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NEWS ABOUT: tax deduction

7 Tax Breaks You Probably Don't Know About

You may be able to deduct college courses, disaster losses

(Newser) - If you've put off your taxes until the last minute, here's a little reward for your procrastination: Time offers seven tax breaks that could save you money—now that you actually know about them:
  • Higher education: There are certain credits available for qualified tuition, and you may not
... More »

Tax Cheating, Easy? Experts Tell You How

Accountants and tax lawyers share tips for beating Uncle Sam

(Newser) - So the New York Times is offering tips for tax cheaters. Guess we know which newspaper will be audited next—but for now, let's take advantage of the paper's survey of 20 tax lawyers, accountants, and policy wonks:
  • The easiest way to cheat is ... running your own company—
... More »

Federal Taxes at Lowest Level Since 1950

But rates will increase in the coming years

(Newser) - Griping about high taxes? Not so fast: Federal tax bills are at historic lows this year, and for the third consecutive year, families and businesses will pay less than they did under George W Bush. The government’s take—as a share of the national economy—is its lowest since... More »

Total Drag: Medical Pot Isn't Tax Deductible

(Newser) - After a little bit of confusion—thanks to a vaguely worded letter from the IRS on the use of an "herb"—it was re-confirmed marijuana is not eligible for deduction on citizens' personal tax returns. Even in states where it can be legally prescribed by a doctor. Read... More »

Schools Win; NASA Loses

First look at proposed 2011 budget shows sharp break between haves and have-nots

(Newser) - President Obama delivered his proposed 2011 budget to Congress today, and the Washington Post drills down to find the winners and losers. Winners first:
  • K-12 education: The Department of Education's budget will increase by 6%, or $3 billion.
  • Research: The proposal pumps up the Energy Department's budget 7%, or $2
... More »

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