Tax deductions can impact your taxable income, reduce your overall tax liability and potentially increase your refund. Tax deductions are specific expenses that the IRS allows taxpayers to ...

Note: This is a list of common tax deductions and credits that may be available to you. Please note that it is not exhaustive and does not include any particular order or ranking. If you are like ...

While deductions and credits can both positively impact your tax bill, credits can have the most influence. With a deduction, you are only reducing the amount of income subject to tax, but a credit ...

"Examples of common below-the-line deductions are mortgage interest, medical expenses and state and local taxes (SALT)," Skelhorn said. As for business tax deductions, the IRS requires that ...

I wrote about some wacky and unexpected tax deductions last week, but what about the most common ones that filers just don't fully understand? From gig worker perks to retirement contributions ...

With tax season here, understanding whether to itemize deductions or take the standard deduction can help you maximize ...

recent legislative changes could impact eligibility or deduction limits in 2025. Here are six common homeowner tax deductions to note. Mortgage discount points are fees paid to lenders at closing ...

The most common tax breaks are for education expenses ... recently released a list of the 10 strangest, most creative deductions approved by the IRS. “People are often unaware of just how ...