Grab These Tax Breaks Before They Disappear

Some deductions and credits may be traded for lower overall rates in the Trump administration’s reform plans, so tax experts may want to make sure their clients make the most of them now. Accounting Today shared a list of some of the “need-to-know” deductions and tax credits, assembled by tax research and software provider Wolters Kluwer.

  • Home Office Deduction
  • Mortgage Interest Deduction
  • Mortgage Debt Exclusion
  • Home Mortgage Insurance Premium Deduction
  • Charitable Donations
  • Medical, Dental Expense Deductions
  • Medicare Premium Deductions, Self-Employed
  • Business Expense Tax Deductions
  • Child Tax Credit
  • Child and Dependent Care Credit
  • Adoption Credit
  • Earned Income Tax Credit

Read the full article here for more details and the breakdown of each tax break.

This content was originally published on Accounting Today. Original publisher retains all rights.

 

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Post by Kaitlin Alfvin

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