The SALT deduction lets people reduce the amount of their annual income that can be taxed by the federal government by subtracting how much they pay in state income taxes and local property taxes.

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 ...

Unfortunately, full-time employees still can’t claim a tax deduction for home office expenses—that tax benefit is reserved for freelancers and small-business owners. Up until tax year 2017 ...

Maguire believes the club can expect a huge points deduction if they’ve breached the rules He told the Tear Us Apart podcast: “Looking at the commission reports for Nottingham Forest and ...

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 ...

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.

In certain cases, home improvements can also be deducted. For many taxpayers, the standard deduction is higher than their itemized deduction would be, so it’s worth running the numbers and ...

With more than half of Generation Z Americans in college now or in the recent past, and with many of them collecting student loan debt, the current political and economic climate demands a ...