Is Sales Tax a Deductible Expense?
Many of the miscellaneous itemized deductions, including unreimbursed job expenses, have been repealed for the 2018 tax year. To make it easier for you to understand how you’ll be affected, GOBankingRates put together this list of popular tax deductions — and ones you might not know about — that you can still take advantage of.
Are there any tax deductions that are still available?
While several popular deductions went away, these write-offs are still available to tax filers. Tax deductions are a great way to lower (or in some cases, eliminate) your taxable income, which can help keep more money in your pocket at tax time.
Are there any tax deductions for IRA in 2018?
Prior to the change in the tax law, investors could deduct expenses such as investment advice, IRA custodial fees and accounting costs. However, these miscellaneous deductions are eliminated for 2018.
