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

Long-term capital gains tax basics

Certain windfalls and profits are considered capital gains. Here’s how to determine what you’ll owe.

10 min read

2024-2025 tax brackets

Knowing your federal income tax bracket can help you manage your money better. Here are the federal tax brackets and income tax rates for 2025 and 2024.

8 min read

Section 179 vs. bonus depreciation

The Section 179 deduction and bonus depreciation both let businesses write off expenses quickly. Here’s what you need to know.

6 min read

10 tax deductions and tax credits

These 10 tax credits and deductions can help you trim your tax bill and, in some cases, even boost your refund.

7 min read

Latest Tax Deduction Articles

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
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

Tax Calculators

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