TAX TIP 127 JOB HUNTING EXPENSES
Keep track of your job hunting expenses.
TIP #115 Traveling expenses
You can deduct the out of pocket cost of travel outside the United States if your entire trip is devoted to business activities.
TIP #119 Unreimbursed medical expenses
Unreimbursed medical expenses have to exceed 10% of the taxpayer AGI,to claim the expenses on the tax return if under 65 years of age. If 65 and over the percentage will stay the same at 7.5%.
TAX TIP 129 INHERITANCE
Inheritance it is not taxable and it is not reported on your tax return, However if you receive any kind of interest, dividends or rents on that income then it is taxable
TIP 116 Gift tax exclusion
Yearly Gift tax exclusion for each individual is $14000.
TAX TIP 131 RENTAL PROPERTY
If your tenant pays any of your expenses, the payments are rental income. You must include them in your income from rental property.