Learn how tax deductibles work to lower your taxes. Discover common deductions like student loan interest, charitable ...

Discover what medical expenses are deductible, including examples like insurance premiums and prescriptions, and learn how ...

Understanding your 1040 is the best way to legally minimize your taxes. Top tax professionals will tell you that effective tax planning needs to be proactive, not reactive. The best tax planning needs ...

Starting and running a small business is expensive. There are many different costs that go into operating a business, but many can be tax write-offs. For an expense to be deductible, the cost must be ...

A new tax break known as the “Production Deduction” was signed into law by President Bush late last year and is effective for years beginning after Dec. 31, 2004. Construction contractors and ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...

The 2017 Tax Cuts and Jobs Act has resulted in numerous changes to the tax laws— both on the individual and business levels. Some of the most impactful changes affecting 2018 and beyond are those ...

If you have a side hustle — or are full-time in business for yourself — you might qualify for self-employment tax deductions. These deductions can lower how much of your income is considered during ...

You don’t have much choice when it comes to whether to pay your taxes, but you can decide how to approach your tax deductions — those allowable subtractions that can lower the amount you owe in taxes.

Americans who are 65 and older got a hefty new tax break under the massive tax bill that President Donald Trump signed into law on July 4: A new bonus deduction that’s worth as much as $6,000 per ...