It is getting close to April 15th. Have you thought out how to itemize your taxes if you work from home or have an office in your home. The income tax deduction for home business is actually several different deductions. You will need to complete IRS Form 8829 Expense for Business Use of Home and […]
Tag: income tax
Homestead Rebate for New Jersey Residents
According to the Tax Foundation, New Jersey has the highest state and local tax burden in the country, estimated at an average of 11.8% of income compared to a national average of 9.7%. One of the main reasons is the high rate of property taxes in New Jersey. But there is some relief available in […]
Eligible Home Renovations Covered Under HRTC
Canada’s Economic Action Plan, also known as the 2009 Budget, is chock full of good stuff for the average Canadian. One credit that is getting a lot of attention is the increasingly popular HRTC, or Home Renovation Tax Credit. Briefly, the HRTC allows homeowners a tax credit of between $1,000 and $10,000 just to fix […]
What Home Improvements are Tax Deductible?
First off even before we begin, let me recommend you to keep aside a file of all the receipts and invoices of payments made by you in relation with home improvements. They do come in real handy when you are filing your taxes. The following is a brief explanation about the home improvement expenses that […]
