Tax Deductions

Latest Tax Deduction Articles

• Open an IRA before the tax deadline to save on taxes

  It’s not too late to get a tax deduction for your IRA contributions.

  4 min read Apr 09, 2021

  

• Standard deduction amount for 2020-2021: How much is it?

  The standard deduction is a set amount of money that’s not included as part of your taxable income when you file your taxes.

  3 min read Dec 23, 2020

  

• Write off repayment of a business loan

  You can’t write off the loan, but you may be able to deduct interest paid.

  3 min read Oct 08, 2020

  

• How to write off bad debt

  There are a few ways to offset losses from business debt or nonbusiness debt.

  3 min read Jun 04, 2020

  

• Private mortgage insurance (PMI) federal income tax deduction returns

  Homeowners who are paying PMI may be able to deduct this cost once again. Here’s how.

  3 min read Mar 24, 2020

  

• Is an IRA certificate of deposit (CD) tax deductible?

  Looking to score more tax deductions? IRA CDs might be for you.

  3 min read Feb 12, 2018

  

• Americans think Washington will hurt their personal finances

  Americans say they don’t expect to gain a lot from the GOP tax cut.

  3 min read Dec 21, 2017

  

• This Giving Tuesday, many Americans plan to give back

  Approximately one out of five charitable donations will be larger than last year’s.

  2 min read Nov 28, 2017

  

• When can you take a tax deduction for moving expenses?

  If your new job prompted a move, you might be able to write off the costs. Here’s how.

  2 min read Apr 04, 2017

  

• How to cut your taxes using above-the-line deductions right on your Form 1040 or 1040a

  Some taxpayers may claim up to a dozen deductions right on their Form 1040. Here’s how.

  4 min read Mar 28, 2017