Itemizing your taxes is great when you are a homeowner. As you file taxes for the 2024 tax year, there are some deductions ...

The home office deduction could provide a tax break on your 2024 return. Here’s who qualifies and how to claim it.

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

On the most basic level, artists who may not earn much or any of their income from the sale of their artistic output need to prove to the IRS that they are professionals and not just dilettantes.

If you’re not sure which ones you may qualify for, here are some common deductions and credits new tax return filers can take ...

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

On top of a new presidency, changing economic tides and more, we have another crucial money event to focus on soon: tax ...

There's no sure way to predict an IRS audit, but if you're self-employed, these ten "red flags" could increase your chances ...

The 93-page amendment to Senate Bill 1 introduced Tuesday scrapped an expanded homestead deduction and tax bill caps, which ...

GOBanking Rates talked to accountants and tax experts about the four deductions most people forget about that cost you money. Discover More: 7 Tax Loopholes the Rich Use To Pay Less and Build More ...

Federal tax credits are available for a range of purchases, including electric vehicles and clean energy home ... deduction — it’s easy. The amount of your standard deduction is based on ...

This implies that a portion of the income may be exempt from taxes based on its nature ... zero tax exemption for incomes up to Rs 4 lakh. Tax deductions refer to the deductions that a taxpayer ...