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.
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As Congress tries to reduce the deficit, some tax breaks may be on the chopping block.
Yes, they are deductible, along with other medical expenses, if you meet certain criteria.
Some tax breaks aren’t what they appear to be. Be sure to read the fine print.
Did one of your investments totally tank? It may become valuable as a tax break.
You can’t get a tax deduction for hosting an exchange student for these reasons.
A Harley as a medical deduction? A human skeleton as home office decor? There’s more.
Just because you used up that loss doesn’t mean your tax bill will rise sharply.
You have to meet certain tests before you can deduct moving expenses for a job change.
Here’s how to find a tax pro who can determine if you missed out on some tax breaks.
If you itemize, you can claim IVF costs that exceed a certain percentage of your income.