Kansas, (PressExposure) January 16, 2009 -- Mark Peter, an entrepreneur and owner of the website http://www.irs-deductions.org presents a very useful tax deduction guide.
The IRS is an Internal Revenue Service, provided to educate all the tax payers to properly deduct the eligible tax.
There are different IRS tax deductions that will help to lower the taxable income that helps to lower the tax bills. It is always good to have a checklist that helps you to claim as many IRS tax deductions based on the situation. The basic tax checklist is:
â¢ Medical and Dental expenses â¢ Taxes â¢ Interest Exposure â¢ Contributions â¢ Non Business casualty and Theft losses â¢ Car and other employee business expense â¢ Tax benefits for work related education â¢ Misc. tax deductions
There are two sections like section 179 and car donation tax deduction.
The section 179 deduction called as the first year expense allowance, helps for larger tax deduction. If a tax payer buys a property that qualifies for section 179 then one can choose either to depreciate the property overtime or deduct a lump sum purchase price, up to some limit.
The car donation tax deduction can be claimed if the car is donated to any eligible organization, after proper proof has been obtained. One should check the right charity to donate the car or property so that tax deductions can be claimed.
A tax payer can take up either standard IRS deductions or itemized deductions to get most tax refunds or the least tax liabilities. So are you ready to know more information about all these tax deductions? Then, just log on to the website http://www.irs-deductions.org/irs-tax-deductions and get complete tax planning guide which gives all deduction options.