College is very expensive, but Congress and the IRS have given us ways to offset education costs.
A study by the government found that big bucks are lost annually by taxpayers who don’t take the time to itemize.
I don’t know what Congress is planning to do regarding tax changes. What I do know is that every year around the third week of December Congress decides to change the tax code.
Mitt Romney pays a SHOCKINGLY low percentage of his income on taxes. For a man of his means seeking public office it is a SHAMEFUL number. But Romney is a man without shame.
Your school loan payments won’t start until 6 months after graduation and you will be eligible for a deduction on the interest you pay.
Normally if you purchase capital equipment for your business you don’t get to expense the total cost of the equipment the year you buy it.
So what can you deduct if you are self-employed? A lot!
Paying taxes is a privilege; I know you don’t think so but it’s the price we pay for living in this country.
College is very expensive. Congress and the IRS have given us ways to offset education costs.
WBZ’s Dee Lee tells you what you can and can’t deduct on your income taxes.