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

As the tax deadline looms many folks are beginning to take a closer look at their situation regarding their taxes and ...

Nonrefundable tax credits can only be used against taxes that you owe -- once your tax bill hits $0, you don't get the ...

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

Several lesser-known tax credits could help you save even more money. Here are a few you should know about before filing your ...

In a fair tax system, everyone pays their fair share, no one pays more than they can afford, and the government raises enough ...

It’s getting to be that tax time of year! Filing taxes, like paying taxes, may not be an enjoyable to-do, but receiving a ...

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

Tax filing season has begun. The Internal Revenue Service has information for people who are already filing their returns.

With the Republican party taking control of not just the White House but both chambers of Congress, the Tax Cuts and Jobs Act ...

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

People preparing to file taxes for the 2024 tax year may be eligible to claim a student loan tax deduction for interest payments.