Tax Hacks » Uncategorized

Home Office Deductions — In the U.K.

thursday — Tue, 18 Nov 2008 16:17:15 +0000

I’ve been reading up on home office deductions, and I was pleasantly surprised to learn that there’s a home office tax deduction available to those folks filing in the U.K. The deduction includes a portion of electricity and heating costs and, in some situations, mortgage interest. It does seem that it’s a little harder for telecommuters to claim a British home office deduction than it is in the U.S. — you have to have a contract explicitly stating that your employer does not provide you with any offfice space.

More information is available on this post by Catherine Roseberry at About.com.

Deductible: Student Loan Interest

chris — Tue, 21 Oct 2008 01:20:21 +0000

In many cases, any payments put toward your student loan interest is Tax Deductible. This has rapidly become important to me this year, as my wife and I pay ridiculous amounts to the student loan authorities of the world.

What are the requirements? Like nearly all adult student deductions, if you are married, you have to file jointly, or no go. You also have to make less than $65,000 a year (single) or $135,000 (joint).

Tax Hacks

chris — Tue, 14 Oct 2008 20:54:21 +0000

This will be a blog featuring various US tax tips and tricks.

I file my own taxes each year, and there are lots of little getchas and bonuses if you do things just right, and lots of pitfalls you can run into.