Governor’s proposal means greater reliance on standard deduction, a potentially costly move for some taxpayers.

"The mortgage interest tax deduction is a [tax benefit that] allows you to subtract the interest paid on your home loan from ...

Manchester City have been warned they could face a points deduction as high as 100 POINTS if found guilty of alleged Premier League financial rule breaches. D-day is getting closer for the club in ...

Standard Deduction: Income taxpayers can lower their income without providing any documentation or disclosures by using the standard deduction, which is a fixed sum subtracted from taxable salary ...

The home office deduction allows some filers to claim a tax break for expenses incurred working remotely. If you were a W-2 employee in 2024 — meaning your company withholds taxes from your ...

The best-known tax break is most likely the mortgage interest deduction. It may also be the least understood. There are two keys: You must file an itemized tax return. There are annual loan amount ...

Collectors of art, on the other hand, have continued to receive a full fair-market-value deduction on their tax returns for their gifts of that same art. Whether or not the current tax law ...

The inclusion of standard deduction and benefits for NPS has further enhanced its appeal. The standard deduction is a fixed deduction available to salaried individuals that aids in reducing their ...

Student Loan Interest Deduction: If you made a payment on your student loans in 2024, you may deduct the amount of interest you paid on them or $2,500 from your taxable income, whichever is less.

A proposed tax deduction for tipped income died in a House of Delegates subcommittee on Monday, as Democrats dealt the first blow to the package of tax cuts that Gov. Glenn Youngkin included in ...

Under Section 80D, deductions vary depending on the insured’s age and the coverage category. The deduction limit includes: Self, Spouse, and Dependent Children: Individuals under 60 years of age can ...