Medical expenses. Under the TCJA, taxpayers can deduct unreimbursed medical expenses that exceed 7.5 percent of their AGI. The floor was 10 percent of AGI prior to the TCJA. Other itemized deductions.

Monthly charge card statements do not constitute original receipts, however, charge card addenda records may be used as receipts when they contain itemized details pertaining to the purchase. In ...

You can take the standard deduction based on your filing status, no matter what expenses you have. Itemized deductions are based on specific expenses, such as charitable contributions, mortgage ...

David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning.

Can I only claim that on my taxes under medical expenses if I itemize my deductions on my taxes? I don’t have any other deductions. Answer: Your husband’s expenses may be enough to justify ...

The Travel Expense Report presents all costs incurred and is to be accompanied by original itemized receipts where required. Where receipts are missing, it is up to the individual to obtain duplicates ...

Try H&R Block, one of our recommended platforms. If you elect to itemize, you can deduct a variety of common expenses. To claim these deductions, you must complete the IRS Schedule A and file it ...

For those who are ready to take the leap into budgeting, creating a spreadsheet from scratch isn’t necessary. You can save time and hassle by using a premade budget worksheet. Some templates let ...