Business taxpayers are often entitled to extra self-employed and small business tax deductions, which can potentially lead to ...

For 2025, these autos have a Section 179 tax deduction limit of $12,200 in the first year they are used. In fact, if the ...

Most people claim the standard deduction on their federal tax return instead of itemizing deductions. How much can you claim?

With tax season just around the corner, knowing how to navigate work from home tax deductions can help you save time — and ...

President Donald Trump’s One Big Beautiful Bill Act (OBBBA) raised the state and local tax (SALT) cap deduction to $40,000 from the previous $10,000, as previously reported by GOBankingRates. For ...

In a case of first impression for the Eleventh Circuit, the court affirmed a Tax Court holding that expenses of activities not engaged in for profit, i.e., hobbies, are allowable only as miscellaneous ...

A few months ago, in response to a question from a reader, I discussed the deduction of health care premiums. I received many responses, and several readers raised issues related to this deduction.

The standard deduction is the dollar amount that reduces the amount of income on which you are taxed. And, for tax year 2023, that figure has changed. Standard vs. itemized According to the Internal ...