Don’t Miss These Deductions or Credits

Roger and Annie discuss Congress and IRS roles when it comes to taxes, how tax code is used to encourage behaviors, how tax policy scoring works, and explain deductions versus credits.SponsorsPadgett -  Contact Padgett or Email Jeff PhillipsGet NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Links mentioned in this episodeChapters(00:00) - Federal Tax Update E3 (01:01) - Don't miss the Deductions on Credits on your Tax Return (09:13) - How tax policy is scored? (14:44) - Limitations of Deductions and Credits (17:42) - Do you take a standard deduction or a Itemized deduction? (21:49) - Deductions on Charitable Donations (24:09) - Gift Tax Returns (27:53) - Education Credits (34:58) - Sole Proprietorship Deductions (39:43) - Refundable Credits (41:58) - What does it cost to raise a child? (45:43) - Updates on the Employee Retention Credit  Follow the Federal Tax Updates Podcast on Social Mediatwitter.com/FedTaxPodfacebook.com/FedTaxPodlinkedin.com/showcase/fedtaxpodConnect with the Hosts on LinkedInRoger HarrisAnnie SchwabConnect with Padgettwww.padgettadvisors.comtwitter.com/PadgettUSAlinkedin.com/company/padgett-business-services/ReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of the Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.