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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.
Here’s what to know about records to hang on to and how long you should keep them.
Taxpayers can follow their refund online, by phone or with a smartphone app.
Personal credit card use is almost never eligible for a deduction come tax season, but if you’re using a business credit card you can likely deduct your fees.
A new IRS form helps you figure tax withholding from your paycheck. But it’s not easy.
Tired of your job? Then get out there and look for a new one! Your search might even help cut your tax bill.
Some folks will not be getting Treasury checks in their mailboxes, including parents of college kids.
Flipping has flopped in many areas of the country, but it still can be a worthwhile investment option as long as you also are aware of its potential pitfalls.
There’s no way to plan for a disaster. But the IRS offers help by allowing you to deduct catastrophic losses.
Workers have to qualify for earned income credit, says CPA George Saenz.
Deductions reduce your taxable income. Here’s how to determine whether the standard or itemized approach will help you get the smallest tax bill.
These common IRS words and phrases will help you get started talking taxes.
There are lots of tax reasons to own a home. Here’s how to make the most of them and avoid the pitfalls.
We’ve provided the federal personal income tax rates, based on ordinary income, for 2007 tax returns.
Here are ordinary taxable income brackets for use in filing 2007 tax returns due April 15, 2009.