Senior citizens choosing the old tax regime can claim deductions under Section 80C on investments, including the tailor-made ...

The home office tax deduction is a tax break that some self-employed people who work from home can take advantage of. Here's what you need to know.

The Nigerian Electricity Regulatory Commission (NERC) has approved the deduction of N1.69 billion from the total annual ...

The 'One Big Beautiful Bill Act' proposes a significant increase in the SALT deduction cap, potentially reshaping the tax ...

"Expenses (like rent, electricity, Internet, etc) should be directly related to the profession. Proper records and proofs ...

This form will make it easier to show your deduction to the IRS. Retirement contributions are ... your home office’s square ...

The budget bill passed by the House includes a provision to quadruple the state and local tax deduction, a boon for some ...

One of the most contentious issues in the “big, beautiful” tax bill is how much to raise the state and local tax deduction, ...

The fixed rate per hour calculates the total of your deductible expenses for the income year, but does not apply if a separate deduction is claimed for any of the eligible expenses. "It is ...

The new tax regime makes sense when your total deductions and exemptions are less than the breakeven point for your income level. It’s ideal for those with a simpler salary structure ...

The standard deduction for tax year 2024 is $14,600 for a single taxpayer. So if your total deductions — including medical bills — are less than $14,600, it's not worth itemizing. If they ...

Homeowners can deduct state and local property taxes they pay each year. However, this deduction falls under the state and local tax (SALT) cap, which limits total deductions for state and local taxes ...