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Revisiting a History of Marriage in the Tax Code, Part 11

By | December 20th, 2017|Categories: Potpourri of Tax Topics|Tags: , , |

The tax reform of 1986 eliminated the marriage penalty at the lower income levels. The marriage penalty did still exist, but only at higher income levels.

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What Tax Benefits Does Form 8332 Give?

By | December 13th, 2017|Categories: Potpourri of Tax Topics|Tags: , , , |

With a Form 8332, the non-custodial parent can claim the dependency exemption for the child and also claim the child tax credit.

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Revisiting a History of Marriage in the Tax Code, Part 10

By | December 6th, 2017|Categories: Potpourri of Tax Topics|Tags: , , |

The tax oddity that we now call the “marriage penalty” came about in 1971. Let’s look at some examples.

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From the Archives: Filing Separately on Your Iowa Return? Don’t Forget to Allocate Deductions

By | November 23rd, 2017|Categories: Potpourri of Tax Topics|Tags: , |

In Iowa, if you file as married filing separately, you must allocate itemized deductions based on income ratios.

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From the Archives: Can a College Professor Deduct the Cost of Materials for “General Knowledge”?

By | November 21st, 2017|Categories: From the Archives|Tags: , |

It's a holiday week, so I'm re-publishing popular blog posts from the past. Just like Monday's "From the Archives," this one from last September is about college professors and their work-related expenses. ----- Originally published September 26, 2016 Image courtesy of Pixabay.com College professors may be entitled to certain deductions on their tax returns for classroom [...]

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