Free Download
If you’re having tax problems

Category: Tax deductions and credits

No More Miscellaneous Itemized Deductions

The Tax Cuts and Jobs Act (TCJA)

The New Tax Cuts and Jobs Act (TCJA) and Itemized Deductions The list of miscellaneous itemized deductions is an odd mixture of various deductions that didn’t fit anywhere else in the tax code. It includes items such as losses from Ponzi-type investment schemes, tax preparation fees, and certain safety deposit box fees. There does not… Read more »

New Tax Law Changes: Alimony is No Longer Deductible by Payer

Alimony no longer deductible

New Tax Litigation for Alimony Payments The alimony deduction used to be a rare exception to the general rule that all income is taxable. A provision in the Tax Cuts and Jobs Act (TCJA) eliminates that exception. Under previous law, a spouse who made alimony payments received a deduction for these amounts. The payee spouse… Read more »