The potential cap, which would limit how much philanthropic donors can deduct from their state taxes, adds to a climate of ...

When it comes to taxes, high-net-worth individuals and business owners have access to some creative ways to legally deduct ...

The U.S. tax code does not allow taxpayers to deduct penalties assessed by the Internal Revenue Service. However, they may ...

Some might be. In general, most closing costs are not tax-deductible. This is because the IRS regards them as part of the ...

There are certain outdoor home improvements that pay off handsomely in the future, and a swimming pool is one of them. This ...

These deductions can lower your taxes and are available to taxpayers across various income brackets and situations.

Richards notes that there are a few states that still allow employees to deduct unreimbursed home office expenses that are required for full-time work. The TCJA is set to expire at the end of 2025, ...

If you opt for the standard mileage rate (67 cents per mile for tax year 2024), you calculate your deduction based on the ...

For student loan borrowers, tax season's creeping up, and if you're wondering how much you can shave off your 2025 taxes with ...

Like most filers, we usually take the standard deduction, but itemizing our taxes is saving us money this year.

Owning a home is a milestone of personal achievement. And with Tax Day just around the corner, you might be surprised to find ...