Tag Archives: Real estate taxes

Using schedule a, you can itemize your deductions when you file your tax return. Doing so allows you to deduct specific taxes that you are required to pay during the tax year. You are only allowed to deduct taxes that you yourself are responsible for, meaning you can deduct taxes you paid for another taxpayer. […]

Different non-business related taxes can be deductible at tax time. There are four different types of state or local taxes that are eligible for federal deduction: Income taxes (including foreign) Real estate taxes (including foreign) Personal property taxes General sales taxes You can claim these taxes that you paid during the year on a Schedule […]