Tagged: tax deductions

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Fuller Announces Release of CE Course: Charitable Contributions In Depth

Salt Lake City, UT – Fuller Tax Preparer Training is proud to announce that its latest online continuing education course titled “Charitable Contributions In Depth” is now available. This two hour CE course explores the charitable contributions deduction for both individuals and businesses from the most basics concepts through to the complex. Topics include the parameters for Qualified Recipients of charitable contributions by...

Picture Example of a Home that could secure a mortgage with deductible interest. 0

Mortgage Interest Deduction: Acquisition Indebtedness v. Home Equity Indebtedness

As most taxpayers are aware, most mortgage interest is deductible. However, not all mortgage interest is the same for purposes of the deduction. There are two types of mortgage interest, each with different limitations placed on them by the Internal Revenue Code. The first and most common type of interest is acquisition indebtedness. The second type is called home equity...

Visualization of tax forms for adjustments to income and itemized tax deductions 0

Tax Adjustments vs. Tax Deductions – What’s the Difference?

Taxpayers often and fairly wonder what the difference is between an “adjustment to income” and a “deduction.” This confusion is often the result of the fact that so much of the time tax adjustments are referred to as deductions as well. In most cases, they’re called a “pre-AGI” or “Above-the-Line” deduction. For example, the so-called “Student Loan Interest Deduction” is...