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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Claiming a loss in a 529 plan
You can only take a loss when all the funds in that 529 account have been distributed.
2 min read Mar 29, 2011 -
Move for newlywed tax-deductible
You can deduct your moving expenses if you meet certain criteria.
1 min read Mar 10, 2011 -
Deduct storage fees for a motor home?
The IRS is generous when it comes to vacation and second homes, to a point.
1 min read Feb 15, 2011 -
10 tasty tax tips for 2011
Taxes can squeeze your finances, but these tips will put more money in your pocket next year.
6 min read Dec 27, 2010 -
How the new tax law affects your 2010 taxes
Many of the provisions that expired in December 2009 are now in effect for the 2010 tax year.
3 min read Dec 20, 2010 -
Workers’ comp from agency not taxed
The general rule is that workers’ compensation benefits are tax-exempt to the recipient.
3 min read Dec 02, 2010 -
3 lesser known ways to save on taxes
Learn three often overlooked strategies for reducing your tax bill.
1 min read Nov 16, 2010 -
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 Sep 14, 2010 -
Volunteer vacations let you help others
If you unwind best by working, take a volunteer vacation and get tax breaks, too.
3 min read Aug 31, 2010 -
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 Jul 06, 2010 -
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 Mar 26, 2010 -
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 05, 2010 -
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 Feb 11, 2010 -
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 Feb 09, 2010 -
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 Feb 01, 2010 -
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 Jan 21, 2010 -
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 Jan 19, 2010 -
Bankrate’s 2010 Tax Guide: How do I …?
We’re here to help make your tax preparations easier than ever!
Jan 05, 2010 -
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.
Jan 05, 2010 -
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.
Jan 05, 2010