Optimizing your return is often one of the most important things you can do during tax season. One way to make the most of your tax situation is by using deductions to lower your tax burden. The ...

Tax season is officially here, and millions of Americans are now preparing to file their taxes for the income they earned in 2024. If you own a home, the mortgage interest deduction could reduce your ...

The Republicans' signature tax cut and spending package – dubbed the "big, beautiful bill" – that was signed into law last week touts tax deductions on tips and overtime pay, and also includes a tax ...

Becoming a homeowner isn’t just the American dream for some. It can also come with tax benefits, one being the mortgage interest deduction. However, not all homeowners can claim this tax deduction, ...

Transitional guidance released by the IRS on Oct. 21 gives auto lenders room for avoiding penalties when it comes to ...

In most cases, personal loan interest is not tax deductible because you generally can't deduct personal expenses. There are certain situations where personal loan interest is tax deductible, like if ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. After nearly three years, payments on federal student loans ...

Some 1,160,000 people over state pension age are expected to incur an income tax liability on savings, according to data ...