Tax Instructors | Bookkeepers
SOME SOURCES
OF TAXABLE INCOME:
•
Salary or Wages
•
Earnings from Self-Employment
•
Interest and Dividends
•
Capital Gains on Sale of Property
•
State or Local Tax Refunds
•
Alimony
•
Retirement Plan Distributions
•
Incentive Stock Options
•
Rental Income
•
Unemployment Compensation
•
Sick Pay
•
Gambling Winnings
CTI-Tax Specialists
SOME DEDUCTIONS OR
ADJUSTMENTS TO INCOME:
•
Tuition and Fees Deduction
•
Deduction for Educator
Expenses
•
Contributions to an IRA
•
Contributions to an HSA
•
Retirement Plan Contributions
•
Moving Expenses
•
Job-hunting Expenses
•
Student Loan Interest
•
Part of Self-Employment Tax
•
Self-employed Health Insurance
•
Medical Expenses
•
State Income Tax Payments
•
Real Estate Taxes
•
Local Personal Property Tax
•
Home Mortgage Interest
•
Home Mortgage Points
•
Charitable Contributions
•
Investment Interest Expense
•
Un-reimbursed Employee
Expenses
•
Casualty or Theft Losses
•
Tools & Uniforms for Work
•
Professional Dues
•
Work-related Education
Some Personal Tax Credits:
•
Retirement Savings Contribution
Credit
•
Child Tax Credit
•
Additional Child Tax Credit
•
Credit for Child & Dependent Care
•
Education Credits
•
Adoption Credit
•
Earned Income Credit
•
Home Energy Credit
Some Business
•
Tax Credits:
•
General Business Credit
•
Investment Credit
•
Work Opportunity Credit
•
Welfare-to-Work Credit
•
Disabled Access Credit
•
Electric Vehicle Credit
•
Empowerment Zone
•
Employment Credit
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