Medical expenses can be a major tax deduction, but only if they go over 7.5% of your adjusted gross income, which is ...

If you lived with another person in 2024 If you lived with another person at any time in 2024 and in the first 60 days of 2025, you need to determine who can claim the deduction for child care ...

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

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 work from home, you may qualify for a home office deduction.