The Australian Taxation Office (ATO) has revealed a little-known trick that allows you to dig into your superannuation before you retire. Usually, you have to wait until you hit 65 before you can take ...

The government has announced new provisions that will impact senior citizens and individuals with lower assessable incomes.

If you're one of the many Americans still paying off your student loans, there's a special tax deduction you should know ...

Due to fixed returns and low risk, even today many investors prefer fixed deposits (FDs) despite many investment options.

A deduction cuts the income you're taxed on, which can mean a lower bill. A credit cuts your tax bill directly. Learn more about common tax breaks and how to claim them. Many, or all, of the ...

If you lived with another person in 2024 If you lived with another person at any time in 2024 and in the first 60 days of 2025, you need to determine who can claim the deduction for child care ...

In most cases, personal loan interest is not tax deductible because ... taxed on a smaller figure. Interest deductions are most relevant to consumers who claim itemized deductions on their taxes.

student loan interest, and teaching expenses. Itemizing is typically more beneficial if your total deductible expenses exceed the standard deduction. With a $1,000 tax credit, your $3,000 tax bill ...

A tax deduction reduces your taxable income for the year, potentially lowering the amount of taxes you owe. You can claim deductions in two ways ... alimony payments, student loan interest, and ...

There is no hike in the standard deduction limit in the Budget 2025. An individual will claim Rs 75,000 as standard deduction in the upcoming fiscal year 2025-26. Deduction on NPS contribution made by ...

Further, threshold amounts for tax deduction will be increased for better clarity and uniformity. The limit for tax deduction on interest for senior citizens is being doubled from the present Rs ...

Learn how the interest deduction works. Is health insurance tax deductible? Here’s what you can claim. Health premiums for employer-sponsored plans typically aren’t tax deductible, but in some ...