2004 taxes ? tax tips, you must prepare before sending the IRS ...

If you need assistance in filing tax returns for 2004, the article gives you this a few tips to help you prepare before the submission of the free IRS eFile at.

In the event that I do not know some tax tax ??bill affected by the new federal states and to consider, in be taken. The following list shows some of these changes to some degree:

Deductions for the cost of credit and teacher

In the U.S. state of California of the credit for teachers was withdrawn, but they can still the $ 250 deduction for classroom supplies and expenses laid out in profit.

Tax rebate on the sales

This fee is state you to choose between deducting sales tax and a possible income tax deduction under the laws of. You can not make major purchases such as boats and motor vehicles.

The final decision will be some research, but remember that if the deduction for state incomeTax to report> that the refund taxable income of the following year for federal government back.

Do you sell the first house

If you sell the main house that you own pair a minimum of 2 years as a married are not required to pay any tax on capital gains for the first $ 500,000, when this amount would be $ 250,000 individual.

There are new guidelines IRS that allow some form of exemption due to unforeseen circumstances such as divorce,Death, loss of jobs, the destruction of the house, creating more than one child at a time, and much more.

Standard Deductions

The amount of this increase was:

to pay $ 4.850, if you are single or if you are married and the declaration to separate the

$ 9,700 if you are a married couple filing

$ 7,150 security deposit when the head of the household

Individual exemption

This exemption has been increased to $ 3.100, while the thresholds for the AGI phase-out,that payment of $ 214,050 if filing as a couple and $ 142,700 if you are single.

Child income

If you are a parent with children under fourteen, these revenues could range from $ 800 to $ 8,000 range. In 2004, the exemption of children has been increased $ 1,600 to.

Finally, I want to emphasize that it is easy to get help in all areas of taxation in those days. So if you have to return taxes to the file 2004 to go:FileLate.com

Source: http://finance-taxes-tools.chailit.com/2004-taxes-tax-tips-you-must-prepare-before-sending-the-irs-free-efile-2.html

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