There are so many tax deductions that are available to all those that file taxes and many people arent even aware of what these deductions are. Below are three overlooked deductions that can potentially raise your tax refund.
State Sales Tax is the perfect write off for those individuals that live-in places where there is no income tax. You can make a choice between either deducting your local and state income tax or your local and state sales tax. For most people that are in income tax states, the tax deduction based on your income is the best deal.
If you live in a state with income tax, the IRS has a table for its residents and their particular states which shows you how much you are allowed to deduct; however, the table is just a guide and more can be added to it as well; for example you can add sales tax if you boat a boat, airplane or car.
As stated above, to call you a CPA in Texas requires going through the program and passing an examination. This guarantees that there is a certain standard for professionalism. One of the requirements is occasional ethics for Texas CPAs. This means that licensees interested in getting or renewing their Texas CPAs license have to complete a 4-hour approved ethics course.. The Board as detailed in the Board Rule 523.131 approves the courses. Currently, this course must be completed once every other year. This means that licensees interested in getting or renewing their Texas CPAs license have to complete a 4-hour approved ethics course.
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