Classroom expenses for teachers – Qualifying educators can deduct up to $250 for out-of-pocket classroom expenses. Restrictions apply, of course, but this is, not surprisingly, one of the more popular ones on the list.
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) today ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for federal tax purposes.
The ruling applies regardless of whether the couple lives in a jurisdiction that recognizes same-sex marriage or a jurisdiction that does not recognize same-sex marriage.
State and local sales tax – Taxpayers in states that do not have a state income tax can currently deduct state and local sales tax from their federal return. (Those who pay state income tax can deduct that amount if they itemize.) The state and local sales tax deduction goes away come Jan. 1.