Itemizing your tax deductions can be a great tax strategy. Just be aware of the various limitations placed on certain kinds of itemized deductions.

I get lots of questions about itemized deductions. Here's the scoop: You can either itemize your deductions or take the standard deduction based on your filing status. You take whichever ... Read More

Make the most of your tax deductions. Take the larger of your standard deduction or your itemized deductions. Tips for figuring your tax liability.

If you contributed to a traditional IRA for 2004, you can take an above-the-line tax deduction for your contribution. Your deduction reduces your taxable income dollar-for-dollar.

How to calculate and claim various tax deductions known as "above-the-line" deductions or adjustments to income. These deductions directly reduce your income, and you don't need to itemize. Line-by-line instructions ... Read More

You can still boost your itemized deductions for 2004 by donating cash to charities involved with the tsunami disaster relief efforts. As I previously reported, a recently enacted tax law ... Read More

Find a tax preparer easily by focusing on what's most important to you. Retail tax firms like H&R Block offer convenience, while an independent accountant may offer more personalized service.

There's more types of income than you can shake a stick at. Find out how to report various types of income on your Form 1040.

401K plans are a great way to save for retirement, and they are a smart tax strategy too. Every dollar you save in a 401k plan reduces your taxable income. ... Read More

You may claim a personal exemption for yourself and for your dependents. You cannot claim an exemption for yourself if someone else can claim you as a dependent. You can ... Read More

This newly released information from the IRS may be of some interest to homeowners who are interested in minimizing taxes on their personal or rental real estate using a like-kind ... Read More

Being pro-active and having ample documentation is the best defense against an IRS audit. Other tips for reducing the chances of your tax return from being scrutinized by the IRS.

Taxes on investment gains fall into two categories, long and short term capital gains. Knowing the difference can mean a bigger tax bill if you're not careful.

Choose only one filing status, depending on your situation. Generally, your filing status depends on your marital status as of the last day of the year.

If you are searching for a job, you can deduct your job search expenses as an itemized deduction on your Schedule A. Find out which job hunting expenses are tax-deductible.

California will be granting tax amnesty for people and businesses in 2005. The program will last only two months, from February 1 to March 31, 2005.

Preparing your taxes can be taxing – not to mention exhausting! Fortunately, there's three tricks to making tax time a little less frustrating.

The top picks for tax software to help you prepare your 2004 tax return.

The price for tax preparation services is based entirely on how complex your tax retun is. Find out how different companies price their services, and what some overall price ranges ... Read More

Prepare your 2004 tax returns on Form 1040 using easy-to-follow steps. Plus tips for preparing your tax return accurately and completely.

Find tax forms to prepare your 2004 personal income taxes. The most common tax forms are arranged in an easy-to-find format. From your About.com Guide to Tax Planning.

Saving for your retirement is the number one way to reduce your taxes. Get information on tax strategies for retirement and learn about tax-deferred retirement plans from your About.com Guide ... Read More

Tax preparers should stand behind their work. Ultimately it's your tax return, and you alone will have to pay any additional taxes, penalties, and interest if the IRS finds a ... Read More

I'm a big fan of trying to put taxes in a larger perspective. For example, trying to understand how my tax dollars are spent by the government. Another way to look ... Read More

Refund anticipation loans get your tax refund to you faster -- often in two days or less -- but banks charge you high interest rates. Deborah Fowles, Your Guide to ... Read More

Form W9 is a request for your taxpayer identification number. Information about what the form means and how to fill it out.

Before you prepare your taxes, gather all the documents you need to prepare a complete tax return.

Comprehensive, easy-to-read, and well organized. I recommend the book to anyone preparing their own taxes, either by hand or by computer. Next best thing to having a CPA sitting next ... Read More

Filling out a W-4 is one of the first things you do when you start a new job. You may want to fill out a new W-4 if your financial ... Read More

TaxAct Online Standard is highly recommended for people with relatively straightforward tax returns to prepare. TaxAct Online Standard's appealing price (free) makes it a top choice for many. TaxAct Online ... Read More

Highly recommended for its well-written tax interview. Especially recommended for people who are self-employed or who have rental income.

The goal of tax planning is to arrange your financial affairs so as to minimize your taxes. There are three basic ways to reduce your taxes, and each basic method ... Read More

Epstein has an ambitious goal: to produce a tax book that lives beyond April 15th as a handy guide to tax planning. Her information on the tax aspects of divorce ... Read More

When you're job searching, it's important to keep track of your job search expenses, because these costs may be a tax deduction when you file your income taxes.

The book "How to Pay Zero Taxes, 2005" is recommended for anyone who wants to implement long-term tax strategies to reduce or eliminate their tax liabilities. Long-term strategies require careful ... Read More

TaxAct is highly recommended for people with relatively straightforward tax returns to prepare. TaxAct's appealing price and premium features makes it a top choice for many. The TaxAct Deluxe download, ... Read More

"Taxes 2005 For Dummies" is easy-to-read, well organized, and thoroughly helpful. I recommend the book to people who want to prepare their own taxes, either by hand or by computer. ... Read More

A dependent is someone you take care of. Claiming a person as a dependent on your tax return will increase your personal exemptions, and may help you qualify for other ... Read More

CompleteTax offers a simple user interface, allowing you to enter data and answer interview questions in a no-frills environment. CompleteTax is the fastest of all the software programs for a ... Read More

First in our series of reviews of essential tax software and books for preparing your 2004 tax return. TaxCut 2004 for the Web offers quick and easy tax preparation, with ... Read More

Prepare your 1040EZ using easy to follow instructions.

Any mismatch between the IRS and the Social Security Administration database regarding your name and Social Security Number can causing e-filing errors. The same is also true for your date of ... Read More

The National Taxpayer Advocate is an independent organization within the Internal Revenue Service that reports directly to Congress on issues that impact the lives of every taxpayer. Nina Olson, head ... Read More

The IRS has updated Publication 600, Optional Sales Tax Tables, to reflect changing sales tax rates in three states. This revision effects taxpayers in Arkansas, California, and Virginia. The sales ... Read More

A new tax law allows you to donate cash now and take the deduction on last year's taxes. According to CBS MarketWatch, you can make a cash donation to charity ... Read More

Dear Tax Guide, The IRS sent me a letter demanding that I file my 1999 tax return. I have no records from this year. What should I do? Dear Reader, ... Read More

Portland, OR, Guide Elizabeth Mitchell provides excellent tips on selecting the right charity for disaster relief efforts in southeast Asia. As a former non-profit grant writer, Elizabeth knows how to ... Read More