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A tax deduction reduces the amount of income that is subject to taxation by federal and state governments. View the current standard deduction amounts and other tax deduction information.
A person’s gross income is used to determine how much they have to pay toward federal and state income taxes.
Certain windfalls are considered capital gains. Here’s how to determine what you’ll owe.
The bill proposes making the credit permanently fully refundable. Here’s what to know.
The IRS is stepping up enforcement on potential tax evasion by looking more closely at who’s exchanging cryptocurrencies.
It’s not too late to get a tax deduction for your IRA contributions.
The standard deduction is a set amount of money that’s not included as part of your taxable income when you file your taxes.
You can’t write off the loan, but you may be able to deduct interest paid.
There are a few ways to offset losses from business debt or nonbusiness debt.
Homeowners who are paying PMI may be able to deduct this cost once again. Here’s how.
Looking to score more tax deductions? IRA CDs might be for you.
Americans say they don’t expect to gain a lot from the GOP tax cut.
Approximately one out of five charitable donations will be larger than last year’s.
If your new job prompted a move, you might be able to write off the costs. Here’s how.
Some taxpayers may claim up to a dozen deductions right on their Form 1040. Here’s how.