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Tax Submission | The Good Tax Guide - Part 2

The Good Tax Guide

Free Information and Tips on Tax Issues

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Is it possible to deduct losses from declared disaster areas on one’s tax return?

One can deduct taxes in case of casualty losses. But this is applicable for the particular year in which the casualty has occurred. Tax deductions can be obtained for that particular tax year only. But in certain cases like disasters which have got approval from higher authorities like one from the president of United States, [...]

Tax deduction on alimony paid to former spouse

The money paid to a spouse or person as per certain agreement is called alimony. The agreement can be a separation agreement or divorce agreement. These agreements are usually made with those people from whom you separate from rest of your life. It does not involve any kind of property settlement amounts. The alimony must [...]