the threshold for itemizing deductions, consider these strategies for timing certain expenses to increase your deductions for that year.
How to Pay Zero Taxes
Find out what it takes to be part of the "47%" who don't pay taxes.
Deduct Your Investment Expenses
You can deduct all ordinary and necessary expenses you incur related to your income-producing activities.
Deductions You Can Take Without Itemizing
Even if you don't itemize, you may be able to claim deductions.
Harvesting Capital Losses
A popular year-end tax strategy. Find out how it works.
How to Minimize Taxes On Your Mutual Fund Earnings
Mutual funds are some of the most popular investments around, yet many people have little idea how their funds are taxed. It pays to understand and learn how to avoid certain tax traps.
Miscellaneous Itemized Deductions: Often Overlooked, but Valuable
You can get big tax savings by tracking and claiming your miscellaneous itemized deductions.
Deducting Subscriptions
Find out all the ways subscriptions may be deductible.
The Earned Income Tax Credit: A Valuable Credit for Low Income Earners
Don't miss out on this valuable credit the federal government provides to low income working people to help them make ends meet.
Deducting State and Local Taxes: How to Choose Between Income and Sales Tax
Here's some help on how to choose whether to deduct the state and local income taxes you paid for the year or the state and local sales taxes you paid.
Unusual Tax Deductions
They may sound wacky but here are some tax deductions that the IRS allowed.
When Can You Deduct Nonbusiness Debts?
Find out when you can deduct a nonbusiness (personal) loan as a bad debt.
Is Your Dog Tax Deductible?
Learn about circumstances under which dog-related expenses are tax deductible.
Obama's Latest Tax Proposals for 2013
The Obama Administration's 2013 tax reform plan proposes making dozens of changes to the tax laws, including closing or reducing many tax loopholes and cherished deductions.
Tax Breaks for the Disabled
If you're disabled, you are entitled to an array of disability tax deductions and credits.
Tax Deductions for Vacant Lands
What tax deductions you're entitled to will depend on what type of land owner you are.
Like-Kind Exchanges
Like-kind exchanges can be an important tax savings device for people who own investment property that has gone up in value.