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 ...

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 ...

The committee further recommended that the NRS be permitted to borrow funds as necessary for the execution of its functions.

If you’re self-employed and use your home office exclusively and regularly for that work, you may be able to deduct from your federal taxes a portion of home-related expenses, such as mortgage ...

But the cost to the state would be hefty: an estimated $334 million in the short term and over $200 million annually afterwards, according to a nonpartisan fiscal analysis.