Tax season opened on Monday, January 27, meaning Americans are now able to file and pay their tax returns for 2024 with the Internal Revenue Service (IRS).

How do federal tax credits work? Tax credits directly subtract money from the federal income taxes that you owe, meaning each ...

If you're a W-2 remote employee hired for a period of time to complete ongoing work on a company's payroll, you probably ...

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

If you paid interest on your student loan debt in 2024, you may be able to deduct up to $2,500 from your taxable income.

Gig work has been a game changer for many people, allowing them to parlay skills into side work that can add income without ...

Many Americans may think that because they work from home, they can take tax deductions for a portion of their rent, utilities and more. Not so fast. Not everyone qualifies to do that. Wage employees ...

It's officially tax season. While you're probably ... to premium versions if they offer additional deduction-finding features. Finally, keep records of everything. Here's my guide to creating the ...

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 ...

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 ...

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 ...