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Office Manager
Mary has been an office supervisor of well known tax prepearation business and ventures out on her own. Her determination is to save her clients from price gauging from the competion and to put as much back in your pocket as you have owrked so hard for. Level 3 certified, she can assist in any She gives the same expert attention to the 1040A as to the more complicated individual and business returns. 

Medical and Dental expenses are generally deductible to the extent they exceed 7.5% of your income. Some of the more common expenses:

 

 

  • adoption
  • birth control pills (prescribed)doctor/dentist fees
  • drug/alcohol treatment
  • guide dog costs
  • handicap access devices for disabled
  • hospital fees
  • insurance premiums
  • prescriptions
  • laser eye surgery
  • lead based paint removal cost
  • life-care fees for medical treatment
  • longterm care insurance premiums
  • meals/lodging related to hospital stays
  • medical devices
  • operations
  • organ donation
  • physician diet/health programs
  • psychiatric care
  • school and/or home for disabled
  • smoking cessation program cost
  • special life items (glasses, limbs, dentures, wheelchairs, hearing aids, contacts, etc.)
  • transportation (medical related)
  • weight loss programs cost

Taxes

The following taxes are generally 100% deductible.

 

 

  • state/local taxes
  • property taxes
  • payments to mandatory state funds
  • foreign income taxes
  • real estate taxes
  • value based auto license fee
  • general state/local sales tax*

 

* Through 2007, and potentially beyond, you may deduct either general state/local sales tax or state/local income tax. Since this provision is not yet permanent, it is a good idea to save receipts substiating major purchases involving sales tax.

 

Interest Expense

While most personal interest is no longer deductible (credit card interest, car loans, and the like), there are still interest expense deductions available to you.

 

 

  • home mortgage interest
  • 2nd home mortgage interest
  • home equity loan interest
  • interest on special assessments (as real estate tax)
  • business interest
  • investment interest
  • “points” paid
  • New! Mortgage loan insurance premiums covering mortgages purchased in 2007 and beyond

 

 

Charitable Contributions

(donating money or property)
Both cash and property are generally deductible if donated to qualified organizations. Qualified organizations include:

 

 

  • churches
  • non-profit schools
  • non-profit hospitals
  • public parks
  • boy & girl scouts
  • war/veterans groups
  • agencies such as: Red Cross, Salvation Army, Goodwill, CARE, United Way etc.
  • YMCA/YWCA
  • some environmental / conservation groups

.

Some Examples of Itemized deductions we can assist with.
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