These rates apply to your taxable income. Your taxable income is your income after various deductions, credits, and exemptions have been applied. There are also various tax credits, deductions and ...

There's no sure way to predict an IRS audit, but if you're self-employed, these ten "red flags" could increase your chances ...

Plus: Trump tariffs, beneficial ownership information (BOI) reporting, Earned Income Tax Credit, student loan interest ...

Tax filing season is officially underway and taxpayers should be on the lookout for W-2 and 1099 forms, among other ...

Your business will also have access to special tax deductions that aren't available to sole proprietors or partnerships. As ...

Section 80-IA grants deductions on profits earned from certain business activities. Its purpose is to incentivize investment in infrastructure and specific industries by providing tax benefits.

Historically, long-term investments and critical insurance have merited tax deductions. In the last five years after deductions were decoupled from income tax, the trends indicate a decline in life ...

Though the major tax relief is likely to be announced for the new tax regime, taxpayers need to know the current deductions available under the old tax regime. Here’s a comprehensive guide to the key ...

Congressman Lloyd Smucker entered the fray on Thursday, reintroducing his proposal to extend a business tax deduction set to lapse at the end of this year. His bill, reviving legislation he ...

IRS is cracking down on your online income. What to know - Millions more taxpayers with online side hustles will receive 1099-K tax forms this month ...

Additionally, there is a tax deduction of up to Rs 50,000 under Section 80CCD(1B), on top of the Rs 1.5 lakh limit under Section 80CCE. A significant change announced in the 2024 Budget is the ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. TikTok parent ByteDance is asking Chinese staff at its Singapore headquarters to pay tax to their home ...