I have a question about deducting child support on my tax return. Can you deduct the child support payments made to another person?
No, deducting child support payments is not allowed. If you are the person paying the child support you cannot deduct the payments on your tax return. Additional, if you are the person receiving child support payments you cannot deduct the payments because you do not have to pay taxes on child support payments.
What is a closing disclosure? When you buy a house, you will receive a closing disclosure that can benefit you at tax time. Learn more at H&R Block.
Learn how to deduct student loan interest with H&R Block. Get information about qualified education expenses and see if a student loan tax deduction applies to you.
Are political contributions tax deductible? Before signing a check, learn the difference between charitable giving and political donations at H&R Block.
The startup tax or new business tax is a topic many new business owners shy away from. Don't get caught off-guard. Review these tips provided by our tax pros.