Did you know you can write off college tuition costs? Or job-related moving expenses? And you don't even have to itemize to get these breaks. Did you know that the old Hope college credit – which used to be good for only the first two years of college – has been temporarily enlarged and is now good for the first four years of college? That some new homeowners who took advantage of the special homebuyer’s tax credit have to pay it back . . . and some don’t?
The federal income tax law is packed with a multitude of ways to lower your tax bill. The trick is knowing which deductions and credits are available -- then taking advantage of them. You're probably thinking you need to hire a high-price accountant for that. Not so.
Our tax encyclopedias make it easy to find out what is deductible. We cover all the major areas, from charitable contributions to medical expenses to retirement savings. Check out our easy-to-use guides to find out how you can cut your 2010 tax bill. And here’s more good news: What you learn now can be put into practice in the future, too, to hold down your tax bill year after year after year.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
What's Deductible?
Congress has filled the tax law with opportunities for businesses both large and small to recoup a healthy portion of reasonable and necessary business expenses with tax deductions and credits.
Believe it or not, you actually can ring up tax savings as the result of buying things.
It's good to give. And for your generosity, the IRS rewards you with tax-saving deductions for charitable contributions.
Kids can cost a small fortune, but they can be real money savers at tax time. Check out all the ways children and other dependents can trim your tax bill.
The tax law is filled with breaks to help taxpayers pay for education -- for your children, your grandchildren or even for yourself.
You don’t have to run your own business to rack up tax breaks. Even if you work 9-to-5 for the boss, Uncle Sam may subsidize some of your job-related costs.
Homeowners can claim a slew of write-offs to lower their tax bills.
Investment and Retirement Savings
0% capital gains? Check. Tax-free dividends? Check Tax-free retirement income? Check. There’s a long list of ways to save taxes on your savings..
The list of medical costs that can be deducted stretches to the Mayo Clinic and back but the best way for most taxpayers to benefit has nothing to do with itemizing deductions.
These tax savers don't fall under any of our other Taxopedia categories . . . but that doesn’t mean they won’t save you money.
-
I'm want to give my 3 grandkids $5K each for Christmas.You're comfortably retired and want to give your grandkids a big Christmas check, but their parents are worried they might spend it all. We ask the pros for help.
-
If You're Not Doing Roth Conversions, You Need to Read ThisRoth conversions and other Roth strategies can be complex, but don't dismiss these tax planning tools outright. They could really work for you and your heirs.
-
Could Traditional Retirement Expectations Be Killing Us?A retirement psychologist makes the case: A fulfilling retirement begins with a blueprint for living, rather than simply the accumulation of a large nest egg.
-
The 'Scrooge' Strategy: How to Turn Your Old Junk Into a Tax DeductionTax Deductions We break down the IRS rules for non-cash charitable contributions. Plus, here's a handy checklist before you donate to charity this year.
-
IRS Says You Made a Tax Return Mistake? A New Law Could Help You Fight BackTax Law Updated taxpayer protections change what the IRS must explain on error notices and how long you have to respond.
-
Tax Refund Alert: House GOP Predicts 'Average' $1,000 Payouts in 2026Tax Refunds Here's how the IRS tax refund outlook for 2026 is changing and what steps you can take now to prepare.
-
New 2026 Tax Change Could Mean More for Your IRA and 401(k) SavingsRetirement Savings Here's how the new IRS inflation adjustments will increase the contribution limits for your 401(k) and IRA in the new year.
-
3 Ways High-Income Earners Can Maximize Their Charitable Donations in 2025Tax Deductions New charitable giving tax rules will soon lower your deduction for donations to charity — here’s what you should do now.
-
10 Retirement Tax Plan Moves to Make Before December 31Retirement Taxes Proactively reviewing your health coverage, RMDs and IRAs can lower retirement taxes in 2025 and 2026. Here’s how.
-
When to Hire a Tax Pro: The Age Most Americans Switch to a CPATax Tips Taxpayers may outsource their financial stress by a specific age. Find out when you should hire a tax preparer.
-
Three Critical Tax Changes Could Boost Your Paycheck in 2026Tax Tips The IRS predicts these tax breaks may change take-home pay in 2026. Will you get over $1,000 in tax savings?
