Individual taxpayers can claim a wide variety of deductions on their federal taxes. "The basic rules of deductions start by ...

Most of the time, you'll probably find that any given tax credit is "nonrefundable," meaning that it can only decrease your ...

Looking ahead to your 2025 taxes and wondering about standard tax deduction amounts for each filing status? Here's what's ...

"Interest on home equity loans and lines of credit are deductible only if the borrowed funds are used to buy, build, or ...

In an old sitcom, the lead character tried to deduct a Thanksgiving turkey when she couldn't afford her taxes. While that ...

Tax credits are subtracted directly from the tax you owe, helping you cut down your overall tax bill. Tax deductions also ...

Most Americans don't know their own tax rate or what others pay to the IRS, yet most feel their taxes are too high.

Independent contractors can lower their tax bill by writing off business costs like travel and insurance but should consult a ...

When you sell your home, you may owe capital gains tax on the profit from the sale. The IRS calculates this by subtracting ...

(InvestigateTV) — A recent survey by market research firm Savanta found that 49% of people have “little to no understanding of how to fill out U.S. tax forms,” making tax season a stressful ...

With tax season upon us, here’s a look at how tax deductions work and three deductions you may find surprising. A tax deduction is the amount you get to subtract from your income when you file ...