Tax-deductions
Latest
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SALT Deduction: Three Things to Know Now Given the Election
Tax Deductions Changes to the state and local tax deduction and the looming TCJA expiration have brought this tax break into the spotlight.
By Kelley R. Taylor Last updated
Tax Deductions -
Understand These Hobby Loss Rules to Reduce IRS Audit Risks
The Tax Letter The IRS will scrutinize tax returns reporting large losses from any activity that sounds like a hobby. Here is what you need to know.
By Joy Taylor Published
The Tax Letter -
Ten Tax Breaks for Homeowners and Homebuyers
Homeownership Owning (or buying) a home is expensive. But there are some tax breaks for homeowners that can help you recoup some of those costs.
By Rocky Mengle Last updated
Homeownership -
Deduct Expenses for Long-Term Care on Your Tax Return
Long-Term Care The IRS allows some limited tax breaks on medical expenses and insurance premiums related to long-term care.
By Gabriella Cruz-Martínez Last updated
Long-Term Care -
Educator Expense Deduction for 2024
Tax Breakts Some educators can deduct out-of-pocket expenses for classroom supplies when they file their federal returns.
By Kelley R. Taylor Last updated
Tax Breakts -
A Bunch of IRS Tax Deductions and Credits You Need to Know
Tax Breaks Lowering your taxable income is the key to paying less to the IRS. Several federal tax credits and deductions can help.
By Kelley R. Taylor Last updated
Tax Breaks -
Landlord With Rental Income? Do You Qualify for a Tax Break
The Tax Letter Many landlords are eligible to take the 20% tax deduction for qualified business income
By Joy Taylor Published
The Tax Letter -
Summer Activities That Can Impact Your Taxes
Tax Planning Certain summertime activities might help lower your taxable income.
By Kelley R. Taylor Last updated
Tax Planning -
Tax-Smart Strategies for Account Withdrawals
Understanding the best way to tap your IRAs and other accounts can help you preserve your savings and lower your tax bill.
By Sandra Block Published