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Claim tax deductions and credits with confidence using this complete list of tax relief opportunitiesIt seems that every year your personal tax return gets more and more complicated. What can you claim? What can you deduct? J.K. Lasser's 1001 Deductions and Tax Breaks 2021 offers simple and step-by-step tips on the tax relief available to individual taxpayers just like you. You'll discover how to take advantage - legally - of every available tax deduction and credit out there.Attorney, expert, and author Barbara Weltman walks you through every single credit and deduction available to you and shows you which forms you need to fill out to claim them. You'll learn:* How to review your records for deduction and credit opportunities* Keep the right records and receipts in case the IRS comes calling* What types of income are tax free* Which COVID-19-related tax breaks apply to you* The difference between a deduction and a credit, and why it mattersWhether you're filling out your first tax return ever or your fifty-first, J.K. Lasser's 1001 Deductions and Tax Breaks 2021 will show you easy ways to increase your tax refund and decrease your tax payable on you 2020 return and plan for additional tax savings in 2021.
List of contents
Introduction vii1. You and Your Family 12. Medical Expenses 303. Education Costs 814. Your Home 1185. Retirement Savings 1556. Charitable Giving 1957. Your Car 2248. Investing 2379. Travel 26810. Real Estate 28911. Borrowing and Interest 31912. Insurance and Catastrophes 33313. Your Job 34914. Your Business 36815. Miscellaneous Items 397Appendix A. Items Adjusted Annually for Inflation 421Appendix B. Checklist of Tax-Free Items 427Appendix C. Checklist of Nondeductible Items 431Index 437
About the author
BARBARA WELTMAN is an attorney and a nationally recognized expert in taxation for small businesses, as well as the author of many top-selling books on taxes and finance, including J.K. Lasser's Small Business Taxes. She is also the publisher of Idea of the Day(r), is quoted regularly in major publications (including the New York Times, the Wall Street Journal, and Money magazine), and is an award-winning blogger. Visit her at www.BigIdeasForSmallBusiness.com.
Summary
Claim tax deductions and credits with confidence using this complete list of tax relief opportunities
It seems that every year your personal tax return gets more and more complicated. What can you claim? What can you deduct? J.K. Lasser's 1001 Deductions and Tax Breaks 2021 offers simple and step-by-step tips on the tax relief available to individual taxpayers just like you. You'll discover how to take advantage - legally - of every available tax deduction and credit out there.
Attorney, expert, and author Barbara Weltman walks you through every single credit and deduction available to you and shows you which forms you need to fill out to claim them. You'll learn:
* How to review your records for deduction and credit opportunities
* Keep the right records and receipts in case the IRS comes calling
* What types of income are tax free
* Which COVID-19-related tax breaks apply to you
* The difference between a deduction and a credit, and why it matters
Whether you're filling out your first tax return ever or your fifty-first, J.K. Lasser's 1001 Deductions and Tax Breaks 2021 will show you easy ways to increase your tax refund and decrease your tax payable on you 2020 return and plan for additional tax savings in 2021.
