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

Navigating the complexities of tax season can be daunting, especially when deciding between a tax deduction or a tax credit.

Many Americans may think that because they work from home, they can take tax deductions for a portion of their rent, ...

Your payday could get a bump this year now that the Internal Revenue Service's updated income tax brackets and higher standard deductions have taken effect. Depending on your income level ...

The secret is in leveraging both tax deductions and tax credits. Before you start your tax return, let’s clarify the differences between a tax credit and a tax deduction and how both work to ...

The IRS has unveiled the updated tax brackets and standard deductions for the 2025 tax year, reflecting adjustments for inflation.

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 ... percent and raise the tax-free threshold to $400,000 a month.

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 ...

TIL Creatives Budget 2025: Higher 87A tax rebate, deduction on home loan, income tax slab and more; What to expect We have asked various experts their suggestions on how the FM can give a big tax ...