W ith tax season officially underway, you'll need to know the standard deduction amount you can claim for 2024. After all, most taxpayers opt to take the standard deduction rather ...

The U.S. tax code may be notoriously complex, but understanding some basic terms can help you breeze through your tax return ...

The 2025 tax filing season is underway, and there are several tax benefits that can help homeowners save money this year.

Your payday could get a bump this year now that the Internal Revenue Service's updated income tax brackets and higher standard deductions ... stayed the same. For example, if you made $48,000 ...

For example, if you owed $2,500 on your tax ... Tax deductions can work both as above-the-line deductions or as itemized deductions. Above-the-line deductions are applied to your adjusted gross ...

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 ...

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 ...

The Guyana Court of Appeal yesterday rejected the State’s attempt to stay an order mandating the deduction and remittance of union dues to the GTU. Following a strike by teachers last year ...

Changes to the income tax rules now deny income tax deductions related to non-compliant short-term rentals after 2023. If you rented out a residential property for short periods, these changes may ...

Employers can deduct up to 50% of their contributions through paycheck deductions. The program will become accessible in 2026. If a leave application gets approved, then the state will pay at ...

Each item must serve a business purpose to qualify for deductions. Examples include monthly account service fees and licensing renewals. Record-Keeping And Consulting A Tax Advisor While ...

Union Budget 2025: NPS contributions of up to Rs 50,000 to the National Pension System (NPS) under Section 80CCD(1B) qualify for deductions only under the old tax regime, and this benefit is not ...