Calculation question, what is better to pay off overall with consideration to tax deductions…?

I am trying to decide what is best to start using my extra money to pay off…a student loan at 5.4%, an auto loan at 4.99% or a heloc at 7.75% I know student loans and heloc interest is tax deductible, but assuming these deductions don’t affect a change in bracket (tax rate) what is the calculated difference in interest saved (assuming 15% bracket) on whether to pay which of these three….(I guess I’ve always been told pay non-deductible first, but with these numbers I just don’t see how that adds up…and most importantly how do I actually calculate the real interest I’m paying on tax deductible interest so I can compare it to nondeductible rates…) thanks in advance for any help!

Tax deductions for a former RE agent?

I was a real estate agent at the beginning of the year of 2009, but unfortunately due to the slow market, I made no sales but racked up a ton of related bills. I understand that these things are tax deductible, but I made no income from my brief time there. Am I still eligible for any deductions seeing as how I made no income from the job and still had to pay bills and taxes, etc. Thanks in advance for any and all pertinent answers.
To clarify, I only started as an RE agent this year and since I made no headway I had no choice but to find a new job in order to recoup my losses incurred while being an RE agent.

Help with 1099 tax deductions…?

I’ve heard that when filing a 1099 you can also deduct state and local taxes, if this is true does this include all taxes paid on retail purchases, groceries, entertainment, etc…? Please answer in detail with all possible deductions. Thanks in advance.
To clarify, I guess I’m asking if "sales tax" are deductible.

What is the maximum deductions allowed on one's income tax filing?

For example, if I made a total of K this year, what is the maximum dollar amount of deductions allowed — period.

Thanks in advance!

Any alternatives to keeping reciepts for Tax Deductions? Weekly Planner? Bank Records? CPA Question.?

My CPA suggested I record all of my tax-deductible expenses on a weekly planner and have it notarized at the end of each month. He recommended using my ATM/Debit card so that I didn’t have to keep reciepts. I am wondering if instead of doing the weekly planner, I am able to print out any monthly statement from this year, utilizing online banking – will this be sufficient? Would I need to have this notarized?

Thanks in Advance!

What do I do if my deductions are higher than my adjusted gross income (state tax)?

I’m working on my Missouri tax forms, and I have all the information filled in except lines 10 and 11 on form MO-1040A. Line 10 is supposed to be your adjusted gross income minus your total deductions, but my deductions total to 00 more than my income. Could somebody please tell me what to do and/or give me a link to instructions for this kind of situation?

Thanks in advance!

Freelance graphic design business (on weekends) tax deductions?

I just graduated college and I’m looking into establishing a freelance graphic design business on the side (weekends) of my career position. What am I able to deduct on taxes? (Computer hardware, software, portion of the rent, internet expenses, etc.) I’m mostly curious about deducting a portion of my rent, so it would be helpful to know if that’s possible. Thanks in advance!

Freelance,private consulting for non-profits – Tax deductions?

I do private consulting (freelance) for a local non-profit as well as some various other businesses and was wondering if it’s best to continue collecting money personally or setup a company to do this business through. I was thinking about setting up an L.L.C (South Carolina). Also, would I be able to write anything off on my taxes by offering "discounts" or the like to non-profits?
Thanks in advance.

standard tax deductions for knowledge-based consulting firm?

I do research for, and give presentations in, the public and private sector, and have created a consulting firm (LLC) through which to run expenses and to have a business "front" to what I do. I have looked at the IRS Schedule A Itemized Deductions documents, and the Jackson-Hewitt deductions pages online. I have also searched through Yahoo Answers. I’m curious if anyone has created an Excel spreadsheet or if there is another web resource out there that itemizes the tax deductions I would typically be able to make each year. Of course, flights, hotels, gas involved in travel related to the consulting would be deducted, as would computer software and hardware that is needed for the business. It would be fantastic if there was some kind of list out there for consultants who do this type of thing. Thanks in advance for your advice and help.

What tax deductions should I look out for with a new baby?

My wife and I just had a baby in December. We are both full time college students and we both worked up until December when she started staying at home with our baby, now we’re a single income family. My annual gross salary is around ,000 and my wife made around 13,000. What tax breaks should I be looking out for? Thanks in advance!