Common Tax Tips

Even if you do not have to file a return, it may be to your advantage to do so.

You can appoint a personal representative to speak to the IRS and answer any questions that may arise during the processing of your return.

Unemployment benefits are fully taxable by the Federal government but not usually taxable by the State.

If you have a gain from the sale of your main home, you may be able to exclude up to $250,000 of the gain from your income. ($500,000 on a joint return) You cannot deduct a loss from the sale of your main home.

The most you can contribute to your IRA account is $3,000, or $3,500 if you are over 50 years of age.

If you itemize your deductions your old car may be worth more as a tax deduction by donating it to a reputable and tax-qualified organization, rather than trading it in.

If you do volunteer work your travel expenses, such as parking fees, tolls, gas, and mileage are qualified tax deductions.

Casualty and disaster property losses can be counted as itemized deductions.

Relocation costs for a work-related move are deductable if you meet the requirements.

Job-related educational expenses may also be deductable under certain circumstances.