Free Federal Tax - Free Federal Tax Return Online

Tax deductions are granted to an individual or a business entity to encourage positive initiatives such as charity and donations, investments, education, and environmental protection. The United States is known for its large number of federal tax deductions.

Federal tax deductions have been implemented to benefit the common man. However, there are instances in which these deductions are manipulated to evade taxes. You already know that claiming more Federal tax deductions is the best way to lower your tax bill. Federal tax deduction maximizer will find and determine which tax deductions are best for your situation.

Here are just 5 Federal tax deductions the deduction maximizer can help you take full advantage:

1. If you own a home Instead of taking the standard deduction, let the deduction maximizer check to see if you could save money by itemizing. If the interest you paid on your mortgage is more than the standard deduction, you would be better off itemizing.


2. State and local taxes Whether you own a home or not, itemizing can still save you lots of money. If you paid State or local taxes, the amount you paid is tax deductible.


3. Charitable donations Money you donated to places such as churches, Red Cross, and other nonprofit organizations qualify as Federal tax deductions.
4. Medical expenses Being able to deduct your medical expenses can be tricky. Let the tax software figure out whether you can use medical expenses as a tax deduction based on your adjusted gross income (AGI).


5. Miscellaneous tax deductions Once you've entered your information as prompted, the deduction maximizer will alert you to any of the over 300 other miscellaneous tax deductions you may qualify for.

Using tax software to find and claim the most Federal tax deductions is easy. Just enter your information when asked, and the tax software will figure out what deductions will save you the most money.

Labels: Federal Tax Deduction