Most people file a tax return because they have to, but even if you don’t, there are times when you should–because you might be eligible for a tax refund and not know it. The six tax tips below should help you determine whether you’re one of them.
Ok so here’s the deal regarding deducting the cost of purchase and maintenance of your wardrobe. You can deduct the cost of buying and maintaining your clothes IF … yep there it goes… The BIG “IF” always associated with the IRS!! But your clothing may be deductible…
You may be able to claim the love of your life as a dependent, if they meet all of the required IRS tests for claiming a dependent. Let’s face it, dependents are valuable reductions in your taxable income, right off the top, because for each dependent you receive an exemption of $4050, the exemption amount for 2016. The exemption changes every year.
This situation came up with one of my clients, she’s lived and worked in the US for the past several years. Last year she married a foreigner and relocated to London. So what are the implications and considerations for her 2016 tax returns?