“The benefits of the deduction go primarily to high-income taxpayers because high-income taxpayers tend to itemize more often ...

Very few people like tax season, but missing out on valuable deductions could mean leaving money on the table. Many taxpayers ...

When you file your tax return, you must decide whether to take the standard deduction -- $14,600 for single tax filers, ...

A nonrefundable credit can reduce your tax liability to zero but not below that. Refundable credits can reduce your liability ...

If you decide to take a home office deduction and are self-employed, a portion of your HOA can be considered tax deductible on a prorated basis. If your home office occupies 20% of your home, you ...

The mortgage tax break is one of the most common. It enables you to deduct the home mortgage interest on the first $750,000 ...

Just because you work from home doesn't mean you can deduct a home office on your taxes. Here's how to qualify for the ...

The IRS allows you to take the standard mileage deduction or track and deduct your actual business use auto expenses. If you ...

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 Coalition this week unveiled a plan to allow small businesses with a turnover of less than $10 million to benefit from tax deductions for meals and entertainment. Under the plan, eligible ...

4. Section 24(b): Home Loan Interest — Interest paid on a home loan for a self-occupied property can be claimed as a deduction under Section 24(b): — Up to Rs 2 lakh per year for self-occupied ...

During this workshop, financial expert Julia Nikishina, who specializes in interior design accounting, will share insider tips and proven strategies to maximize your tax deductions ... navigate all ...