SOME SOURCES OF TAXABLE INCOME: • Salary or Wages • Earnings from Self-Employment • Interest and Dividends • Capital Gains on Sale of Property • State or Local Tax Refunds • Alimony • Retirement Plan Distributions • Incentive Stock Options • Rental Income • Unemployment Compensation • Sick Pay • Gambling Winnings         

SOME DEDUCTIONS OR ADJUSTMENTS TO INCOME:   • Tuition and Fees Deduction • Deduction for Educator Expenses • Contributions to an IRA • Contributions to an HSA • Retirement Plan Contributions • Moving Expenses • Job-hunting Expenses • Student Loan Interest • Part of Self-Employment Tax • Self-employed Health Insurance • Medical Expenses • State Income Tax Payments • Real Estate Taxes • Local Personal Property Tax • Home Mortgage Interest • Home Mortgage Points • Charitable Contributions • Investment Interest Expense • Un-reimbursed Employee Expenses • Casualty or Theft Losses • Tools & Uniforms for Work • Professional Dues • Work-related Education

Some Personal Tax Credits: • Retirement Savings Contribution Credit • Child Tax Credit • Additional Child Tax Credit • Credit for Child & Dependent Care • Education Credits • Adoption Credit • Earned Income Credit • Home Energy Credit

Some Business • Tax Credits: • General Business Credit • Investment Credit • Work Opportunity Credit • Welfare-to-Work Credit • Disabled Access Credit • Electric Vehicle Credit • Empowerment Zone • Employment Credit

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Maxine Peters-Giles Owner, CTI Professional