It seems that every year your personal tax return gets more and more complicated. What can you claim? What can you deduct?J.K. Lasser's 1001 Deductions and Tax Breaks 2021offers simple and step-by-step tips on the tax relief available to individual taxpayers just like you. You'll discover how to take advantage - legally - of every available tax deduction and credit out there.
Attorney, expert, and author Barbara Weltman walks you through every single credit and deduction available to you and shows you which forms you need to fill out to claim them. You'll learn:
How to review your records for deduction and credit opportunities
Keep the right records and receipts in case the IRS comes calling
What types of income are tax free
Which COVID-19-related tax breaks apply to you
The difference between a deduction and a credit, and why it matters
Whether you're filling out your first tax return ever or your fifty-first,J.K. Lasser's 1001 Deductions and Tax Breaks 2021will show you easy ways to increase your tax refund and decrease your tax payable on you 2020 return and plan for additional tax savings in 2021.