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Child care tax deduction is a policy that gives you yet another reason to keep your family tree growing. There are many tax savings that you may be entitled to because of your new bundle of joy. Some of the benefits are: (a) Supplementary exemption called Dependency Exemption(b) Child Tax Credit(c) Child and Dependent Care … Continue reading Child care tax deduction and the Dependency Exemption

The tax deduction covers the cost of the vehicle’s engine, the equipment used to store or deliver the fuel and the equipment used to exhaust combusted gases provided the expense on this head is not more than $2,000. This deduction applies for vehicles bought in the year 2005. Those who had purchased an automobile in … Continue reading Requisites for tax deduction