Income

Renting Your Vacation Home?

A vacation home can be a house, apartment, condominium, mobile home or boat. If you own a vacation home that you rent to others, you generally must report the rental income on your federal income tax return. But you may not have to report that income if the rental period is short. In most cases,… Continue reading Renting Your Vacation Home?

Charity, Planning, Taxes, Uncategorized

Tips for Taxpayers Who Travel for Charity Work

From IRS Tax Tips Newsletter: Do you plan to travel while doing charity work this summer? Some travel expenses may help lower your taxes if you itemize deductions when you file next year. Here are five tax tips the IRS wants you to know about travel while serving a charity. 1.¬†You must volunteer to work… Continue reading Tips for Taxpayers Who Travel for Charity Work

IRS, Planning, Taxes

IRS: Job Search Expenses Can Be Tax Deductible

Many healthcare professionals work based on the Academic Calendar. That means that a lot of Doctors switch jobs over the summer. According to our friends at the IRS in their IRS Summertime Tax Tip 2012-06: Summertime is the season that often leads to major life decisions, such as buying a home, moving or a job… Continue reading IRS: Job Search Expenses Can Be Tax Deductible