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 ...

"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 ...

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 ...

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 ...

Owning a home comes with costs, but it also provides tax benefits that can lower your taxable income. For those filing taxes ...

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

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 ...

To help sort through it, here is a list of some common types of nontaxable income ... place plan could benefit from the medical expense tax deduction. But watch out for capital gains and property ...