The state and local tax deduction could change in 2025 as lawmakers debate Trump’s tax cuts. Here’s what to know.

The IRS allows deductions for the cost of a ransomware attack as a business expense, as long as you can provided receipts of ...

Like most filers, we usually take the standard deduction, but itemizing our taxes is saving us money this year.

Your aging-in-place plan could benefit from the medical expense tax deduction. But watch out for capital gains and property ...

The 2025 tax season is underway. Claiming the standard deduction instead of your actual deductions is much easier, but it ...

These deductions can lower your taxes and are available to taxpayers across various income brackets and situations.

The Inflation Reduction Act (IRA) of 2022 significantly enhanced the Section 179D deduction, making it even more valuable for ...

Some might be. In general, most closing costs are not tax-deductible. This is because the IRS regards them as part of the ...

Nearly half the states in the country have some sort of tax benefit for renters. Not everyone qualifies, though.

The IRS offers various tax breaks for homeowners that can help lessen the financial burden associated with homeownership.

A new bill in North Carolina aims to provide an income tax deduction for tips and bonus pay, potentially benefiting many ...

When someone passes away, the inheritance they leave behind can bring both assets and liabilities to the heirs. While many ...