America’s favorite group of superheroes takes on their most feared enemy, Thanos, in theatres soon. While they’ve been in hiding and mourning the loss of those affected by the Decimation, the Avengers are planning their Endgame...and have hopefully filed their taxes in the meantime. Here are some deductions and credits they could qualify for this year.
Steve Rogers, America’s First Avenger, has been going through a lot of stress. With S.H.I.E.L.D being infiltrated by HYDRA, his constant flashbacks of WWII, and life before being frozen — he really can’t find a well-paying 9-5 job. Because Cap now makes less than 15,270, he would be eligible for the Earned Income Tax Credit. Since he has no qualifying children, he filed “Single,” therefore the maximum credit that can be received for the 2018 tax year is $519. Although he’ll have his hands full with his team, his return could be simple and filed in no time.
Tony Stark, better known as Iron Man, is stranded in space — but his tax professional still made sure to file on time. Tony claimed the Home Office Deduction for his massive lab/office. His workspace is used regularly and exclusively for business-related activities like R&D and Avengers research. The IRS allows him to write off associated rent, utilities, real estate taxes, repairs, maintenance, and other related expenses. Before ending up in space, Tony frequently used his limo for business and charity. He visited schools and delivered equipment to his protégé, Peter Parker (RIP, for now). Tony was able to claim 54.5 cents for every mile of business travel drove and 14 cents per mile drove in service of charitable organizations. Iron Man may be one of the smartest men in the world, but he’s even smarter for using a professional to file his tax return.
Hawkeye (or Ronin)
Clint Barton, aka Hawkeye, is a family man. In Avengers: Age of Ultron, it was revealed that he had an entire family, with a new baby on the way. As in previous years, he filed Married Filing Jointly and claimed the Child Tax Credit. This credit offers up to $2,000 per qualifying dependent child 16 or younger at the end of the calendar year. As one of the only Avengers with a nuclear family, Hawkeye is lucky to have his wife handle the taxes while he fights beside his comrades.
Dr. Bruce Banner spent YEARS in school and has a Ph.D. in Biochemistry. He did receive tuition assistance but still needed some student loans to complete the doctoral program. Adding these loans to his past debt from his bachelor’s and master’s degrees, Banner qualifies for the student loan interest deduction. After he received his 1098-E, he deducted the interest he paid on the loan during the tax year. This deduction is capped at $2,500 per return. While the Hulk smashes, his tax preparer will finish his return before the deadline.
The Tax Cuts and Jobs Act changed a lot for us average joes and superheroes alike. When Ant-Man came on the scene in 2015, this bite-sized superhero had a slew of work-related deductions for his uniform and more. The TCJA removed many itemizable deductions such as unreimbursed employee expenses and theft and personal casualty losses. Luckily, the standard deduction was NEARLY doubled, to help ease the transition for those who frequently itemized. Ant-Man’s tax preparer is well-versed in the new tax code and can still help shrink his bill.
Remembering to file your taxes or an extension can be stressful, and with the pressure of conquering their most feared enemy, the Avengers have a lot on their plate. With proper planning and a professional tax preparer in their corner, filing should be a breeze.
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