Question

The monthly list of expenditures on your credit card statement can be very helpful at tax time to find items for which you are entitled to tax deductions. true or false

Answer 1

Answer: Yes, your monthly list of expenditures on your credit card statement could very helpful at tax time.

When it comes time to file your taxes, there are a variety of different items that could be deductible.

For example, if you operate your own business, you may be able to deduct certain expense. Also, if you have a lot of medical expenses, they could be tax deductible. If you donate money to charitable organizations, it could be tax deductible.

It would be wise to save your statements and look for deductions.