Civil engineering is a broad field that focuses on the design, construction, and maintenance of the physical and naturally built environment. This includes roads, bridges, dams, buildings, and more. For students interested in pursuing a career in civil engineering, choosing the right college is an i…
At a Glance Owning rental property allows for tax-deductible depreciation expenses Depreciation is an income tax deduction that recovers the cost of property over time Residential rental property has a useful life of 27.5 years for depreciation purposes Effective record-keeping is important when ded…
At a Glance Real estate taxes may be deductible on federal income tax returns Conditions for deductibility include being based on assessed property values and charged uniformly The Tax Cuts and Jobs Act implemented a cap on state and local tax deductions, including real estate taxes To claim real es…
At a Glance Professional association dues were deductible as unreimbursed work-related expenses before the Tax Cuts and Jobs Act (TCJA) of 2017. For self-employed professionals, these dues are often deductible if they are ordinary and necessary for their trade or business. Membership fees for certai…
At a Glance The tax deduction for moving expenses is suspended for non-military taxpayers from 2018-2025 Active-duty military members may be eligible to deduct moving expenses Military members must not be reimbursed for the moving expenses to claim the deduction State-level deductions or credits for…
At a Glance Moving expenses for military personnel can be tax deductible. Active-duty members of the Armed Forces may deduct unreimbursed moving expenses. Expenses include the cost of moving household goods, personal effects, and travel costs. These deductions can be claimed without itemizing. Activ…
At a Glance Losses from Ponzi schemes may be tax deductible under certain conditions IRS treats Ponzi scheme losses as theft losses Criteria for theft loss deduction Documentation required to support theft loss deduction Victims of Ponzi schemes suffer not only financial and emotional distress but a…
At a Glance Jury duty expenses are not tax deductible. Jury duty pay surrendered to employers was previously deductible, but recent tax reforms have affected this provision. Jury duty pay received directly should be reported as income on tax returns. Lost wages due to serving jury duty are not deduc…
At a Glance Job search expenses were previously deductible, but the Tax Cuts and Jobs Act (TCJA) changed the rules. Miscellaneous job search expenses are no longer deductible on federal tax returns. Self-employed individuals may still be able to deduct job search expenses related to their business. …
Music schools provide aspiring musicians, composers, conductors and other music professionals with the education and training needed to succeed in the music industry. With many excellent music schools across the country, choosing the right one is an important decision. Here are 10 of the top-rated m…