Tax Deductions
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.
Tax Basics
Latest Tax Deduction Articles
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Deduct storage fees for a motor home?
The IRS is generous when it comes to vacation and second homes, to a point.
1 min read Feb 15, 2011 -
10 tasty tax tips for 2011
Taxes can squeeze your finances, but these tips will put more money in your pocket next year.
6 min read Dec 27, 2010 -
How the new tax law affects your 2010 taxes
Many of the provisions that expired in December 2009 are now in effect for the 2010 tax year.
3 min read Dec 20, 2010 -
Workers’ comp from agency not taxed
The general rule is that workers’ compensation benefits are tax-exempt to the recipient.
3 min read Dec 02, 2010 -
3 lesser known ways to save on taxes
Learn three often overlooked strategies for reducing your tax bill.
1 min read Nov 16, 2010 -
What to do if Bush tax cuts expire
You can take some steps to minimize your tax bill should Congress decide not to extend the tax cuts.
7 min read Sep 14, 2010 -
Volunteer vacations let you help others
If you unwind best by working, take a volunteer vacation and get tax breaks, too.
3 min read Aug 31, 2010 -
Savings bonds may not qualify for tax break
Not all Series EE and I bonds offer a tax break for qualified education expenses.
2 min read Jul 08, 2010 -
Ex cannot claim mortgage interest deduction
Because the ex won’t make house payments, she can’t take any deductions relating to her former home.
2 min read Jul 06, 2010 -
Getting the most from itemized deductions
If you’re going to the trouble of taking tax deductions, make sure you don’t miss any.
4 min read Mar 26, 2010