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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    Window tinting can mean a tax credit

    You may still be able to recoup part of the cost of this simple energy-saving home improvement through a credit on your 2007 tax filing.

    4 min read Jul 16, 2007
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    Writing off travel expenses

    You can deduct reasonable and ordinary travel expenses when away from home on a temporary work assignment, says CPA George Saenz.

    2 min read Mar 27, 2007
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    10 new tax laws you need to know

    Lawmakers were busy in 2006, so be sure to check out these tax code changes. They might save you some money.

    10 min read Jan 10, 2007
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    Capital gains exclusion for foreign home

    The rules apply to foreign homes even if you were not a resident of this country during the period of ownership and use, says CPA George Saenz.

    1 min read Nov 09, 2006
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    Deducting rental property losses

    Rental real estate losses are not allowed to married or single taxpayers whose AGI exceeds $150,000 a year, says CPA George Saenz.

    1 min read Nov 08, 2006
  • Debt Consolidation Basics

    A complete look at the options available for consolidating debts, identifying which plan works best based on individual needs and the pros and cons of the various options.

    1 min read May 01, 2006
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    Take tax control of your IRA conversion

    You can’t escape the tax pain of transferring a traditional IRA to a Roth account. You can, however, control it via systematic partial conversions.

    9 min read Apr 11, 2006
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    Determining taxable income

    It’s hard to believe, but the IRS doesn’t tax every cent you make! It only collects on your taxable income.

    4 min read Apr 01, 2005
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