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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3 lesser known ways to save on taxes
Learn three often overlooked strategies for reducing your tax bill.
1 min read Mar 11, 2022 -
What to do if Bush tax cuts expire
You can take some steps to minimize your tax bill should Congress decide not to extend the tax cuts.
7 min read Apr 11, 2022 -
Volunteer vacations let you help others
If you unwind best by working, take a volunteer vacation and get tax breaks, too.
3 min read Jan 24, 2021 -
Ex cannot claim mortgage interest deduction
Because the ex won’t make house payments, she can’t take any deductions relating to her former home.
2 min read Dec 08, 2020 -
Getting the most from itemized deductions
If you’re going to the trouble of taking tax deductions, make sure you don’t miss any.
4 min read Nov 17, 2020 -
Plan for taxes due on a Roth IRA conversion
Before converting your traditional IRA to a Roth account, ask yourself these key questions.
5 min read Mar 11, 2022 -
Deducting sales tax on a new car
This year, even taxpayers who claim the standard deduction can take advantage of this tax break.
4 min read Mar 11, 2022 -
10 wackiest tax deductions for 2010
Writing off the cat as an ‘exterminating expense’? It’s just one of 2010’s wackiest tax deductions.
6 min read Nov 17, 2020 -
7 new tax laws to know
Several new tax laws made it into the IRS Code. See which ones might help cut your tax bill.
4 min read Mar 11, 2022 -
Writing off a tax loss on a franchise
Before determining the amount of tax loss on a franchise, make sure to amortize.
2 min read Oct 23, 2019 -
Sales tax deduction for a new roof?
When it comes to home renovations like a new roof, the sales tax deduction can get confusing.
2 min read Oct 23, 2019 -
Bankrate’s 2010 Tax Guide: How do I …?
We’re here to help make your tax preparations easier than ever!
Sep 23, 2021 -
2010 Tax Guide: Realty/capital gains
Home, sweet home. Your home is likely your biggest investment and it affords you some great tax breaks to boot.
Sep 23, 2021 -
Bankrate’s 2010 Tax Guide: Family and education
You care for your children and dependents all year. At tax time Uncle Sam may take care of you.
Sep 23, 2021 -
Bankrate’s 2010 Tax Guide: Filing & refunds
Get it done right the first time with this advice on free filing, e-filing, documentation and refunds.
Sep 23, 2021 -
10 astute tax moves in 2010
Start saving today on next year’s taxes with these simple strategies for lowering your IRS bill.
5 min read Mar 11, 2022 -
When to deduct travel expenses
A tale of two business offices, thousands of miles apart: Can travel expenses be deducted?
1 min read Oct 22, 2019 -
Deducting court-ordered COBRA payments
In a divorce, the medical expenses of the ex-spouse may be deductible as alimony.
2 min read Jul 23, 2018 -
Should tax fears alter retirement plan?
Tax diversification remains a cornerstone of a sound 401(k) retirement savings strategy.
1 min read Nov 13, 2017 -
2009 tax holiday schedule
Find out if your state offers tax breaks on back-to-school shopping and the rules for the discount.
8 min read Feb 25, 2021