Since we withdrew money from our 401 (k), we expect to owe the IRS money this year. However, by itemizing and deducting the interest paid on our mortgage debt, along with several additional tax breaks ...

There are some tax advantages that come with homeownership. Here's what to know and when you might want to consult a pro.

Tax deductions help keep money in your pocket. When it’s time to file your return, there’s typically two ways to take them – ...

NEXT explains that if you're an independent contractor, it's your job to pay taxes on your own—and you'll want as many 1099 ...

With the mortgage interest deduction (MID), you can write off a portion of the interest on your home loan, lowering your taxable income and potentially moving you into a lower tax bracket.

mortgage interest, business expenses and charitable donations. Income, sales, real estate and personal property taxes: We'll also take the state and local tax deduction, which allows us to deduct ...

While many people know about the standard deductions, like student or mortgage loan interest ... If you live in a state with no income tax, you might be able to deduct your state sales tax ...

Among those expenses, one of the biggest is mortgage interest. You should receive a Form 1098 from your mortgage servicer that will show how much you paid during the tax year. A photo illustration ...

My tax situation has always been ... itemizing my return to claim the mortgage interest deduction — it all disqualified me. My home state of Ohio hasn't adopted the IRS's Direct File program ...