Drivers are looking a long list of rules if they're hoping to claim a new tax deduction for car loan interest on 2025 federal ...

Tax deductions reduce your taxable income, but tax credits reduce your bill dollar for dollar. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

If you’re an older adult, a new bonus tax deduction could provide a valuable tax benefit. Here's how it works.

About 144 million Americans may qualify for the 2026 universal charity deduction, while high earners face new IRS limits.

Andy is a Miami native journalist and translator who is always on top of what sporting activity is taking place across the globe, and he aims to ensure all relevant information is shared with fans.

Tax deductions reduce your total taxable income, also called your adjusted gross income. The Internal Revenue Service offers both personal and business deductions, but business deductions must be ...

There is an above-the-line deduction available for many individual taxpayers for qualified tuition and related expenses. The deductible expenses are defined in the same manner as they are for the ...

Two types of tax breaks stand out among all the lingo: credits and deductions. Each lowers your tax liability, which is the total annual tax owed on your income. (That figure can be found on line 24 ...

You may be able to take a tax deduction for business use of your home. The deduction is available not only for an office but for other business uses as well, such as a workshop or studio at home.

The grain glitch was an unintended consequence of Section 199A, the provision that created the 20 percent tax deduction on income derived from pass-through businesses designed to replicate the tax ...

The Tax Cuts and Jobs Act -- signed into law on December 22, 2017 — gave birth to a brand new provision: Section 199A, which permits owners of sole proprietorships, S corporations, or partnerships to ...