tax deductions

8 Tax Tips for Gambling Winnings and Losses
taxes

8 Tax Tips for Gambling Winnings and Losses

Good job if you won some money during this year's college basketball championships! But don't forget that the IRS wants a cut of your winnings.
April 6, 2021
Fund Your IRA, Cut Your Taxes
Tax Breaks

Fund Your IRA, Cut Your Taxes

Now that the tax return filing deadline has been extended, there's even more time to make a 2020 IRA contribution and lower your tax bill.
March 19, 2021
What's the Standard Deduction for 2020 vs. 2021?
Tax Breaks

What's the Standard Deduction for 2020 vs. 2021?

If you're like most Americans, taking the standard deduction on your tax return is better than claiming itemized deductions.
March 5, 2021
Claim These "Above-the-Line" Deductions on Your Tax Return (Even If You Don't Itemize)
Tax Breaks

Claim These "Above-the-Line" Deductions on Your Tax Return (Even If You Don't Itemize)

If, like most people, you claim the standard deduction instead of itemized deductions on your return, there are still many other tax deductions availa…
March 5, 2021
Can You Claim the Home Office Deduction on Your 2020 Tax Return?
Tax Breaks

Can You Claim the Home Office Deduction on Your 2020 Tax Return?

People working from home because of the pandemic are wondering if they can get a tax deduction out of it. It depends on your employment status.
February 11, 2021

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Teachers Can Deduct COVID-Prevention Supplies on Their Tax Return
Tax Breaks

Teachers Can Deduct COVID-Prevention Supplies on Their Tax Return

Eligible educators can write off expenses for COVID-19 protective items that help stop the spread of the virus in the classroom.
February 4, 2021
18 Believe It or Not Tax Breaks
Tax Breaks

18 Believe It or Not Tax Breaks

Your fellow taxpayers have successfully claimed write-offs for many things that most of us wouldn't even imagine. But be careful if you plan on follow…
January 27, 2021
20 Most-Overlooked Tax Breaks and Deductions
Tax Breaks

20 Most-Overlooked Tax Breaks and Deductions

Don't miss these frequently overlooked tax deductions, credits and exemptions. Otherwise, you're just pouring money down the drain.
January 14, 2021
Charitable Tax Deductions: An Additional Reward for the Gift of Giving
Tax Breaks

Charitable Tax Deductions: An Additional Reward for the Gift of Giving

Because of the worldwide pandemic and related restrictions, your donations to charity are needed more than ever this year. And, with charitable tax de…
January 9, 2021
Most-Overlooked Tax Breaks for the Newly Divorced
Divorce

Most-Overlooked Tax Breaks for the Newly Divorced

The pandemic is expected to boost the divorce rate in 2021. If you're breaking up, here are some tips to make your return to single life more tax-frie…
January 6, 2021
The Most-Overlooked Tax Breaks for Retirees
Tax Breaks

The Most-Overlooked Tax Breaks for Retirees

For new retirees—especially those on a fixed income—it's more important than ever to take full advantage of every tax break available.
December 30, 2020
11 Tax Breaks for the Middle Class
Tax Breaks

11 Tax Breaks for the Middle Class

Tax breaks aren't just for the rich. There are plenty of them that are only available to middle- and low-income Americans.
December 17, 2020
Biden's Plan to Tax the Rich Faces Roadblocks
Politics

Biden's Plan to Tax the Rich Faces Roadblocks

The president-elect is unlikely to get much on his wish list, with the Democratic majority in the House narrowed and the GOP likely keeping control of…
November 16, 2020
Tax Tip: How to Deduct Property Damage Caused by Hurricane Zeta
Tax Breaks

Tax Tip: How to Deduct Property Damage Caused by Hurricane Zeta

Get the maximum tax deduction for property losses resulting from Hurricane Zeta or other natural disasters.
October 28, 2020
What's the Standard Deduction for 2020 vs. 2021?
Tax Breaks

What's the Standard Deduction for 2020 vs. 2021?

Most Americans claim the standard deduction on their tax return instead of itemized deductions.
October 27, 2020
Tax Relief Available for California Wildfire Victims
Tax Breaks

Tax Relief Available for California Wildfire Victims

Residents and businesses impacted by the California wildfires get more time to file and pay taxes.
October 19, 2020
Hurricane Delta Victims Get More Time to Pay Taxes
Tax Breaks

Hurricane Delta Victims Get More Time to Pay Taxes

The tax relief is currently available to Hurricane Delta victims in Acadia, Calcasieu, Cameron, Jefferson Davis, and Vermilion parishes in Louisiana.
October 19, 2020
Tax Tip: How to Deduct Property Damage Caused by Hurricane Delta
Tax Breaks

Tax Tip: How to Deduct Property Damage Caused by Hurricane Delta

Get the maximum tax deduction for property losses resulting from Hurricane Delta or other natural disasters.
October 9, 2020
Retirees' Guide to Giving for the Greatest Impact
Making Your Money Last

Retirees' Guide to Giving for the Greatest Impact

The need for charity is climbing, particularly to combat the rising poverty, hunger and homelessness from the pandemic’s economic fallout. Here's how …
October 7, 2020
Most-Overlooked Tax Breaks for the Newly Divorced
tax deductions

Most-Overlooked Tax Breaks for the Newly Divorced

Filing taxes after a divorce can add yet another problem to an already long list of challenges. But here are some tips to make your return to single l…
September 18, 2020
Tax Tip: How to Deduct Property Damage Caused by Hurricane Sally
Tax Breaks

Tax Tip: How to Deduct Property Damage Caused by Hurricane Sally

Get the maximum tax deduction for property losses resulting from Hurricane Sally or other natural disasters.
September 17, 2020
Tax Tip: How to Deduct Property Damage Caused by Hurricane Laura
Tax Breaks

Tax Tip: How to Deduct Property Damage Caused by Hurricane Laura

Get the maximum tax deduction for property losses resulting from Hurricane Laura or other natural disasters.
August 31, 2020
IRS Extends Tax Due Dates for Hurricane Laura Victims
Tax Breaks

IRS Extends Tax Due Dates for Hurricane Laura Victims

Victims of Hurricane Laura have until the end of the year to file tax returns and make tax payments.
August 31, 2020
Tax Relief for Hurricane, Wildfire, Flood and Other Natural Disaster Victims
Tax Breaks

Tax Relief for Hurricane, Wildfire, Flood and Other Natural Disaster Victims

Deductions for lost or damaged property, filing and payment extensions, and fee waivers can help taxpayers hit by a hurricane, wildfire, tornado, eart…
August 25, 2020
Do You Qualify for a $300 Tax Deduction Under the CARES Act?
tax deductions

Do You Qualify for a $300 Tax Deduction Under the CARES Act?

What is the new above-the-line universal tax deduction, and how does it work?
August 23, 2020