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.
A new IRS form helps you figure tax withholding from your paycheck. But it’s not easy.
The IRS issued more than 111 million refunds last year. Here’s how much money was refunded.
These oddball charitable deductions can help your favorite nonprofit — and cut your tax bill.
Depreciation lets you spread the cost of a fixed asset over its useful life.
Leasing or buying a car for business can have tax benefits. Which is right for you?
You don’t have to meet a high hurdle to deduct premiums if your small business is profitable.
Whether or not you can deduct the interest on home equity depends on several factors.
You can pay a friend to drive your car and deduct the cost if you meet certain tests.
You need to find out what happened to your tax refund and why your payment wasn’t applied.
To figure out how much you’ll owe next year, recalculate your taxes as a single filer.
Victims in a disaster area may claim losses early to obtain much-needed cash.
The interest on the home you bought for your in-laws may be deductible in these cases.