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tax deductions

tax deductions

Mother working in home office while boys play
Jupiterimages
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Depreciation from a home office

Q. Please explain depreciation, and why would anyone want to do it? It seems you’d get killed in taxes when you eventually sell a home.

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Ian Jeffery
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These are deductible expenses

Q. I know you can deduct certain costs for professional help, like accountants and financial planners. Who else can you deduct?

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More millennials are moving back home after college, according to a recent study. (Cathy Yeulet, ThinkStock)
More millennials are moving back home after college, according to a recent study. (Cathy Yeulet, ThinkStock)
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Can mom be a tax deduction?

Q. I’ve been helping my mother pay her bills. At what point would she be considered a dependent? Does it matter if she’s in Florida and I’m in NJ?

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(Helder Almeida, ThinkStock)
(Helder Almeida, ThinkStock)
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Can a college student take a tax deduction?

Q. My son is a sophomore in college. We are using money from his UGMA account to pay tuition. We earn too much to take tuition deductions, but he has no earned income. Can our son take the deduction?

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Kseniya Ragozina
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Deducting a part-time rented home

Q. I read your article about Airbnb rentals for your primary home and deductions, but what about rental income for a home that is mostly rented out for summer months? We only use it sporadically the rest of the year. Is the income still taxed the same way and the deductions based on only the days rented?

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Basketball
Orlando Rosu, ThinkStock
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Deducting training costs isn’t always a slam dunk

Q. My son is in college and plays basketball for his college team. He also does extra training for himself. If he spends the summer getting paid to train little kids, can he deduct his own training costs?

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Pizza
Chepko Danil, ThinkStock
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Are there business deductions for part-time jobs?

Q. My son starts college and he’s working this summer as a pizza delivery guy. What costs from his car use can he deduct?

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michal-rojek
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How you can deduct work clothing costs

Q. My son is getting a job at a small television station and he needs to buy clothes for when he’s on TV. Can he deduct those costs?

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tarasov_vl
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You’ll roll a gutter ball trying to deduct those bowling league fees

Q. I’m in a bowling league with a religious organization. Can I deduct part of the costs? I made the payment to the religious organization.

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jorgeantonio/Thinkstock
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What you need to know about college tax deductions and credits

Q. We paid college tuition from loans and 529 plan savings. What deductions can we take?

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