tax deductions
Calling All Teachers: You Can Deduct More for School Supplies for 2022
Calling All Teachers: You Can Deduct More for School Supplies for 2022
For the first time in a long time, the tax deduction for out-of-pocket teacher expenses has increased.
September 21, 2022
EV Tax Credits Are Changing: What’s Ahead
EV Tax Credits Are Changing: What’s Ahead
The Inflation Reduction Act—a multi-billion-dollar tax, climate, healthcare, and energy law—makes key changes to electric vehicle tax credits—some tha…
September 14, 2022
The Federal Tax Credit for Electric Vehicle Chargers is Back
The Federal Tax Credit for Electric Vehicle Chargers is Back
The Inflation Reduction Act revives the federal tax credit for electric vehicle charging stations and EV charging equipment that had expired in 2021—w…
September 14, 2022
Student Loans and Taxes: Some Basics to Know
Student Loans and Taxes: Some Basics to Know
The federal student loan pause has been extended and student loan cancellation for some borrowers has been announced—but there are some other things y…
August 25, 2022
13 Tax Breaks for Homeowners and Home Buyers
13 Tax Breaks for Homeowners and Home Buyers
Owning (or buying) a home is expensive. But at least there are some tax deductions, credits, and exclusions that can help you recoup some of those cos…
August 20, 2022
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Tax Changes and Key Amounts for the 2022 Tax Year
Tax Changes and Key Amounts for the 2022 Tax Year
Americans are facing a long list of tax changes for the 2022 tax year. Smart taxpayers will start planning for them now.
August 19, 2022
New Mexico Wildfire and Wind Victims Get More Time to Pay Taxes
New Mexico Wildfire and Wind Victims Get More Time to Pay Taxes
Certain tax filing and payment deadlines are extended for residents and businesses impacted by the recent wildfires and straight-line winds in New Mex…
August 5, 2022
Abortion and Taxes: What Happens Now Without Roe v. Wade?
Abortion and Taxes: What Happens Now Without Roe v. Wade?
See how abortion-related medical expense deductions, HSA and FSA payments, employer-provided travel, and charitable contributions will be handled now …
August 2, 2022
Home Office Deduction: Can You Claim This Tax Break If You Work from Home?
Home Office Deduction: Can You Claim This Tax Break If You Work from Home?
If you're working from home, your employment status determines whether you can claim the home office deduction on your tax return.
July 20, 2022
IRS Increases Mileage Rates Because of High Gas Prices
IRS Increases Mileage Rates Because of High Gas Prices
The higher mileage rates, which are used to calculate certain tax deductions for business and other uses of a car, took effect on July 1.
July 1, 2022
Most-Overlooked Tax Deductions and Credits for the Self-Employed
Most-Overlooked Tax Deductions and Credits for the Self-Employed
If you've recently gone into business for yourself, don't miss these tax breaks for the self-employed.
June 11, 2022
Charitable Tax Deductions: An Additional Reward for the Gift of Giving
Charitable Tax Deductions: An Additional Reward for the Gift of Giving
With a charitable tax deduction, you can donate to a good cause and cut your tax bill at the same time.
May 19, 2022
No Tax for Donating Leave to Ukraine Victims
No Tax for Donating Leave to Ukraine Victims
Vacation, sick, or personal leave donated to help victims of the Russian invasion of Ukraine won't be treated as taxable income.
May 19, 2022
What's the Standard Deduction for 2022 vs. 2021?
What's the Standard Deduction for 2022 vs. 2021?
If you're planning ahead for next year's tax return, see if your 2022 standard deduction will be higher than it was for 2021.
April 28, 2022
Top Off Your HSA Today and Lower Your Tax Bill (While There's Still Time)
Top Off Your HSA Today and Lower Your Tax Bill (While There's Still Time)
If you haven't already contributed the full amount to your HSA for 2021, today is the last day to do so and reduce your taxes at the same time.
April 18, 2022
2021 Tax Returns: What's New on the 1040 Form This Year
2021 Tax Returns: What's New on the 1040 Form This Year
If you're a last-minute filer, familiarize yourself with potential changes for your 2021 tax return before tackling your 1040.
April 14, 2022
There's Still Time to Contribute to Your IRA and Cut Your Taxes
There's Still Time to Contribute to Your IRA and Cut Your Taxes
Although you need to act quickly, you still have time to make a 2021 IRA contribution and lower your tax bill.
April 6, 2022
Tax Deadlines Extended for Puerto Rico Storm Victims
Tax Deadlines Extended for Puerto Rico Storm Victims
Certain tax filing and payment deadlines are extended for people impacted by the Puerto Rico storms, flooding and landslides in February.
April 1, 2022
Most-Overlooked Tax Breaks for the Newly Divorced
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…
March 4, 2022
8 Tax Tips for Gambling Winnings and Losses
8 Tax Tips for Gambling Winnings and Losses
If you pick the right horse at the track or win some money at a casino, don't forget that the IRS wants a cut of your winnings.
March 1, 2022
"Above-the-Line" Deductions for Your 2021 Tax Return
"Above-the-Line" Deductions for Your 2021 Tax Return
If, like most people, you claim the standard deduction instead of itemized deductions on your return, there are still many other tax deductions availa…
February 1, 2022
Tax Relief Available for Arkansas, Illinois, Kentucky and Tennessee Tornado Victims
Tax Relief Available for Arkansas, Illinois, Kentucky and Tennessee Tornado Victims
The IRS is granting people and businesses impacted by the December storms and tornadoes more time to file and pay certain federal taxes.
January 29, 2022
How to Cut Your 2021 Tax Bill
How to Cut Your 2021 Tax Bill
Our guidance could help you claim a higher refund or reduce the amount you owe.
January 29, 2022
Colorado Wildfire Victims Get More Time to Pay Taxes
Colorado Wildfire Victims Get More Time to Pay Taxes
Certain tax filing and payment deadlines are extended for residents and businesses impacted by the Colorado wildfires that started in December.
January 3, 2022
Tax Deadlines Extended for Alabama Storm and Flooding Victims
Tax Deadlines Extended for Alabama Storm and Flooding Victims
Federal tax filing and payment deadlines are extended for victims of the October 6 storms and flooding in Alabama.
December 29, 2021
Tax Relief for Hurricane Ida Victims Extended to Feb. 15
Tax Relief for Hurricane Ida Victims Extended to Feb. 15
People and businesses in Connecticut, Louisiana, Mississippi, New Jersey, New York and Pennsylvania impacted by Hurricane Ida get more time to file an…
December 27, 2021