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Going through a divorce can be a stressful experience, and some items may be overlooked. Nevertheless, if you are in this situation, you should be sure to pay some attention to future health insurance. Medical bills and health insurance premiums can be extremely...

Last December, President Obama signed the Protecting Americans from Tax Hikes (PATH) Act of 2015 into law. The new law contains several tax benefits for individuals and companies. Deducting Sales Taxes IRA Charitable Donations Higher Education Tax Breaks Tax-Free...

Charitable donations usually can be deducted on Schedule A of Form 1040, along with other itemized deductions. You should have the required support materials, in case your charitable deduction is questioned. What's Inside Deducting Charitable Gifts Tax-Efficient IRA...

Among the itemized deductions on Schedule A of Form 1040, you’ll find “Interest You Paid.” As you get your records together for tax preparation, you should realize that not all interest can be deducted on your return. Interest you paid last year on credit card debt...

When you file your 2015 federal income tax this year, you can take a standard deduction. For 2015, that’s $6,300 for single taxpayers and for married individuals filing separately; $12,600 for couples filing jointly and for certain widow(er)s; and $9,250 for those...