De Deduct News Today

Because i dont like increasing the deficit. but certainly as well very important to me was continued e deduct and ability of salt. >> and you dont go back to washington until january 8. what have constituents said about this, how confused are they in new jersey? >> certainly questions have been asked. and i encourage constituents to discuss this with their accountants. and i think that we in new jersey want to continue this fight. and im certainly willing to work in a bipartisan capacity and i h...

Exceed 10% of your adjusted gross income. for example, if you make $50,000 a year, if thats your adjusted gross income you can deduct expenses that exceed $5,000. and that rule is even more generous if youre over the age of 65. if you think youre eligible to de deduct medical expenses start tracking them now and keep your receipts. there are things you may not realize are considered medical expenses. of course whatever you pay out of pocket for doctors and dentists visits that would count as lon...

Break in the country worth nearly $100 billion a year. >> when youre looking a the your house, the biggest chunk of that is the interest on your mortgage. >> theres a limitation on mortgage interest. the first $1 million of debt on a property is tax deductible on your primary residence. >> reporter: mortgage insurance is also deductible. but if you lost money when you sold your house, too bad. >> unfortunately, you cant e deduct the loss on a sale of a personal residence. the irs would want to t...